Twin Securities Inc. decreased its holdings in Altaba Inc (NASDAQ:AABA) by 46.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,075,835 shares of the company’s stock after selling 952,118 shares during the quarter. Altaba comprises approximately 13.7% of Twin Securities Inc.’s portfolio, making the stock its 4th biggest holding. Twin Securities Inc. owned about 0.12% of Altaba worth $79,655,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in AABA. SeaCrest Wealth Management LLC acquired a new stake in Altaba in the fourth quarter valued at $103,000. Glassman Wealth Services acquired a new stake in Altaba in the first quarter valued at $127,000. Brighton Jones LLC acquired a new stake in Altaba in the first quarter valued at $208,000. Centaurus Financial Inc. acquired a new stake in Altaba in the fourth quarter valued at $208,000. Finally, Sigma Planning Corp acquired a new stake in Altaba in the fourth quarter valued at $209,000. Hedge funds and other institutional investors own 72.04% of the company’s stock.
AABA opened at $73.21 on Friday. The firm has a market cap of $64.99 billion, a P/E ratio of 297.64 and a beta of 1.97. Altaba Inc has a 52 week low of $54.04 and a 52 week high of $82.45.
AABA has been the topic of several research reports. BidaskClub lowered Altaba from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Credit Suisse Group upped their target price on Altaba from $76.00 to $88.00 in a report on Friday, June 8th. MKM Partners increased their price objective on Altaba to $124.00 in a research note on Friday, May 18th. JPMorgan Chase & Co. increased their price objective on Altaba from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Friday, June 1st. Finally, ValuEngine raised Altaba from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Altaba presently has a consensus rating of “Buy” and an average target price of $92.64.
Altaba Inc operates as a non-diversified, closed-end management investment company in the United States. Its assets consist primarily of equity investments, short-term debt investments, and cash. The company was formerly known as Yahoo! Inc and changed its name to Altaba Inc in June 2017. Altaba Inc was founded in 1994 and is based in New York, New York.
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