Yahoo! Inc. (NASDAQ:AABA)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $60.27 and last traded at $60.16, with a volume of 1,655,762 shares. The stock had previously closed at $60.03.
A number of equities analysts recently commented on the stock. UBS AG reaffirmed a “buy” rating and issued a $58.00 price objective (up previously from $50.00) on shares of Yahoo! in a research note on Wednesday, May 24th. B. Riley reaffirmed a “neutral” rating and issued a $48.00 price objective on shares of Yahoo! in a research note on Wednesday, April 19th. BidaskClub lowered shares of Yahoo! from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. J P Morgan Chase & Co assumed coverage on shares of Yahoo! in a research note on Wednesday, June 28th. They issued an “overweight” rating for the company. Finally, Vetr lowered shares of Yahoo! from a “buy” rating to a “hold” rating and set a $49.02 price objective for the company. in a research note on Monday, April 10th. Fourteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Yahoo! currently has a consensus rating of “Buy” and a consensus target price of $50.50.
The company’s market cap is $57.74 billion. The stock has a 50-day moving average of $55.83 and a 200-day moving average of $49.33.
A number of institutional investors have recently added to or reduced their stakes in AABA. Cowen Prime Services LLC purchased a new position in Yahoo! during the second quarter valued at approximately $183,000. Parallel Advisors LLC purchased a new position in Yahoo! during the second quarter valued at approximately $208,000. SG Americas Securities LLC purchased a new position in Yahoo! during the second quarter valued at approximately $221,000. Fernwood Investment Management LLC purchased a new position in Yahoo! during the second quarter valued at approximately $223,000. Finally, Congress Asset Management Co. MA purchased a new position in Yahoo! during the second quarter valued at approximately $300,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
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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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