Yahoo! Inc. (AABA) Short Interest Down 18.4% in June

Yahoo! Inc. (NASDAQ:AABA) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 54,160,943 shares, a drop of 18.4% from the May 31st total of 66,412,685 shares. Based on an average daily trading volume, of 54,689,858 shares, the days-to-cover ratio is presently 1.0 days.

Shares of Yahoo! (AABA) traded up 1.32% during mid-day trading on Friday, hitting $59.20. The stock had a trading volume of 5,871,045 shares. The stock’s 50-day moving average price is $55.55 and its 200-day moving average price is $48.99. The firm’s market cap is $56.72 billion. Yahoo! has a 52-week low of $38.08 and a 52-week high of $60.22.

A number of equities research analysts recently issued reports on AABA shares. Vetr raised Yahoo! from a “hold” rating to a “buy” rating and set a $49.02 target price on the stock in a research report on Monday, April 3rd. Pivotal Research lifted their target price on Yahoo! from $41.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, April 13th. BMO Capital Markets reissued a “hold” rating and issued a $47.00 target price on shares of Yahoo! in a research report on Monday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of Yahoo! in a research report on Tuesday, April 18th. Finally, B. Riley restated a “neutral” rating and issued a $48.00 price target on shares of Yahoo! in a research note on Wednesday, April 19th. Fourteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $50.50.

An institutional investor recently bought a new position in Yahoo! stock. Towerview LLC purchased a new position in Yahoo! Inc. (NASDAQ:AABA) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 175,000 shares of the company’s stock, valued at approximately $9,534,000. Yahoo! makes up about 4.8% of Towerview LLC’s holdings, making the stock its 6th largest position. Hedge funds and other institutional investors own 82.20% of the company’s stock.

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Yahoo! Company Profile

Altaba Inc (the Fund), formerly Yahoo! Inc, is a non-diversified, closed-end management investment company. The Fund seeks to track the combined investment return of the Alibaba Shares and the Yahoo Japan Shares it owns. Alibaba Shares represent an approximate 15% equity interest in Alibaba Group Holding Limited (Alibaba), and its Yahoo Japan Corporation ((Yahoo Japa) Shares represent an approximate 36% equity interest in Yahoo Japan.

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