Investors bought shares of Yahoo! Inc. (NASDAQ:AABA) on weakness during trading on Thursday. $189.27 million flowed into the stock on the tick-up and $53.48 million flowed out of the stock on the tick-down, for a money net flow of $135.79 million into the stock. Of all equities tracked, Yahoo! had the 3rd highest net in-flow for the day. Yahoo! traded down ($0.47) for the day and closed at $58.43
A number of equities research analysts recently commented on the stock. UBS AG reissued a “buy” rating on shares of Yahoo! in a research report on Monday, July 17th. Oppenheimer Holdings, Inc. assumed coverage on shares of Yahoo! in a research report on Thursday, July 6th. They set an “outperform” rating and a $75.00 target price for the company. Zacks Investment Research raised shares of Yahoo! from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Wednesday, July 12th. J P Morgan Chase & Co assumed coverage on shares of Yahoo! in a research report on Wednesday, June 28th. They set an “overweight” rating for the company. Finally, Raymond James Financial, Inc. reissued an “outperform” rating and set a $72.00 target price (up previously from $58.00) on shares of Yahoo! in a research report on Sunday, June 18th. Fourteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $50.50.
The company’s market cap is $56.72 billion. The stock’s 50-day moving average is $55.55 and its 200-day moving average is $48.99.
A hedge fund recently bought a new stake in Yahoo! stock. Congress Asset Management Co. MA acquired a new stake in shares of Yahoo! Inc. (NASDAQ:AABA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,500 shares of the company’s stock, valued at approximately $300,000. 82.20% of the stock is currently owned by institutional investors and hedge funds.
About Yahoo!
Altaba Inc (the Fund), formerly Yahoo! Inc, is a non-diversified, closed-end management investment company. The Fund seeks to track the combined investment return of the Alibaba Shares and the Yahoo Japan Shares it owns. Alibaba Shares represent an approximate 15% equity interest in Alibaba Group Holding Limited (Alibaba), and its Yahoo Japan Corporation ((Yahoo Japa) Shares represent an approximate 36% equity interest in Yahoo Japan.
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