Eminence Capital Lp Lowers stake in Yahoo! (YHOO)

Yahoo! (YHOO) : Eminence Capital Lp reduced its stake in Yahoo! by 2.87% during the most recent quarter end. The investment management company now holds a total of 7,098,017 shares of Yahoo! which is valued at $304,788,850 after selling 210,000 shares in Yahoo! , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Yahoo! makes up approximately 5.05% of Eminence Capital Lp’s portfolio.

Other Hedge Funds, Including , First Allied Advisory Services reduced its stake in YHOO by selling 115 shares or 1.16% in the most recent quarter. The Hedge Fund company now holds 9,815 shares of YHOO which is valued at $421,456. Yahoo! makes up approx 0.02% of First Allied Advisory Services’s portfolio. Harvest Management added YHOO to its portfolio by purchasing 36,500 company shares during the most recent quarter which is valued at $1,567,310. Yahoo! makes up approx 1.56% of Harvest Management’s portfolio.Blackrock Advisors reduced its stake in YHOO by selling 2,000 shares or 0.15% in the most recent quarter. The Hedge Fund company now holds 1,300,160 shares of YHOO which is valued at $55,828,870. Yahoo! makes up approx 0.06% of Blackrock Advisors’s portfolio.Janney Montgomery Scott boosted its stake in YHOO in the latest quarter, The investment management firm added 21,628 additional shares and now holds a total of 45,577 shares of Yahoo! which is valued at $1,777,047. Yahoo! makes up approx 0.03% of Janney Montgomery Scott’s portfolio.Mizuho Securities Usa reduced its stake in YHOO by selling 89,700 shares or 59.8% in the most recent quarter. The Hedge Fund company now holds 60,300 shares of YHOO which is valued at $2,374,614. Yahoo! makes up approx 0.43% of Mizuho Securities Usa’s portfolio.

Yahoo! opened for trading at $42.78 and hit $43.095 on the upside on Thursday, eventually ending the session at $42.93, with a gain of 0.42% or 0.18 points. The heightened volatility saw the trading volume jump to 55,75,305 shares. Company has a market cap of $40,860 M.

On the company’s financial health, Yahoo! reported $0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 18, 2016. Analyst had a consensus of $0.10. The company had revenue of $842.00 million for the quarter, compared to analysts expectations of $836.80 million. The company’s revenue was down -19.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on Yahoo!. Company shares were Reiterated by BofA/Merrill on Aug 23, 2016 to “Buy”, Firm has raised the Price Target to $ 53 from a previous price target of $50 .Yahoo! was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 26, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 19, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 39 from a previous price target of $38 .

Yahoo! Inc. is a technology company. The Company is engaged in providing Internet search communication and digital content. The Company manages its business geographically: the Americas; Europe the Middle East and Africa (EMEA) and Asia Pacific. The Company’s products include Search Communications Digital content Flickr and Tumblr. Yahoo Search is a search engine serves as a starting point to navigate the Internet and discover information which is ranked and organized -based on their relevance to the query. Yahoo Mail connects users across mobile phones tablets and PC. Yahoo.com offers news and information including Yahoo original content and partner content. Flickr is a Web and mobile photo management and sharing service. Tumblr offers a Web platform and mobile applications (particularly on the iOS and Android platforms) that allow users to create share and curate content. Yahoo is also a digital publisher and advertising technology provider.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *