Ancora Advisors LLC decreased its position in Altaba Inc (NASDAQ:AABA) by 91.0% during the third quarter, HoldingsChannel.com reports. The firm owned 5,388 shares of the company’s stock after selling 54,610 shares during the quarter. Ancora Advisors LLC’s holdings in Altaba were worth $367,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sageworth Trust Co raised its position in Altaba by 259.7% in the third quarter. Sageworth Trust Co now owns 2,140 shares of the company’s stock valued at $146,000 after purchasing an additional 1,545 shares during the period. NEXT Financial Group Inc purchased a new stake in Altaba in the third quarter valued at approximately $154,000. Comerica Bank purchased a new stake in Altaba in the second quarter valued at approximately $204,000. Pitcairn Co. purchased a new stake in Altaba in the second quarter valued at approximately $209,000. Finally, GSA Capital Partners LLP purchased a new stake in Altaba in the third quarter valued at approximately $272,000. 71.87% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the company. BidaskClub raised Altaba from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 18th. ValuEngine lowered Altaba from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. JPMorgan Chase & Co. dropped their price target on shares of Altaba to $80.00 and set an “overweight” rating for the company in a research note on Monday, November 5th. Finally, MKM Partners dropped their price target on shares of Altaba to $115.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $93.42.
NASDAQ:AABA opened at $64.80 on Thursday. Altaba Inc has a 52 week low of $55.76 and a 52 week high of $82.45.
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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.
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