Traders sold shares of Altaba Inc (NASDAQ:AABA) on strength during trading on Wednesday. $70.71 million flowed into the stock on the tick-up and $135.64 million flowed out of the stock on the tick-down, for a money net flow of $64.93 million out of the stock. Of all stocks tracked, Altaba had the 13th highest net out-flow for the day. Altaba traded up $1.07 for the day and closed at $62.28
Several analysts have recently commented on the company. BidaskClub cut Altaba from a “buy” rating to a “hold” rating in a research report on Saturday, July 21st. ValuEngine cut Altaba from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. JPMorgan Chase & Co. decreased their target price on Altaba to $80.00 and set an “overweight” rating for the company in a research report on Monday, November 5th. Finally, MKM Partners decreased their target price on Altaba to $115.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. One 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. Altaba currently has a consensus rating of “Hold” and a consensus price target of $93.42.
Several large investors have recently made changes to their positions in the stock. Lehman Financial Resources Inc. raised its holdings in shares of Altaba by 216.7% during the third quarter. Lehman Financial Resources Inc. now owns 9,500 shares of the company’s stock worth $647,000 after acquiring an additional 6,500 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Altaba during the third quarter worth $4,737,000. Probabilities Fund Management LLC bought a new position in Altaba during the third quarter valued at about $204,000. LPL Financial LLC raised its holdings in Altaba by 5.3% during the third quarter. LPL Financial LLC now owns 32,028 shares of the company’s stock valued at $2,182,000 after buying an additional 1,618 shares in the last quarter. Finally, River & Mercantile Asset Management LLP raised its holdings in Altaba by 35.6% during the third quarter. River & Mercantile Asset Management LLP now owns 114,187 shares of the company’s stock valued at $7,775,000 after buying an additional 30,000 shares in the last quarter.
About Altaba (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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