Strs Ohio decreased its stake in shares of Yahoo Inc. (NASDAQ:YHOO) by 12.7% during the second quarter, Holdings Channel reports. The fund owned 598,673 shares of the digital content provider’s stock after selling 86,930 shares during the period. Strs Ohio’s holdings in Yahoo were worth $22,486,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. TCI Fund Management Ltd. acquired a new position in shares of Yahoo during the first quarter worth about $530,211,000. Natixis boosted its position in shares of Yahoo by 33.7% in the first quarter. Natixis now owns 14,099,072 shares of the digital content provider’s stock worth $518,987,000 after buying an additional 3,552,539 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new position in shares of Yahoo during the first quarter worth about $123,399,000. State Street Corp boosted its position in shares of Yahoo by 9.9% in the first quarter. State Street Corp now owns 36,235,550 shares of the digital content provider’s stock worth $1,333,822,000 after buying an additional 3,253,009 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Yahoo by 202.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,894,842 shares of the digital content provider’s stock worth $106,559,000 after buying an additional 1,938,550 shares in the last quarter. Hedge funds and other institutional investors own 73.65% of the company’s stock.
Yahoo Inc. (NASDAQ:YHOO) traded up 2.55% during trading on Tuesday, hitting $43.37. The company’s stock had a trading volume of 8,765,715 shares. Yahoo Inc. has a 12 month low of $26.15 and a 12 month high of $44.92. The firm has a 50 day moving average of $42.83 and a 200 day moving average of $38.50. The firm’s market cap is $41.28 billion.
Yahoo (NASDAQ:YHOO) last released its quarterly earnings results on Monday, July 18th. The digital content provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.01. Yahoo had a negative net margin of 100.08% and a positive return on equity of 0.32%. The business earned $842 million during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business earned $0.16 EPS. The business’s revenue was down 19.3% on a year-over-year basis. Equities research analysts predict that Yahoo Inc. will post $0.49 earnings per share for the current year.
Several equities research analysts have recently weighed in on YHOO shares. Bank of America Corp. reaffirmed a “buy” rating and issued a $48.00 target price on shares of Yahoo in a report on Sunday, July 17th. Vetr lowered shares of Yahoo from a “hold” rating to a “sell” rating and set a $41.12 target price on the stock. in a report on Wednesday, August 24th. SunTrust Banks Inc. lowered shares of Yahoo from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $44.00 to $42.00 in a report on Monday, July 11th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Yahoo in a report on Monday, August 1st. Finally, Royal Bank Of Canada upped their target price on shares of Yahoo from $38.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 19th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $40.61.
In related news, CRO Lisa Utzschneider sold 732 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $39.01, for a total transaction of $28,555.32. Following the transaction, the executive now directly owns 618,268 shares of the company’s stock, valued at approximately $24,118,634.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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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