Short Interest in AllianceBernstein Holding Declines By 53.4% (AB)
Shares of AllianceBernstein Holding (NYSE:AB) were the target of a large decline in short interest in June. As of June 13th, there was short interest totalling 1,205,280 shares, a decline of 53.4% from the May 30th total of 2,588,334 shares, American Banking and Market News reports. Based on an average daily volume of 444,505 shares, the short-interest ratio is currently 2.7 days. Currently, 1.4% of the company’s stock are short sold.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of AllianceBernstein Holding in a research note on Thursday, June 12th. They now have a $27.00 price target on the stock, up previously from $26.00. Separately, analysts at Morgan Stanley cut their price target on shares of AllianceBernstein Holding from $27.00 to $26.00 in a research note on Monday, June 9th. Finally, analysts at Zacks downgraded shares of AllianceBernstein Holding from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $27.60 price target on the stock. Two equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. AllianceBernstein Holding currently has an average rating of “Hold” and an average price target of $26.90.
AllianceBernstein Holding (NYSE:AB) opened at 26.35 on Thursday. AllianceBernstein Holding has a 1-year low of $18.77 and a 1-year high of $26.75. The stock’s 50-day moving average is $25.20 and its 200-day moving average is $24.18. The company has a market cap of $2.536 billion and a price-to-earnings ratio of 15.49.
AllianceBernstein Holding (NYSE:AB) last announced its earnings results on Wednesday, April 30th. The company reported $0.39 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.41 by $0.02. The company had revenue of $715.00 million for the quarter, compared to the consensus estimate of $723.35 million. During the same quarter last year, the company posted $0.38 earnings per share. AllianceBernstein Holding’s revenue was up .7% compared to the same quarter last year. On average, analysts predict that AllianceBernstein Holding will post $1.75 earnings per share for the current fiscal year.
AllianceBernstein Holding L.P provides research, diversified investment management and related services globally to a range of clients through three buy-side distribution channels, Institutions, Retail and Private Client, and its sell-side business, Bernstein Research Services.
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