PineBridge Investments L.P. Invests $125,000 in Yahoo Inc. (YHOO)
PineBridge Investments L.P. purchased a new stake in Yahoo Inc. (NASDAQ:YHOO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,325 shares of the digital content provider’s stock, valued at approximately $125,000.
A number of other hedge funds have also recently bought and sold shares of YHOO. Dynamic Technology Lab Private Ltd purchased a new stake in Yahoo during the second quarter worth approximately $260,000. Westpac Banking Corp boosted its stake in Yahoo by 18.0% in the second quarter. Westpac Banking Corp now owns 93,946 shares of the digital content provider’s stock worth $3,426,000 after buying an additional 14,302 shares during the period. Vanguard Group Inc. boosted its stake in Yahoo by 2.2% in the second quarter. Vanguard Group Inc. now owns 53,298,983 shares of the digital content provider’s stock worth $2,001,909,000 after buying an additional 1,126,726 shares during the period. Benchmark Capital Advisors boosted its stake in Yahoo by 10.0% in the second quarter. Benchmark Capital Advisors now owns 52,300 shares of the digital content provider’s stock worth $1,964,000 after buying an additional 4,750 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Yahoo by 2.0% in the second quarter. Principal Financial Group Inc. now owns 1,188,694 shares of the digital content provider’s stock worth $44,648,000 after buying an additional 23,348 shares during the period. Institutional investors own 73.65% of the company’s stock.
Shares of Yahoo Inc. (NASDAQ:YHOO) opened at 43.18 on Wednesday. The stock’s 50 day moving average price is $43.10 and its 200-day moving average price is $38.83. Yahoo Inc. has a 52-week low of $26.15 and a 52-week high of $44.92. The firm’s market capitalization is $41.10 billion.
Yahoo (NASDAQ:YHOO) last issued its earnings results on Monday, July 18th. The digital content provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $842 million for the quarter, compared to analyst estimates of $1.08 billion. Yahoo had a positive return on equity of 0.32% and a negative net margin of 100.08%. The business’s revenue for the quarter was down 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 EPS. Equities research analysts anticipate that Yahoo Inc. will post $0.49 EPS for the current fiscal year.
A number of research firms recently commented on YHOO. SunTrust Banks Inc. reiterated a “neutral” rating on shares of Yahoo in a research report on Friday, September 30th. Citigroup Inc. reissued a “buy” rating on shares of Yahoo in a report on Monday, September 26th. Robert W. Baird reissued a “neutral” rating and set a $42.00 price target on shares of Yahoo in a report on Friday, September 23rd. Bank of America Corp. reissued a “buy” rating and set a $55.00 price target on shares of Yahoo in a report on Friday, September 23rd. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $55.00 price target (up previously from $48.00) on shares of Yahoo in a report on Monday, September 19th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.61.
In other Yahoo news, CRO Lisa Utzschneider sold 732 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $42.84, for a total value of $31,358.88. Following the completion of the transaction, the executive now owns 612,081 shares in the company, valued at $26,221,550.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.20% of the stock is currently owned by company insiders.
Yahoo! Inc (Yahoo), along with its subsidiaries, is engaged in digital information discovery. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific. The Company focuses on informing, connecting and entertaining its users with its search (Yahoo search), communications, including Yahoo Mail and Yahoo Messenger, and digital content products, including Tumblr, and its four verticals, such as Yahoo News, Yahoo Sports, Yahoo Finance and Yahoo Lifestyle.
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