River & Mercantile Asset Management LLP Purchases New Stake in Yahoo! Inc. (YHOO)
River & Mercantile Asset Management LLP bought a new stake in Yahoo! Inc. (NASDAQ:YHOO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 63,500 shares of the digital content provider’s stock, valued at approximately $2,456,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox acquired a new position in shares of Yahoo! during the fourth quarter valued at about $213,000. Norges Bank purchased a new stake in Yahoo! during the fourth quarter worth $259,119,000. Assenagon Asset Management S.A. purchased a new stake in Yahoo! during the fourth quarter worth $27,374,000. Numeric Investors LLC purchased a new stake in Yahoo! during the fourth quarter worth $464,000. Finally, IFM Investors Pty Ltd purchased a new stake in Yahoo! during the fourth quarter worth $441,000. Institutional investors own 78.06% of the company’s stock.
Shares of Yahoo! Inc. (NASDAQ:YHOO) traded up 1.43% during mid-day trading on Thursday, reaching $47.67. 10,925,101 shares of the company traded hands. The stock’s market capitalization is $45.60 billion. Yahoo! Inc. has a 52-week low of $35.05 and a 52-week high of $47.88. The company’s 50 day moving average is $46.49 and its 200 day moving average is $43.19. Yahoo! also saw some unusual options trading on Monday. Traders acquired 328 put options on the company. This is an increase of approximately 486% compared to the typical daily volume of 56 put options.
Yahoo! (NASDAQ:YHOO) last posted its quarterly earnings results on Tuesday, April 18th. The digital content provider reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. The company had revenue of $833.80 million for the quarter, compared to the consensus estimate of $814.32 million. Yahoo! had a positive return on equity of 0.65% and a negative net margin of 4.15%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 EPS. On average, equities analysts forecast that Yahoo! Inc. will post $0.69 earnings per share for the current year.
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A number of research firms have recently weighed in on YHOO. Cantor Fitzgerald set a $53.00 price target on shares of Yahoo! and gave the company a “buy” rating in a report on Tuesday. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $57.00 price target on shares of Yahoo! in a report on Wednesday. B. Riley restated a “neutral” rating and issued a $48.00 price target on shares of Yahoo! in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Yahoo! in a report on Tuesday. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Yahoo! in a research report on Monday. Twenty-one research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $45.52.
In other news, CRO Lisa Utzschneider sold 683 shares of the stock in a transaction on Friday, March 31st. The stock was sold at an average price of $46.52, for a total value of $31,773.16. Following the transaction, the executive now owns 573,851 shares of the company’s stock, valued at approximately $26,695,548.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 2,577 shares of company stock worth $114,928. 9.20% of the stock is currently owned by company insiders.
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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