Investors Buy Altaba (AABA) on Weakness

Traders purchased shares of Altaba Inc (NASDAQ:AABA) on weakness during trading hours on Friday. $263.73 million flowed into the stock on the tick-up and $23.16 million flowed out of the stock on the tick-down, for a money net flow of $240.57 million into the stock. Of all companies tracked, Altaba had the 3rd highest net in-flow for the day. Altaba traded down ($0.13) for the day and closed at $75.98

A number of brokerages recently issued reports on AABA. BidaskClub upgraded Altaba from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. downgraded Altaba from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $84.00 to $78.00 in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $91.67.

Large investors have recently made changes to their positions in the stock. Actinver Wealth Management Inc. purchased a new position in Altaba during the 4th quarter valued at about $484,000. Huntington National Bank grew its holdings in shares of Altaba by 224.2% during the 4th quarter. Huntington National Bank now owns 1,446 shares of the company’s stock worth $84,000 after acquiring an additional 1,000 shares during the period. Norges Bank purchased a new position in shares of Altaba during the 4th quarter worth approximately $255,165,000. Watermark Asset Management Inc. grew its holdings in shares of Altaba by 720.0% during the 4th quarter. Watermark Asset Management Inc. now owns 615 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares during the period. Finally, CWM LLC grew its holdings in shares of Altaba by 69.2% during the 4th quarter. CWM LLC now owns 1,535 shares of the company’s stock worth $89,000 after acquiring an additional 628 shares during the period. Institutional investors own 70.77% of the company’s stock.

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About Altaba (NASDAQ:AABA)

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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