Altaba (AABA) Lifted to Hold at BidaskClub

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BidaskClub upgraded shares of Altaba (NASDAQ:AABA) from a sell rating to a hold rating in a report released on Friday.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. restated an overweight rating and issued a $88.00 price objective (down from $91.00) on shares of Altaba in a research note on Friday, August 24th. MKM Partners cut their target price on shares of Altaba to $115.00 and set a buy rating for the company in a research note on Thursday, August 16th. Finally, ValuEngine cut shares of Altaba from a buy rating to a hold rating in a research note on Wednesday, August 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $93.42.

Shares of Altaba stock traded down $0.80 on Friday, reaching $63.59. The stock had a trading volume of 4,806,812 shares, compared to its average volume of 6,231,916. Altaba has a fifty-two week low of $55.76 and a fifty-two week high of $82.45.

A number of large investors have recently added to or reduced their stakes in the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Altaba by 163.5% during the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,128,150 shares of the company’s stock valued at $76,850,000 after purchasing an additional 700,000 shares during the last quarter. Baupost Group LLC MA acquired a new position in Altaba during the 3rd quarter valued at $191,470,000. Alpine Global Management LLC acquired a new position in Altaba during the 3rd quarter valued at $68,120,000. Mutual Advisors LLC acquired a new position in Altaba during the 3rd quarter valued at $324,000. Finally, Thrivent Financial for Lutherans raised its stake in Altaba by 35.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 36,000 shares of the company’s stock valued at $2,452,000 after purchasing an additional 9,500 shares during the last quarter.

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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Analyst Recommendations for Altaba (NASDAQ:AABA)

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