Altaba Inc (NASDAQ:AABA) Short Interest Update

Altaba Inc (NASDAQ:AABA) Short Interest Update

Altaba Inc (NASDAQ:AABA) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 24,719,649 shares, a decline of 42.8% from the August 15th total of 43,230,031 shares. Based on an average trading volume of 8,440,342 shares, the days-to-cover ratio is presently 2.9 days. Approximately 3.1% of the shares of the company are sold short.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Canyon Capital Advisors LLC lifted its position in shares of Altaba by 0.8% during the 2nd quarter. Canyon Capital Advisors LLC now owns 43,603,522 shares of the company’s stock valued at $3,192,214,000 after acquiring an additional 325,000 shares during the period. OZ Management LP lifted its position in shares of Altaba by 19.1% during the 1st quarter. OZ Management LP now owns 14,510,033 shares of the company’s stock valued at $1,074,323,000 after acquiring an additional 2,326,938 shares during the period. Hsbc Holdings PLC lifted its position in shares of Altaba by 14.7% during the 1st quarter. Hsbc Holdings PLC now owns 9,362,013 shares of the company’s stock valued at $693,163,000 after acquiring an additional 1,203,272 shares during the period. LMR Partners LLP lifted its position in shares of Altaba by 387.3% during the 2nd quarter. LMR Partners LLP now owns 7,729,900 shares of the company’s stock valued at $565,906,000 after acquiring an additional 6,143,500 shares during the period. Finally, MSD Partners L.P. lifted its position in shares of Altaba by 12.9% during the 1st quarter. MSD Partners L.P. now owns 3,849,148 shares of the company’s stock valued at $284,991,000 after acquiring an additional 440,561 shares during the period. Institutional investors and hedge funds own 83.90% of the company’s stock.

AABA traded down $1.57 during trading on Tuesday, hitting $61.52. The stock had a trading volume of 15,858,400 shares, compared to its average volume of 9,043,934. Altaba has a one year low of $61.44 and a one year high of $82.45.

Several analysts recently issued reports on the company. BidaskClub downgraded Altaba from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Credit Suisse Group boosted their price target on Altaba from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, July 10th. Gabelli downgraded Altaba from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. ValuEngine downgraded Altaba from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, MKM Partners reduced their price target on Altaba to $115.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $94.75.

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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