Hanson McClain Inc. lifted its stake in shares of Altaba Inc (NASDAQ:AABA) by 118.8% in the 1st quarter, HoldingsChannel reports. The fund owned 875 shares of the company’s stock after acquiring an additional 475 shares during the period. Hanson McClain Inc.’s holdings in Altaba were worth $65,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Actinver Wealth Management Inc. bought a new stake in shares of Altaba during the 4th quarter worth about $484,000. Huntington National Bank boosted its stake in Altaba by 224.2% during the 4th quarter. Huntington National Bank now owns 1,446 shares of the company’s stock valued at $84,000 after purchasing an additional 1,000 shares during the period. Norges Bank bought a new stake in Altaba during the 4th quarter valued at approximately $255,165,000. CWM LLC boosted its stake in Altaba by 69.2% during the 4th quarter. CWM LLC now owns 1,535 shares of the company’s stock valued at $89,000 after purchasing an additional 628 shares during the period. Finally, Samlyn Capital LLC bought a new stake in Altaba during the 4th quarter valued at approximately $78,636,000. Institutional investors own 71.41% of the company’s stock.
Several analysts recently weighed in on AABA shares. JPMorgan Chase & Co. downgraded Altaba from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $84.00 to $78.00 in a research note on Thursday, April 4th. BidaskClub downgraded Altaba from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Zacks Investment Research downgraded Altaba from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 30th. Finally, ValuEngine upgraded Altaba from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $91.67.
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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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