Traders Buy Yahoo! Inc. (NASDAQ:AABA) on Weakness

Traders bought shares of Yahoo! Inc. (NASDAQ:AABA) on weakness during trading hours on Monday. $48.50 million flowed into the stock on the tick-up and $24.70 million flowed out of the stock on the tick-down, for a money net flow of $23.80 million into the stock. Of all companies tracked, Yahoo! had the 18th highest net in-flow for the day. Yahoo! traded down ($0.01) for the day and closed at $58.15

AABA has been the subject of a number of recent analyst reports. Oppenheimer Holdings, Inc. initiated coverage on Yahoo! in a research report on Thursday, July 6th. They set an “outperform” rating and a $75.00 price target for the company. UBS AG reaffirmed a “buy” rating on shares of Yahoo! in a research report on Monday, July 17th. Zacks Investment Research raised Yahoo! from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Wednesday, July 12th. Vetr upgraded Yahoo! from a “sell” rating to a “buy” rating and set a $53.02 target price on the stock in a report on Wednesday, May 3rd. Finally, J P Morgan Chase & Co started coverage on Yahoo! in a report on Wednesday, June 28th. They set an “overweight” rating on the stock. Fourteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $50.50.

The company has a 50-day moving average of $57.97 and a 200-day moving average of $50.71. The company’s market capitalization is $60.50 billion.

A number of large investors have recently made changes to their positions in the company. Congress Asset Management Co. MA bought a new stake in shares of Yahoo! during the second quarter valued at approximately $300,000. Towerview LLC bought a new stake in shares of Yahoo! during the second quarter valued at approximately $9,534,000. IFP Advisors Inc bought a new stake in shares of Yahoo! during the second quarter valued at approximately $350,000. Rhumbline Advisers bought a new stake in shares of Yahoo! during the second quarter valued at approximately $3,364,000. Finally, SG Americas Securities LLC bought a new stake in shares of Yahoo! during the second quarter valued at approximately $221,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

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About Yahoo!

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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