Traders Buy Altaba (AABA) on Weakness

Investors purchased shares of Altaba Inc (NASDAQ:AABA) on weakness during trading on Thursday. $159.41 million flowed into the stock on the tick-up and $57.23 million flowed out of the stock on the tick-down, for a money net flow of $102.18 million into the stock. Of all stocks tracked, Altaba had the 14th highest net in-flow for the day. Altaba traded down ($2.22) for the day and closed at $72.57

Separately, BidaskClub raised shares of Altaba from a “sell” rating to a “hold” rating in a research note on Friday, February 22nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Altaba presently has a consensus rating of “Buy” and a consensus target price of $92.33.

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A number of large investors have recently bought and sold shares of AABA. FMR LLC grew its holdings in Altaba by 3.8% in the second quarter. FMR LLC now owns 1,775,049 shares of the company’s stock worth $129,952,000 after purchasing an additional 64,603 shares during the period. Locust Wood Capital Advisers LLC grew its holdings in Altaba by 118.1% in the third quarter. Locust Wood Capital Advisers LLC now owns 589,886 shares of the company’s stock worth $40,183,000 after purchasing an additional 319,380 shares during the period. Commonwealth Equity Services LLC grew its holdings in Altaba by 4.6% in the third quarter. Commonwealth Equity Services LLC now owns 49,676 shares of the company’s stock worth $3,383,000 after purchasing an additional 2,192 shares during the period. Motley Fool Asset Management LLC grew its holdings in Altaba by 27.7% in the third quarter. Motley Fool Asset Management LLC now owns 11,080 shares of the company’s stock worth $755,000 after purchasing an additional 2,404 shares during the period. Finally, MML Investors Services LLC grew its holdings in Altaba by 58.7% in the third quarter. MML Investors Services LLC now owns 6,200 shares of the company’s stock worth $422,000 after purchasing an additional 2,294 shares during the period. Institutional investors and hedge funds own 69.95% of the company’s stock.

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About Altaba (NASDAQ:AABA)

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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