Altaba Inc (AABA) Short Interest Up 9.1% in September
Altaba Inc (NASDAQ:AABA) saw a large increase in short interest during the month of September. As of September 28th, there was short interest totalling 24,789,924 shares, an increase of 9.1% from the September 14th total of 22,718,777 shares. Based on an average daily trading volume, of 8,079,091 shares, the days-to-cover ratio is currently 3.1 days. Currently, 3.1% of the shares of the company are sold short.
A number of large investors have recently modified their holdings of AABA. Kiley Juergens Wealth Management LLC bought a new stake in Altaba in the 2nd quarter valued at about $143,000. NEXT Financial Group Inc bought a new stake in Altaba in the 3rd quarter valued at about $154,000. IMA Wealth Inc. bought a new stake in Altaba in the 2nd quarter valued at about $157,000. Comerica Bank bought a new stake in Altaba in the 2nd quarter valued at about $204,000. Finally, Pitcairn Co. bought a new stake in Altaba in the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 83.90% of the company’s stock.
A number of research firms have recently issued reports on AABA. BidaskClub downgraded shares of Altaba from a “sell” rating to a “strong sell” rating in a research report on Tuesday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $88.00 price target (down from $91.00) on shares of Altaba in a research report on Friday, August 24th. MKM Partners reduced their price target on shares of Altaba to $115.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. ValuEngine downgraded shares of Altaba from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, Gabelli downgraded shares of Altaba from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $94.75.
Altaba Company Profile
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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