Water Island Capital LLC Sells 1,101,901 Shares of Yahoo! Inc. (YHOO)

Water Island Capital LLC cut its position in shares of Yahoo! Inc. (NASDAQ:YHOO) by 79.5% during the third quarter, Holdings Channel reports. The institutional investor owned 284,060 shares of the digital content provider’s stock after selling 1,101,901 shares during the period. Water Island Capital LLC’s holdings in Yahoo! were worth $12,243,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ingalls & Snyder LLC bought a new stake in shares of Yahoo! during the third quarter worth $205,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Yahoo! during the third quarter worth $210,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of Yahoo! by 1.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 5,724 shares of the digital content provider’s stock worth $247,000 after buying an additional 74 shares in the last quarter. Ardsley Advisory Partners bought a new stake in shares of Yahoo! during the third quarter worth $259,000. Finally, Parkwood LLC bought a new stake in shares of Yahoo! during the third quarter worth $280,000. 78.06% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Yahoo! (NASDAQ:YHOO)

Yahoo! Inc. (NASDAQ:YHOO) opened at 45.03 on Monday. The stock’s market cap is $43.17 billion. The stock has a 50 day moving average of $42.34 and a 200 day moving average of $41.74. Yahoo! Inc. has a 1-year low of $26.72 and a 1-year high of $45.24.

Yahoo! (NASDAQ:YHOO) last announced its earnings results on Monday, January 23rd. The digital content provider reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The business earned $960.10 million during the quarter, compared to the consensus estimate of $1.38 billion. Yahoo! had a positive return on equity of 0.65% and a negative net margin of 4.15%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 EPS. Equities analysts anticipate that Yahoo! Inc. will post $0.68 EPS for the current fiscal year.

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A number of analysts have commented on the stock. B. Riley reaffirmed a “neutral” rating and set a $44.00 target price on shares of Yahoo! in a report on Tuesday, January 24th. Bank of America Corporation reaffirmed a “buy” rating and set a $55.00 target price on shares of Yahoo! in a report on Friday, November 11th. Vetr lowered shares of Yahoo! from a “strong-buy” rating to a “buy” rating and set a $44.63 target price for the company. in a report on Tuesday, December 6th. Evercore ISI reaffirmed a “hold” rating and set a $39.00 target price on shares of Yahoo! in a report on Wednesday, December 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $51.00 target price (up previously from $50.00) on shares of Yahoo! in a report on Tuesday, January 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eleven have assigned a buy rating to the company. Yahoo! has a consensus rating of “Hold” and an average price target of $43.85.

In related news, CRO Lisa Utzschneider sold 732 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $39.08, for a total value of $28,606.56. Following the completion of the transaction, the executive now directly owns 587,331 shares of the company’s stock, valued at approximately $22,952,895.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 3,477 shares of company stock valued at $140,926. 9.20% of the stock is owned by corporate insiders.

About Yahoo!

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.

5 Day Chart for NASDAQ:YHOO

Want to see what other hedge funds are holding YHOO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Yahoo! Inc. (NASDAQ:YHOO).

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