Altaba Inc (AABA) Short Interest Up 14.1% in July

Altaba Inc (NASDAQ:AABA) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 40,812,828 shares, a growth of 14.1% from the July 13th total of 35,761,739 shares. Approximately 5.0% of the shares of the stock are short sold. Based on an average trading volume of 11,488,557 shares, the short-interest ratio is currently 3.6 days.

Shares of Altaba stock opened at $70.97 on Monday. Altaba has a twelve month low of $56.84 and a twelve month high of $82.45.

A number of research analysts recently weighed in on the stock. MKM Partners raised their price target on shares of Altaba to $124.00 in a research note on Friday, May 18th. Credit Suisse Group raised their price target on shares of Altaba from $76.00 to $88.00 in a research note on Friday, June 8th. BidaskClub lowered shares of Altaba from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. ValuEngine raised shares of Altaba from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Altaba from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Friday, June 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $96.75.

A number of institutional investors have recently modified their holdings of the stock. Coronation Fund Managers Ltd. lifted its stake in Altaba by 565.9% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 753,454 shares of the company’s stock valued at $55,161,000 after buying an additional 640,303 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Altaba by 4,414.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 75,302 shares of the company’s stock worth $5,511,000 after purchasing an additional 73,634 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Altaba by 5.0% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 509,928 shares of the company’s stock worth $37,332,000 after purchasing an additional 24,500 shares in the last quarter. Gabelli Funds LLC lifted its stake in Altaba by 2.9% in the 2nd quarter. Gabelli Funds LLC now owns 989,056 shares of the company’s stock worth $72,409,000 after purchasing an additional 27,800 shares in the last quarter. Finally, FMR LLC lifted its stake in Altaba by 3.8% in the 2nd quarter. FMR LLC now owns 1,775,049 shares of the company’s stock worth $129,952,000 after purchasing an additional 64,603 shares in the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

About Altaba

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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