Altaba (AABA) Cut to “Hold” at BidaskClub

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BidaskClub downgraded shares of Altaba (NASDAQ:AABA) from a buy rating to a hold rating in a report released on Tuesday morning.

Shares of AABA opened at $73.64 on Tuesday. Altaba has a 12-month low of $54.75 and a 12-month high of $82.45.

Several institutional investors and hedge funds have recently made changes to their positions in AABA. MSD Partners L.P. increased its position in shares of Altaba by 4.7% in the fourth quarter. MSD Partners L.P. now owns 1,963,741 shares of the company’s stock worth $113,779,000 after acquiring an additional 87,379 shares in the last quarter. Norges Bank purchased a new position in shares of Altaba in the fourth quarter worth approximately $255,165,000. Actinver Wealth Management Inc. purchased a new position in shares of Altaba in the fourth quarter worth approximately $484,000. Foster Victor Wealth Advisors LLC purchased a new position in shares of Altaba in the fourth quarter worth approximately $447,000. Finally, FMR LLC increased its position in shares of Altaba by 34.7% in the fourth quarter. FMR LLC now owns 2,531,212 shares of the company’s stock worth $146,658,000 after acquiring an additional 652,283 shares in the last quarter. 70.24% of the stock is currently owned by institutional investors.

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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