Scoggin Management Lp buys $89,467,200 stake in Yahoo! (YHOO)

Yahoo! (YHOO) : Scoggin Management Lp scooped up 245,020 additional shares in Yahoo! during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 2,280,000 shares of Yahoo! which is valued at $89,467,200.Yahoo! makes up approximately 27.96% of Scoggin Management Lp’s portfolio.

Other Hedge Funds, Including , Howard Hughes Medical Institute boosted its stake in YHOO in the latest quarter, The investment management firm added 13,734 additional shares and now holds a total of 27,028 shares of Yahoo! which is valued at $1,037,605. Yahoo! makes up approx 0.33% of Howard Hughes Medical Institute’s portfolio.

Yahoo! opened for trading at $42.39 and hit $42.75 on the upside on Wednesday, eventually ending the session at $42.7, with a gain of 0.49% or 0.21 points. The heightened volatility saw the trading volume jump to 85,71,927 shares. Company has a market cap of $40,641 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!. 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 .Company shares were Reiterated by UBS on Jul 19, 2016 to “Buy”, Firm has raised the Price Target to $ 43 from a previous price target of $42 .

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. 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.

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