Glenhill Advisors LLC lifted its position in Altaba Inc (NASDAQ:AABA) by 31.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,036,500 shares of the company’s stock after purchasing an additional 487,754 shares during the period. Altaba comprises about 10.5% of Glenhill Advisors LLC’s portfolio, making the stock its biggest holding. Glenhill Advisors LLC owned about 0.23% of Altaba worth $142,249,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of AABA. First Republic Investment Management Inc. grew its holdings in shares of Altaba by 5.1% in the fourth quarter. First Republic Investment Management Inc. now owns 16,825 shares of the company’s stock valued at $1,175,000 after purchasing an additional 815 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Altaba by 14.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,735 shares of the company’s stock worth $610,000 after purchasing an additional 1,106 shares in the last quarter. Commerce Bank lifted its position in shares of Altaba by 22.8% during the fourth quarter. Commerce Bank now owns 6,190 shares of the company’s stock worth $433,000 after purchasing an additional 1,150 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Altaba during the fourth quarter worth about $103,000. Finally, Bronfman E.L. Rothschild L.P. lifted its position in shares of Altaba by 57.2% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 5,617 shares of the company’s stock worth $392,000 after purchasing an additional 2,043 shares in the last quarter. Hedge funds and other institutional investors own 73.85% of the company’s stock.
In related news, major shareholder Tci Fund Management Ltd sold 1,214,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $74.20, for a total transaction of $90,078,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alexi Wellman sold 1,262 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $76.90, for a total value of $97,047.80. The disclosure for this sale can be found here. Insiders sold 1,217,202 shares of company stock worth $90,321,425 over the last ninety days. 24.00% of the stock is owned by corporate insiders.
Altaba Inc (NASDAQ:AABA) traded up $1.23 during mid-day trading on Wednesday, hitting $77.20. The company had a trading volume of 4,950,000 shares, compared to its average volume of 7,690,000. Altaba Inc has a twelve month low of $45.60 and a twelve month high of $80.56. The firm has a market cap of $67,420.00, a price-to-earnings ratio of 2.86 and a beta of 2.00.
Several brokerages recently weighed in on AABA. BidaskClub raised shares of Altaba from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Vetr cut shares of Altaba from a “hold” rating to a “sell” rating and set a $73.32 price objective on the stock. in a report on Tuesday, January 23rd. Credit Suisse Group raised their target price on shares of Altaba from $81.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of Altaba to $90.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, UBS Group reiterated a “buy” rating and issued a $98.00 price objective (up from $92.00) on shares of Altaba in a research report on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $71.96.
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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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