Investors sold shares of Yahoo! Inc. (NASDAQ:AABA) on strength during trading on Friday. $51.64 million flowed into the stock on the tick-up and $212.17 million flowed out of the stock on the tick-down, for a money net flow of $160.53 million out of the stock. Of all companies tracked, Yahoo! had the 4th highest net out-flow for the day. Yahoo! traded up $0.87 for the day and closed at $63.07
AABA has been the subject of a number of analyst reports. Vetr upgraded shares of Yahoo! from a “sell” rating to a “buy” rating and set a $53.02 price objective for the company in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Yahoo! from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Thursday, June 15th. J P Morgan Chase & Co initiated coverage on shares of Yahoo! in a research report on Wednesday, June 28th. They issued an “overweight” rating for the company. MKM Partners reiterated a “buy” rating and issued a $62.00 price objective (up previously from $58.00) on shares of Yahoo! in a research report on Wednesday, May 17th. Finally, BidaskClub downgraded shares of Yahoo! from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Fourteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Yahoo! currently has an average rating of “Buy” and a consensus price target of $50.50.
The firm’s market cap is $60.50 billion. The stock has a 50 day moving average price of $57.72 and a 200-day moving average price of $50.58.
Large investors have recently added to or reduced their stakes in the company. Cowen Prime Services LLC acquired a new stake in Yahoo! during the second quarter valued at about $183,000. Parallel Advisors LLC acquired a new stake in Yahoo! during the second quarter valued at about $208,000. SG Americas Securities LLC acquired a new stake in Yahoo! during the second quarter valued at about $221,000. Fernwood Investment Management LLC acquired a new stake in Yahoo! during the second quarter valued at about $223,000. Finally, Congress Asset Management Co. MA acquired a new stake in Yahoo! during the second quarter valued at about $300,000. Institutional investors own 80.77% of the company’s stock.
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Yahoo! Company Profile
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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