Altaba Inc (AABA) Given Average Rating of “Hold” by Brokerages

Shares of Altaba Inc (NASDAQ:AABA) have earned an average recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $91.67.

Several equities research analysts have weighed in on the company. BidaskClub upgraded Altaba from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. JPMorgan Chase & Co. cut Altaba from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $84.00 to $78.00 in a research note on Thursday.

Several large investors have recently bought and sold shares of the company. Actinver Wealth Management Inc. bought a new position in shares of Altaba during the fourth quarter valued at approximately $484,000. Huntington National Bank increased its stake in Altaba by 224.2% during the 4th quarter. Huntington National Bank now owns 1,446 shares of the company’s stock valued at $84,000 after purchasing an additional 1,000 shares in the last quarter. Norges Bank bought a new stake in Altaba during the 4th quarter valued at about $255,165,000. Watermark Asset Management Inc. raised its holdings in Altaba by 720.0% in the fourth quarter. Watermark Asset Management Inc. now owns 615 shares of the company’s stock worth $36,000 after buying an additional 540 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Altaba by 69.2% in the fourth quarter. CWM LLC now owns 1,535 shares of the company’s stock worth $89,000 after buying an additional 628 shares in the last quarter. 70.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Altaba stock traded up $0.21 during trading on Wednesday, reaching $74.22. 1,461,902 shares of the stock were exchanged, compared to its average volume of 7,535,902. Altaba has a 1 year low of $54.75 and a 1 year high of $82.45.

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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