Traders Buy Altaba (AABA) on Weakness

Investors bought shares of Altaba Inc (NASDAQ:AABA) on weakness during trading hours on Friday. $170.74 million flowed into the stock on the tick-up and $93.19 million flowed out of the stock on the tick-down, for a money net flow of $77.55 million into the stock. Of all stocks tracked, Altaba had the 31st highest net in-flow for the day. Altaba traded down ($1.61) for the day and closed at $74.40

Several brokerages recently weighed in on AABA. BidaskClub upgraded shares of Altaba from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Vetr downgraded shares of Altaba from a “hold” rating to a “sell” rating and set a $73.32 price objective on the stock. in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Altaba presently has an average rating of “Hold” and an average target price of $60.78.

The company has a market cap of $64,980.00, a P/E ratio of 39.79 and a beta of 2.01.

In other Altaba news, Director Tor Braham sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $68.83, for a total transaction of $688,300.00. Following the transaction, the director now owns 9,434 shares of the company’s stock, valued at approximately $649,342.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $74.20, for a total transaction of $90,078,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,224,860 shares of company stock worth $90,829,699. 24.00% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN acquired a new position in shares of Altaba in the 2nd quarter worth approximately $128,338,000. Canada Pension Plan Investment Board grew its stake in shares of Altaba by 315.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 5,926,117 shares of the company’s stock worth $392,546,000 after purchasing an additional 4,500,000 shares during the last quarter. Opera Trading Capital grew its stake in shares of Altaba by 8,700.7% in the 3rd quarter. Opera Trading Capital now owns 79,206 shares of the company’s stock worth $5,247,000 after purchasing an additional 78,306 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Altaba by 409.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 86,452 shares of the company’s stock worth $5,727,000 after purchasing an additional 69,488 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Altaba by 6,364.1% in the 3rd quarter. SG Americas Securities LLC now owns 261,927 shares of the company’s stock worth $17,350,000 after purchasing an additional 257,875 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Traders Buy Altaba (AABA) on Weakness” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/02/04/traders-buy-altaba-aaba-on-weakness-2.html.

About Altaba

Altaba Inc (the Fund), formerly Yahoo! Inc, is a non-diversified, closed-end management investment company. The Fund seeks to track the combined investment return of the Alibaba Shares and the Yahoo Japan Shares it owns. Alibaba Shares represent an approximate 15% equity interest in Alibaba Group Holding Limited (Alibaba), and its Yahoo Japan Corporation ((Yahoo Japa) Shares represent an approximate 36% equity interest in Yahoo Japan.

Receive News & Ratings for Altaba Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altaba and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply