Brokerages Set Altaba Inc (AABA) PT at $94.75

Altaba Inc (NASDAQ:AABA) has been given an average recommendation of “Hold” by the nine research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $94.75.

A number of equities research analysts have commented on AABA shares. BidaskClub cut Altaba from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Credit Suisse Group raised their price objective on Altaba from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, July 10th. Gabelli cut Altaba from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. ValuEngine cut Altaba from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, MKM Partners reduced their price objective on Altaba to $115.00 and set a “buy” rating for the company in a research note on Thursday, August 16th.

Several hedge funds have recently bought and sold shares of AABA. BlackRock Inc. lifted its holdings in shares of Altaba by 7.8% in the first quarter. BlackRock Inc. now owns 843,574 shares of the company’s stock valued at $62,459,000 after purchasing an additional 61,080 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Altaba in the first quarter valued at approximately $328,000. Baird Financial Group Inc. lifted its holdings in shares of Altaba by 5.2% in the first quarter. Baird Financial Group Inc. now owns 16,238 shares of the company’s stock valued at $1,202,000 after purchasing an additional 797 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Altaba by 4.7% in the first quarter. Commonwealth Equity Services LLC now owns 51,192 shares of the company’s stock valued at $3,790,000 after purchasing an additional 2,318 shares in the last quarter. Finally, United Capital Financial Advisers LLC lifted its holdings in shares of Altaba by 291.2% in the first quarter. United Capital Financial Advisers LLC now owns 81,167 shares of the company’s stock valued at $6,010,000 after purchasing an additional 60,420 shares in the last quarter. Institutional investors own 83.90% of the company’s stock.

Altaba stock traded up $2.05 during mid-day trading on Wednesday, reaching $61.98. The stock had a trading volume of 7,631,477 shares, compared to its average volume of 9,084,184. Altaba has a fifty-two week low of $57.61 and a fifty-two week high of $82.45.

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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Analyst Recommendations for Altaba (NASDAQ:AABA)

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