Alpine Group USVI LLC bought a new stake in Altaba Inc (NASDAQ:AABA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,481,468 shares of the company’s stock, valued at approximately $28,859,000. Altaba makes up about 7.4% of Alpine Group USVI LLC’s investment portfolio, making the stock its 4th largest position. Alpine Group USVI LLC owned approximately 0.29% of Altaba as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new stake in shares of Altaba during the second quarter worth $25,000. HM Payson & Co. bought a new stake in shares of Altaba during the second quarter worth $28,000. Doyle Wealth Management bought a new stake in shares of Altaba during the second quarter worth $32,000. Exane Derivatives bought a new stake in shares of Altaba during the second quarter worth $46,000. Finally, Destination Wealth Management increased its position in shares of Altaba by 51.0% during the second quarter. Destination Wealth Management now owns 711 shares of the company’s stock worth $49,000 after acquiring an additional 240 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on AABA shares. ValuEngine raised shares of Altaba from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. TheStreet downgraded shares of Altaba from a “c” rating to a “d+” rating in a research report on Tuesday, September 24th. Finally, BidaskClub raised shares of Altaba from a “sell” rating to a “hold” rating in a research report on Saturday, September 21st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $78.00.
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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