Altaba (AABA) Upgraded by BidaskClub to Sell

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

AABA has been the subject of a number of other reports. Gabelli cut shares of Altaba from a buy rating to a hold rating in a research report on Wednesday, July 11th. Credit Suisse Group upped their price objective on shares of Altaba from $80.00 to $82.00 and gave the company a neutral rating in a research report on Tuesday, July 10th. ValuEngine cut shares of Altaba from a buy rating to a hold rating in a research report on Wednesday, August 15th. MKM Partners decreased their price objective on shares of Altaba to $115.00 and set a buy rating for the company in a research report on Thursday, August 16th. Finally, JPMorgan Chase & Co. reissued an overweight rating and issued a $88.00 price objective (down from $91.00) on shares of Altaba in a research report on Friday, August 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $94.75.

NASDAQ:AABA traded down $1.13 on Friday, reaching $61.73. The stock had a trading volume of 6,845,371 shares, compared to its average volume of 8,185,753. Altaba has a 12-month low of $55.76 and a 12-month high of $82.45.

A number of large investors have recently bought and sold shares of AABA. LMR Partners LLP raised its stake in shares of Altaba by 387.3% in the 2nd quarter. LMR Partners LLP now owns 7,729,900 shares of the company’s stock valued at $565,906,000 after purchasing an additional 6,143,500 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Altaba in the 2nd quarter valued at about $209,414,000. Coronation Fund Managers Ltd. raised its stake in shares of Altaba by 565.9% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 753,454 shares of the company’s stock valued at $55,161,000 after purchasing an additional 640,303 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Altaba by 651.0% in the 2nd quarter. TD Asset Management Inc. now owns 610,600 shares of the company’s stock valued at $44,702,000 after purchasing an additional 529,300 shares in the last quarter. Finally, Fred Alger Management Inc. raised its stake 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 purchasing an additional 525,060 shares in the last quarter. 83.18% of the stock is owned by institutional investors.

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.

Further Reading: Fundamental Analysis and Individual Investors

Analyst Recommendations for Altaba (NASDAQ:AABA)

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