Altaba (NASDAQ:AABA) had its price objective trimmed by MKM Partners to $115.00 in a report issued on Thursday, The Fly reports. The firm currently has a buy rating on the stock.
Several other brokerages also recently issued reports on AABA. BidaskClub downgraded Altaba from a buy rating to a hold rating in a report on Saturday, July 21st. Credit Suisse Group upped their price target on Altaba from $76.00 to $88.00 in a report on Friday, June 8th. JPMorgan Chase & Co. upped their price target on Altaba from $90.00 to $91.00 and gave the stock an overweight rating in a report on Friday, June 1st. Finally, ValuEngine upgraded Altaba from a hold rating to a buy rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $95.25.
Shares of Altaba stock opened at $68.17 on Thursday. Altaba has a 12-month low of $62.06 and a 12-month high of $82.45.
Large investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Altaba by 7.8% in the 1st quarter. BlackRock Inc. now owns 843,574 shares of the company’s stock valued at $62,459,000 after purchasing an additional 61,080 shares during the period. Fred Alger Management Inc. grew its stake in Altaba by 17.3% in the 2nd quarter. Fred Alger Management Inc. now owns 3,564,356 shares of the company’s stock valued at $260,947,000 after purchasing an additional 525,060 shares during the period. Canyon Capital Advisors LLC grew its stake in Altaba by 47.0% in the 1st quarter. Canyon Capital Advisors LLC now owns 43,278,522 shares of the company’s stock valued at $3,204,342,000 after purchasing an additional 13,846,792 shares during the period. Suntrust Banks Inc. grew its stake in Altaba by 61.4% in the 1st quarter. Suntrust Banks Inc. now owns 4,860 shares of the company’s stock valued at $359,000 after purchasing an additional 1,849 shares during the period. Finally, MSD Partners L.P. grew its stake in Altaba by 12.9% in the 1st quarter. MSD Partners L.P. now owns 3,849,148 shares of the company’s stock valued at $284,991,000 after purchasing an additional 440,561 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.
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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