Towerview LLC cut its stake in Altaba Inc (NASDAQ:AABA) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,000 shares of the company’s stock after selling 25,000 shares during the period. Altaba accounts for approximately 5.1% of Towerview LLC’s portfolio, making the stock its 5th largest position. Towerview LLC’s holdings in Altaba were worth $8,691,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Baupost Group LLC MA purchased a new position in shares of Altaba during the third quarter valued at approximately $191,470,000. Alpine Global Management LLC purchased a new position in shares of Altaba during the third quarter valued at approximately $68,120,000. FIL Ltd lifted its holdings in shares of Altaba by 85.0% during the third quarter. FIL Ltd now owns 2,036,808 shares of the company’s stock valued at $138,747,000 after purchasing an additional 935,768 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in shares of Altaba by 163.5% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,128,150 shares of the company’s stock valued at $76,850,000 after purchasing an additional 700,000 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Altaba by 25.5% during the third quarter. Morgan Stanley now owns 2,548,105 shares of the company’s stock valued at $173,578,000 after purchasing an additional 518,394 shares during the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.
Several equities research analysts recently weighed in on the stock. BidaskClub raised shares of Altaba from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. JPMorgan Chase & Co. reduced their price target on shares of Altaba to $80.00 and set an “overweight” rating for the company in a research report on Monday, November 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $93.42.
Shares of AABA traded up $0.17 on Monday, hitting $68.69. 49,581 shares of the stock traded hands, compared to its average volume of 6,748,562. Altaba Inc has a one year low of $54.75 and a one year high of $82.45.
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.
Featured Story: SEC Filing
Want to see what other hedge funds are holding AABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altaba Inc (NASDAQ:AABA).
Receive News & Ratings for Altaba Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altaba and related companies with MarketBeat.com's FREE daily email newsletter.