Altaba Inc (AABA) Short Interest Down 20.0% in October

Altaba Inc (NASDAQ:AABA) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 19,832,709 shares, a decline of 20.0% from the September 28th total of 24,789,924 shares. Currently, 2.5% of the company’s shares are short sold. Based on an average trading volume of 10,328,721 shares, the short-interest ratio is currently 1.9 days.

Shares of Altaba stock opened at $60.17 on Monday. Altaba has a one year low of $57.61 and a one year high of $82.45.

Institutional investors have recently modified their holdings of the company. Kiley Juergens Wealth Management LLC bought a new stake in shares of Altaba in the second quarter valued at about $143,000. IMA Wealth Inc. bought a new stake in shares of Altaba in the second quarter valued at about $157,000. NEXT Financial Group Inc bought a new stake in shares of Altaba in the third quarter valued at about $154,000. Comerica Bank bought a new stake in shares of Altaba in the second quarter valued at about $204,000. Finally, Pitcairn Co. bought a new stake in shares of Altaba in the second quarter valued at about $209,000. Institutional investors own 83.24% of the company’s stock.



Several research analysts have weighed in on AABA shares. MKM Partners reduced their target price on Altaba to $115.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. BidaskClub lowered Altaba from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $88.00 price target (down from $91.00) on shares of Altaba in a report on Friday, August 24th. Credit Suisse Group boosted their price target on Altaba from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, July 10th. Finally, ValuEngine lowered Altaba from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Altaba has a consensus rating of “Hold” and a consensus target price of $94.75.

About Altaba

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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