Altaba (NASDAQ:AABA) Downgraded by BidaskClub to Sell

BidaskClub cut shares of Altaba (NASDAQ:AABA) from a hold rating to a sell rating in a research note issued to investors on Tuesday, BidAskClub reports.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Realogy from $14.00 to $12.00 and set an underweight rating for the company in a research report on Thursday, April 4th. ValuEngine lowered shares of Valero Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research upgraded shares of Investar from a hold rating to a buy rating and set a $27.00 price target for the company in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Altaba currently has a consensus rating of Hold and a consensus target price of $96.50.

NASDAQ AABA opened at $69.28 on Tuesday. The company’s 50-day simple moving average is $65.95. Altaba has a 12-month low of $54.75 and a 12-month high of $79.18.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Altaba by 15.7% in the fourth quarter. BlackRock Inc. now owns 1,811,316 shares of the company’s stock worth $104,948,000 after buying an additional 245,434 shares in the last quarter. Raymond James & Associates raised its stake in Altaba by 106.8% in the fourth quarter. Raymond James & Associates now owns 151,717 shares of the company’s stock worth $8,790,000 after buying an additional 78,351 shares in the last quarter. Advisor Group Inc. raised its stake in Altaba by 18.2% in the fourth quarter. Advisor Group Inc. now owns 9,339 shares of the company’s stock worth $541,000 after buying an additional 1,436 shares in the last quarter. LMR Partners LLP raised its stake in Altaba by 111.7% in the fourth quarter. LMR Partners LLP now owns 1,125,396 shares of the company’s stock worth $65,205,000 after buying an additional 593,751 shares in the last quarter. Finally, Maven Securities LTD raised its stake in Altaba by 30.2% in the fourth quarter. Maven Securities LTD now owns 99,658 shares of the company’s stock worth $5,787,000 after buying an additional 23,123 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

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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