Laurel Wealth Advisors Inc. grew its holdings in shares of Altaba Inc (NASDAQ:AABA) by 104.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,647 shares of the company’s stock after buying an additional 3,391 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Altaba were worth $478,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AABA. Element Capital Management LLC purchased a new stake in Altaba during the fourth quarter worth approximately $1,540,066,000. Canyon Capital Advisors LLC lifted its position in shares of Altaba by 47.0% during the first quarter. Canyon Capital Advisors LLC now owns 43,278,522 shares of the company’s stock worth $3,204,342,000 after purchasing an additional 13,846,792 shares in the last quarter. Hudson Bay Capital Management LP lifted its position in shares of Altaba by 89.7% during the fourth quarter. Hudson Bay Capital Management LP now owns 7,167,499 shares of the company’s stock worth $500,650,000 after purchasing an additional 3,390,092 shares in the last quarter. Millennium Management LLC lifted its position in shares of Altaba by 15.0% during the fourth quarter. Millennium Management LLC now owns 20,439,085 shares of the company’s stock worth $1,427,670,000 after purchasing an additional 2,671,283 shares in the last quarter. Finally, OZ Management LP lifted its position in shares of Altaba by 19.1% during the first quarter. OZ Management LP now owns 14,510,033 shares of the company’s stock worth $1,074,323,000 after purchasing an additional 2,326,938 shares in the last quarter. Institutional investors own 71.60% of the company’s stock.
A number of research analysts have recently commented on AABA shares. UBS Group reissued a “buy” rating and set a $98.00 target price (up from $92.00) on shares of Altaba in a research report on Thursday, February 22nd. BidaskClub cut shares of Altaba from a “strong-buy” rating to a “buy” rating in a research report on Monday. Credit Suisse Group boosted their target price on shares of Altaba from $76.00 to $88.00 in a research report on Friday, June 8th. MKM Partners boosted their target price on shares of Altaba to $124.00 in a research report on Friday, May 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Altaba from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday, June 1st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $87.06.
AABA opened at $81.61 on Tuesday. The firm has a market capitalization of $71.15 billion, a P/E ratio of 325.84 and a beta of 1.97. Altaba Inc has a 12-month low of $53.13 and a 12-month high of $82.45.
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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