Coronation Fund Managers Ltd. increased its position in Yahoo! Inc. (NASDAQ:YHOO) by 12.1% during the third quarter, Holdings Channel reports. The fund owned 1,116,786 shares of the digital content provider’s stock after buying an additional 120,592 shares during the period. Yahoo! comprises about 1.8% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 19th largest position. Coronation Fund Managers Ltd.’s holdings in Yahoo! were worth $48,134,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Canyon Capital Advisors LLC boosted its stake in Yahoo! by 66.9% in the second quarter. Canyon Capital Advisors LLC now owns 18,572,403 shares of the digital content provider’s stock worth $697,579,000 after buying an additional 7,445,247 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Yahoo! by 251.9% in the third quarter. BNP Paribas Arbitrage SA now owns 2,983,410 shares of the digital content provider’s stock worth $128,585,000 after buying an additional 2,135,530 shares during the last quarter. Cibc World Markets Corp boosted its stake in Yahoo! by 3,359.3% in the second quarter. Cibc World Markets Corp now owns 1,963,888 shares of the digital content provider’s stock worth $73,764,000 after buying an additional 1,907,116 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Yahoo! during the second quarter worth $55,000,000. Finally, First Pacific Advisors LLC boosted its stake in Yahoo! by 18.5% in the second quarter. First Pacific Advisors LLC now owns 4,607,570 shares of the digital content provider’s stock worth $173,060,000 after buying an additional 718,130 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Yahoo! Inc. (NASDAQ:YHOO) traded up 1.788% on Wednesday, reaching $44.685. 2,665,666 shares of the company were exchanged. The company’s market capitalization is $42.64 billion. Yahoo! Inc. has a 52 week low of $26.15 and a 52 week high of $44.92. The company’s 50-day moving average is $40.60 and its 200-day moving average is $41.21.
Yahoo! (NASDAQ:YHOO) last released its quarterly earnings results on Monday, January 23rd. The digital content provider reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04. The company had revenue of $960.10 million for the quarter, compared to the consensus estimate of $1.38 billion. Yahoo! had a negative net margin of 4.15% and a positive return on equity of 0.65%. Yahoo!’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. On average, equities analysts expect that Yahoo! Inc. will post $0.64 EPS for the current fiscal year.
YHOO has been the topic of a number of research reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $44.00 target price on shares of Yahoo! in a research note on Saturday, October 22nd. Zacks Investment Research raised shares of Yahoo! from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday, October 21st. Vetr raised shares of Yahoo! from a “buy” rating to a “strong-buy” rating and set a $45.84 target price on the stock in a research note on Monday, November 28th. MKM Partners boosted their target price on shares of Yahoo! from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, October 17th. Finally, Credit Suisse Group set a $52.00 target price on shares of Yahoo! and gave the stock a “neutral” rating in a research note on Monday, October 17th. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $42.86.
In other news, CRO Lisa Utzschneider sold 683 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $41.13, for a total value of $28,091.79. Following the sale, the executive now owns 597,297 shares of the company’s stock, valued at $24,566,825.61. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 3,579 shares of company stock worth $144,510. Insiders own 9.20% of the company’s stock.
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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