Altaba (AABA) Shares Down 5.3%
Altaba Inc (NASDAQ:AABA)’s share price was down 5.3% on Monday . The stock traded as low as $63.46 and last traded at $64.43. Approximately 12,745,805 shares traded hands during trading, an increase of 83% from the average daily volume of 6,962,308 shares. The stock had previously closed at $68.07.
Several equities analysts have weighed in on AABA shares. JPMorgan Chase & Co. downgraded Altaba from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $84.00 to $78.00 in a research report on Thursday, April 4th. BidaskClub raised Altaba from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. ValuEngine raised Altaba from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Finally, Zacks Investment Research downgraded Altaba from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $91.67.
Large investors have recently made changes to their positions in the company. Actinver Wealth Management Inc. purchased a new stake in shares of Altaba in the fourth quarter valued at $484,000. Huntington National Bank grew its position in shares of Altaba by 224.2% in the fourth quarter. Huntington National Bank now owns 1,446 shares of the company’s stock valued at $84,000 after purchasing an additional 1,000 shares during the period. Norges Bank purchased a new stake in shares of Altaba in the fourth quarter valued at $255,165,000. CWM LLC grew its position in shares of Altaba by 69.2% in the fourth quarter. CWM LLC now owns 1,535 shares of the company’s stock valued at $89,000 after purchasing an additional 628 shares during the period. Finally, Samlyn Capital LLC purchased a new stake in shares of Altaba in the fourth quarter valued at $78,636,000. 71.41% of the stock is owned by institutional investors and hedge funds.
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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