Paloma Partners Management Co Sells 30,843 Shares of Altaba Inc (AABA)

Paloma Partners Management Co lessened its stake in shares of Altaba Inc (NASDAQ:AABA) by 26.7% during the fourth quarter, HoldingsChannel reports. The firm owned 84,600 shares of the company’s stock after selling 30,843 shares during the period. Paloma Partners Management Co’s holdings in Altaba were worth $5,910,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlantic Trust Group LLC lifted its stake in shares of Altaba by 97.8% during the third quarter. Atlantic Trust Group LLC now owns 41,370 shares of the company’s stock worth $2,740,000 after purchasing an additional 20,458 shares in the last quarter. Addison Capital Co acquired a new position in shares of Altaba during the fourth quarter worth about $526,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Altaba during the third quarter worth about $505,000. FNY Managed Accounts LLC acquired a new position in shares of Altaba during the fourth quarter worth about $8,224,000. Finally, Hudson Bay Capital Management LP lifted its stake in shares of Altaba by 89.7% during the fourth quarter. Hudson Bay Capital Management LP now owns 7,167,499 shares of the company’s stock worth $500,650,000 after purchasing an additional 3,390,092 shares in the last quarter. Institutional investors own 73.85% of the company’s stock.

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Shares of Altaba Inc (AABA) opened at $77.56 on Tuesday. Altaba Inc has a 52-week low of $45.60 and a 52-week high of $80.56. The stock has a market capitalization of $66,918.23, a PE ratio of -3,876.06 and a beta of 2.00.

AABA has been the topic of a number of recent research reports. Oppenheimer boosted their price objective on Altaba from $98.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. UBS Group restated a “buy” rating and set a $98.00 price objective (up previously from $92.00) on shares of Altaba in a research note on Thursday, February 22nd. BidaskClub cut Altaba from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. JPMorgan Chase & Co. boosted their price objective on Altaba to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Vetr upgraded Altaba from a “sell” rating to a “hold” rating and set a $73.32 price objective on the stock in a research note on Monday, February 5th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $71.96.

In related news, CFO Alexi Wellman sold 1,940 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $75.04, for a total value of $145,577.60. Following the completion of the sale, the chief financial officer now directly owns 17,905 shares of the company’s stock, valued at $1,343,591.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $74.20, for a total value of $90,078,800.00. The disclosure for this sale can be found here. 24.00% of the stock is currently owned by insiders.

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Altaba 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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Institutional Ownership by Quarter for Altaba (NASDAQ:AABA)

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