TradeLink Capital LLC Buys Shares of 50,000 Altaba Inc (AABA)

TradeLink Capital LLC bought a new position in shares of Altaba Inc (NASDAQ:AABA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $3,660,000. Altaba makes up 17.6% of TradeLink Capital LLC’s holdings, making the stock its biggest position.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Altaba by 7.8% in the 1st quarter. BlackRock Inc. now owns 843,574 shares of the company’s stock valued at $62,459,000 after purchasing an additional 61,080 shares in the last quarter. Fred Alger Management Inc. grew its position in shares of Altaba by 17.3% in the 2nd quarter. Fred Alger Management Inc. now owns 3,564,356 shares of the company’s stock valued at $260,947,000 after buying an additional 525,060 shares during the last quarter. Canyon Capital Advisors LLC grew its position in shares of Altaba by 47.0% in the 1st quarter. Canyon Capital Advisors LLC now owns 43,278,522 shares of the company’s stock valued at $3,204,342,000 after buying an additional 13,846,792 shares during the last quarter. Suntrust Banks Inc. grew its position in shares of Altaba by 61.4% in the 1st quarter. Suntrust Banks Inc. now owns 4,860 shares of the company’s stock valued at $359,000 after buying an additional 1,849 shares during the last quarter. Finally, MSD Partners L.P. grew its position in shares of Altaba by 12.9% in the 1st quarter. MSD Partners L.P. now owns 3,849,148 shares of the company’s stock valued at $284,991,000 after buying an additional 440,561 shares during the last quarter. Institutional investors own 72.58% of the company’s stock.

Shares of Altaba stock opened at $70.97 on Friday. Altaba Inc has a 1 year low of $56.84 and a 1 year high of $82.45.

AABA has been the topic of a number of recent analyst reports. MKM Partners increased their target price on shares of Altaba to $124.00 in a research report on Friday, May 18th. ValuEngine raised shares of Altaba from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Altaba from $90.00 to $91.00 and gave the company an “overweight” rating in a research report on Friday, June 1st. BidaskClub raised shares of Altaba from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 31st. Finally, Gabelli downgraded shares of Altaba from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Altaba currently has an average rating of “Buy” and a consensus target price of $96.75.

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.

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Institutional Ownership by Quarter for Altaba (NASDAQ:AABA)

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