BidaskClub upgraded shares of Altaba (NASDAQ:AABA) from a hold rating to a buy rating in a research note released on Friday morning.
Several other equities research analysts have also commented on AABA. MKM Partners reaffirmed a buy rating and set a $76.00 price target on shares of Altaba in a research report on Friday, September 1st. UBS Group reaffirmed a buy rating and set a $77.00 price target on shares of Altaba in a research report on Friday, September 22nd. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $54.45.
Shares of Altaba (NASDAQ AABA) opened at $71.58 on Friday. Altaba has a 52-week low of $38.37 and a 52-week high of $73.25. The company has a market cap of $62,520.00, a PE ratio of 38.28 and a beta of 1.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.87 and a current ratio of 6.87.
Several hedge funds and other institutional investors have recently bought and sold shares of AABA. Canada Pension Plan Investment Board boosted its position in shares of Altaba by 315.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 5,926,117 shares of the company’s stock valued at $392,546,000 after acquiring an additional 4,500,000 shares during the last quarter. Disciplined Growth Investors Inc. MN purchased a new stake in Altaba during the 2nd quarter valued at $128,338,000. Cibc World Markets Corp purchased a new stake in Altaba during the 2nd quarter valued at $108,960,000. Scoggin Management LP raised its holdings in Altaba by 33.4% during the 3rd quarter. Scoggin Management LP now owns 2,077,484 shares of the company’s stock valued at $137,613,000 after buying an additional 520,050 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Altaba by 6,364.1% during the 3rd quarter. SG Americas Securities LLC now owns 261,927 shares of the company’s stock valued at $17,350,000 after buying an additional 257,875 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.
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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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