Traders Buy Yahoo Inc. (YHOO) on Weakness Following Insider Selling
Traders purchased shares of Yahoo Inc. (NASDAQ:YHOO) on weakness during trading hours on Friday following insider selling activity. $56.92 million flowed into the stock on the tick-up and $7.76 million flowed out of the stock on the tick-down, for a money net flow of $49.16 million into the stock. Of all stocks tracked, Yahoo had the 2nd highest net in-flow for the day. Yahoo traded down ($0.09) for the day and closed at $40.87Specifically, CRO Lisa Utzschneider sold 683 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $42.28, for a total value of $28,877.24. Following the completion of the sale, the executive now owns 609,672 shares of the company’s stock, valued at $25,776,932.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.20% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on YHOO. B. Riley reaffirmed a “neutral” rating and set a $38.00 price target on shares of Yahoo in a research note on Saturday, July 30th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $49.00 price target on shares of Yahoo in a research note on Tuesday, August 9th. SunTrust Banks Inc. reaffirmed a “neutral” rating and set a $42.00 price target on shares of Yahoo in a research note on Thursday, September 22nd. Mizuho lifted their price target on shares of Yahoo from $38.00 to $42.00 and gave the company a “neutral” rating in a research note on Wednesday, October 19th. Finally, Zacks Investment Research raised shares of Yahoo from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday, October 21st. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Yahoo currently has an average rating of “Hold” and a consensus price target of $42.91.
The stock’s 50 day moving average is $41.63 and its 200 day moving average is $40.11. The firm’s market capitalization is $39.00 billion.
Yahoo (NASDAQ:YHOO) last released its earnings results on Tuesday, October 18th. The digital content provider reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. Yahoo had a negative net margin of 96.74% and a positive return on equity of 0.16%. The company earned $857 million during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $0.15 EPS. The business’s revenue was down 14.6% on a year-over-year basis. Equities analysts expect that Yahoo Inc. will post $0.58 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP boosted its stake in Yahoo by 52.7% in the second quarter. River & Mercantile Asset Management LLP now owns 83,708 shares of the digital content provider’s stock valued at $3,144,000 after buying an additional 28,899 shares during the period. Atria Investments LLC purchased a new stake in Yahoo during the second quarter valued at approximately $399,000. Chevy Chase Trust Holdings Inc. boosted its stake in Yahoo by 1.6% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 746,555 shares of the digital content provider’s stock valued at $28,041,000 after buying an additional 11,567 shares during the period. Exxonmobil Investment Management Inc. TX boosted its stake in Yahoo by 6.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 226,216 shares of the digital content provider’s stock valued at $8,497,000 after buying an additional 14,132 shares during the period. Finally, British Columbia Investment Management Corp boosted its stake in Yahoo by 1.4% in the second quarter. British Columbia Investment Management Corp now owns 549,890 shares of the digital content provider’s stock valued at $20,654,000 after buying an additional 7,773 shares during the period. Institutional investors own 73.62% of the company’s stock.
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Yahoo Company Profile
Yahoo! Inc (Yahoo), along with its subsidiaries, is engaged in digital information discovery. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific. The Company focuses on informing, connecting and entertaining its users with its search (Yahoo search), communications, including Yahoo Mail and Yahoo Messenger, and digital content products, including Tumblr, and its four verticals, such as Yahoo News, Yahoo Sports, Yahoo Finance and Yahoo Lifestyle.
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