Altaba Inc (AABA) Receives Average Rating of “Hold” from Brokerages

Shares of Altaba Inc (NASDAQ:AABA) have been given an average rating of “Hold” by the six brokerages that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $92.33.

Separately, BidaskClub raised Altaba from a “sell” rating to a “hold” rating in a research note on Friday, February 22nd.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Altaba during the fourth quarter valued at approximately $255,165,000. Baupost Group LLC MA bought a new position in Altaba during the third quarter valued at approximately $191,470,000. Samlyn Capital LLC bought a new position in Altaba during the fourth quarter valued at approximately $78,636,000. Alpine Global Management LLC bought a new position in Altaba during the third quarter valued at approximately $68,120,000. Finally, FIL Ltd boosted its stake in Altaba by 85.0% during the third quarter. FIL Ltd now owns 2,036,808 shares of the company’s stock valued at $138,747,000 after buying an additional 935,768 shares during the last quarter. 70.24% of the stock is owned by hedge funds and other institutional investors.

AABA traded down $0.17 during midday trading on Friday, reaching $73.47. The company had a trading volume of 3,982,900 shares, compared to its average volume of 6,868,424. Altaba has a 1 year low of $54.75 and a 1 year high of $82.45.

About Altaba

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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