Investors sold shares of Altaba Inc (NASDAQ:AABA) on strength during trading on Monday. $31.59 million flowed into the stock on the tick-up and $235.93 million flowed out of the stock on the tick-down, for a money net flow of $204.34 million out of the stock. Of all equities tracked, Altaba had the 0th highest net out-flow for the day. Altaba traded up $0.22 for the day and closed at $69.55
A number of brokerages have recently commented on AABA. Gabelli lowered shares of Altaba from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. BidaskClub lowered shares of Altaba from a “buy” rating to a “hold” rating in a research report on Saturday, July 21st. ValuEngine lowered shares of Altaba from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $88.00 price objective (down previously from $91.00) on shares of Altaba in a research report on Friday, August 24th. Finally, Credit Suisse Group boosted their price objective on shares of Altaba from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $94.75.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Kiley Juergens Wealth Management LLC bought a new stake in Altaba during the second quarter worth $143,000. IMA Wealth Inc. bought a new stake in Altaba during the second quarter worth $157,000. Comerica Bank bought a new position in shares of Altaba in the second quarter valued at about $204,000. Pitcairn Co. bought a new position in shares of Altaba in the second quarter valued at about $209,000. Finally, Benchmark Capital Advisors bought a new position in shares of Altaba in the second quarter valued at about $220,000. 84.23% of the stock is currently owned by hedge funds and other institutional investors.
Altaba Company Profile (NASDAQ:AABA)
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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