Research Analysts’ Weekly Ratings Updates for Altaba (AABA)

Several brokerages have updated their recommendations and price targets on shares of Altaba (NASDAQ: AABA) in the last few weeks:

  • 5/17/2019 – Altaba was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 5/8/2019 – Altaba was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 5/7/2019 – Altaba was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/30/2019 – Altaba was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Altaba is a closed-end investment management company whose assets include investments in China’s Alibaba (Ticker: BABA), Yahoo Japan and other cash and marketable securities. The company is a successor to Yahoo, which got sold to Verizon. Altaba had $54 billion in assets as of year-end 2016, of which the Alibaba stake accounted for 62% of the total, the Yahoo Japan stake 14% and the rest was cash and marketable securities. “
  • 4/25/2019 – Altaba was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 4/4/2019 – Altaba was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $78.00 price target on the stock, down previously from $84.00.

NASDAQ AABA opened at $64.45 on Tuesday. Altaba Inc has a one year low of $54.75 and a one year high of $82.45.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AABA. Morgan Stanley increased its holdings in Altaba by 25.5% in the 3rd quarter. Morgan Stanley now owns 2,548,105 shares of the company’s stock worth $173,578,000 after buying an additional 518,394 shares in the last quarter. BB&T Corp increased its holdings in Altaba by 64.0% in the 4th quarter. BB&T Corp now owns 26,623 shares of the company’s stock worth $1,543,000 after buying an additional 10,387 shares in the last quarter. Clean Yield Group bought a new stake in Altaba in the 4th quarter worth about $127,000. Lenox Wealth Management Inc. increased its holdings in Altaba by 2.3% in the 4th quarter. Lenox Wealth Management Inc. now owns 10,500 shares of the company’s stock worth $608,000 after buying an additional 240 shares in the last quarter. Finally, First Command Financial Services Inc. bought a new stake in Altaba in the 4th quarter worth about $25,000. Institutional investors own 71.41% of the company’s stock.

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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