Short Interest in Altaba Inc (AABA) Rises By 19.2%
Altaba Inc (NASDAQ:AABA) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 28,308,876 shares, an increase of 19.2% from the January 12th total of 23,750,001 shares. Based on an average daily volume of 8,208,679 shares, the days-to-cover ratio is currently 3.4 days. Currently, 3.5% of the shares of the stock are sold short.
Several equities research analysts have issued reports on the stock. BidaskClub raised shares of Altaba from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Vetr cut shares of Altaba from a “hold” rating to a “sell” rating and set a $73.32 target price on the stock. in a research note on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Altaba presently has a consensus rating of “Buy” and a consensus target price of $60.78.
Altaba (AABA) opened at $70.48 on Monday. Altaba has a fifty-two week low of $44.64 and a fifty-two week high of $80.56. The company has a market capitalization of $61,560.00, a price-to-earnings ratio of 37.69 and a beta of 2.01.
Hedge funds and other institutional investors have recently bought and sold shares of the company. SeaCrest Wealth Management LLC purchased a new position in shares of Altaba during the 4th quarter worth $103,000. Cullen Frost Bankers Inc. purchased a new position in shares of Altaba during the 4th quarter worth $200,000. Palladium Partners LLC purchased a new position in shares of Altaba during the 4th quarter worth $203,000. Centaurus Financial Inc. purchased a new position in shares of Altaba during the 4th quarter worth $208,000. Finally, Sigma Planning Corp purchased a new position in shares of Altaba during the 4th quarter worth $209,000. Institutional investors and hedge funds own 80.28% of the company’s stock.
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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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