Altaba (AABA) Downgraded by BidaskClub to Buy

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BidaskClub downgraded shares of Altaba (NASDAQ:AABA) from a strong-buy rating to a buy rating in a report issued on Monday morning.

Several other analysts also recently weighed in on AABA. Credit Suisse Group lifted their price target on shares of Altaba from $76.00 to $88.00 in a research note on Friday, June 8th. JPMorgan Chase & Co. boosted their price objective on shares of Altaba from $90.00 to $91.00 and gave the stock an overweight rating in a research note on Friday, June 1st. UBS Group reissued a buy rating and issued a $98.00 price objective (up previously from $92.00) on shares of Altaba in a research note on Thursday, February 22nd. ValuEngine raised shares of Altaba from a hold rating to a buy rating in a research note on Wednesday, May 2nd. Finally, Vetr raised shares of Altaba from a hold rating to a buy rating and set a $81.50 price objective for the company in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Altaba has an average rating of Buy and a consensus target price of $87.06.

Altaba opened at $81.61 on Monday, MarketBeat reports. Altaba has a fifty-two week low of $53.13 and a fifty-two week high of $82.45. The company has a market cap of $71.15 billion, a PE ratio of 325.84 and a beta of 1.97.

Large investors have recently modified their holdings of the stock. Element Capital Management LLC purchased a new position in Altaba in the fourth quarter worth $1,540,066,000. Canyon Capital Advisors LLC grew its holdings in Altaba by 47.0% in 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 during the last quarter. Hudson Bay Capital Management LP grew its holdings in Altaba by 89.7% in 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 during the last quarter. Millennium Management LLC grew its holdings in Altaba by 15.0% in 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 during the last quarter. Finally, OZ Management LP grew its holdings in Altaba by 19.1% in 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 during the last quarter. 71.60% of the stock is owned by institutional investors.

About Altaba

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.

Analyst Recommendations for Altaba (NASDAQ:AABA)

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