Yahoo! Inc. (AABA) Reaches New 52-Week High at $66.55
Shares of Yahoo! Inc. (NASDAQ:AABA) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $66.55 and last traded at $66.56, with a volume of 4,650,232 shares traded. The stock had previously closed at $65.36.
A number of analysts recently issued reports on the stock. MKM Partners lifted their price target on shares of Yahoo! from $62.00 to $76.00 and gave the stock a “buy” rating in a research note on Sunday, September 3rd. UBS AG restated a “buy” rating on shares of Yahoo! in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of Yahoo! from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. assumed coverage on shares of Yahoo! in a research note on Thursday, July 6th. They issued an “outperform” rating and a $75.00 price target for the company. Finally, J P Morgan Chase & Co assumed coverage on shares of Yahoo! in a research note on Wednesday, June 28th. They issued an “overweight” rating for the company. Fourteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $51.08.
The firm’s market cap is $63.87 billion. The company has a 50 day moving average of $61.58 and a 200 day moving average of $53.05.
A number of institutional investors have recently bought and sold shares of AABA. Disciplined Growth Investors Inc. MN bought a new position in Yahoo! in the second quarter valued at about $128,338,000. Cibc World Markets Corp bought a new position in Yahoo! in the second quarter valued at about $108,960,000. Towerview LLC bought a new position in Yahoo! in the second quarter valued at about $9,534,000. Rhumbline Advisers bought a new position in Yahoo! in the second quarter valued at about $3,364,000. Finally, Atlantic Trust Group LLC bought a new position in Yahoo! in the second quarter valued at about $1,139,000. Institutional investors and hedge funds own 72.70% of the company’s stock.
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Yahoo! Company Profile
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.
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