Short Interest in Altaba Inc (AABA) Increases By 19.2%

Altaba Inc (NASDAQ:AABA) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 28,308,876 shares, a growth of 19.2% from the January 12th total of 23,750,001 shares. Based on an average daily volume of 8,208,679 shares, the days-to-cover ratio is currently 3.4 days. Approximately 3.5% of the shares of the stock are sold short.

In other news, CFO Alexi Wellman sold 860 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $72.79, for a total transaction of $62,599.40. Following the transaction, the chief financial officer now directly owns 19,845 shares in the company, valued at approximately $1,444,517.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tor Braham sold 10,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $68.83, for a total value of $688,300.00. Following the sale, the director now owns 9,434 shares of the company’s stock, valued at $649,342.22. The disclosure for this sale can be found here. Insiders have sold a total of 1,224,860 shares of company stock worth $90,829,699 over the last quarter. Corporate insiders own 24.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its holdings in shares of Altaba by 14.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,735 shares of the company’s stock worth $610,000 after purchasing an additional 1,106 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Altaba in the 4th quarter worth $103,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Altaba by 57.2% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 5,617 shares of the company’s stock worth $392,000 after purchasing an additional 2,043 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Altaba in the 4th quarter worth $200,000. Finally, Palladium Partners LLC bought a new stake in shares of Altaba in the 4th quarter worth $203,000. 80.28% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on AABA. BidaskClub upgraded Altaba from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Vetr upgraded Altaba from a “sell” rating to a “hold” rating and set a $73.32 price objective for the company in a report on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $60.78.

Altaba (NASDAQ AABA) traded up $1.33 during mid-day trading on Friday, reaching $70.48. The company had a trading volume of 6,128,401 shares, compared to its average volume of 7,860,225. The company has a market cap of $59,740.00, a price-to-earnings ratio of 37.69 and a beta of 2.01. Altaba has a one year low of $44.64 and a one year high of $80.56.

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About Altaba

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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