GHP Investment Advisors Inc. bought a new stake in Altaba (NASDAQ:AABA) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,071 shares of the company’s stock, valued at approximately $354,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP boosted its position in Altaba by 89.7% during the 4th quarter. Hudson Bay Capital Management LP now owns 7,167,499 shares of the company’s stock worth $500,650,000 after buying an additional 3,390,092 shares during the period. Discovery Capital Management LLC CT acquired a new position in shares of Altaba during the 4th quarter valued at $122,391,000. Lazard Asset Management LLC lifted its position in shares of Altaba by 96.2% during the 4th quarter. Lazard Asset Management LLC now owns 3,013,517 shares of the company’s stock valued at $210,494,000 after acquiring an additional 1,477,332 shares during the period. Coronation Fund Managers Ltd. acquired a new position in shares of Altaba during the 4th quarter valued at $101,658,000. Finally, Fred Alger Management Inc. increased its stake in Altaba by 62.3% during the 4th quarter. Fred Alger Management Inc. now owns 2,763,304 shares of the company’s stock valued at $193,017,000 after purchasing an additional 1,060,894 shares in the last quarter. 73.84% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ AABA opened at $67.55 on Friday. The company has a market cap of $60,717.23, a PE ratio of 278.08 and a beta of 1.95. Altaba has a fifty-two week low of $45.96 and a fifty-two week high of $80.56.
In related news, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $74.20, for a total transaction of $90,078,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alexi Wellman sold 1,940 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $75.04, for a total value of $145,577.60. Following the completion of the sale, the chief financial officer now owns 17,905 shares of the company’s stock, valued at $1,343,591.20. The disclosure for this sale can be found here. Insiders sold a total of 1,217,202 shares of company stock worth $90,321,425 in the last ninety days. 24.00% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on AABA. BidaskClub upgraded shares of Altaba from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Vetr cut shares of Altaba from a “hold” rating to a “sell” rating and set a $73.32 target price on the stock. in a report on Tuesday, January 23rd. Oppenheimer raised their price target on Altaba from $98.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Credit Suisse Group raised their price objective on Altaba from $81.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase raised their price target on Altaba to $90.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $71.96.
ILLEGAL ACTIVITY NOTICE: This article was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://www.dispatchtribunal.com/2018/04/07/ghp-investment-advisors-inc-takes-354000-position-in-altaba-inc-aaba.html.
Altaba Company Profile
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.
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.