Convector Capital Management Lp buys $4.9 Million stake in Yahoo! (YHOO)

Yahoo! (YHOO) : Convector Capital Management Lp scooped up 70,000 additional shares in Yahoo! during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 133,700 shares of Yahoo! which is valued at $4.9 Million.Yahoo! makes up approximately 5.38% of Convector Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Keybank National Associationoh reduced its stake in YHOO by selling 189 shares or 1.04% in the most recent quarter. The Hedge Fund company now holds 17,958 shares of YHOO which is valued at $655,108. Anchor Capital Advisors sold out all of its stake in YHOO during the most recent quarter. The investment firm sold 21,470 shares of YHOO which is valued $783,226.Ft Options reduced its stake in YHOO by selling 28,500 shares or 84.47% in the most recent quarter. The Hedge Fund company now holds 5,241 shares of YHOO which is valued at $191,192. Yahoo! makes up approx 0.32% of Ft Options’s portfolio.Ifc Holdings Incorporatedfl reduced its stake in YHOO by selling 2,419 shares or 19.34% in the most recent quarter. The Hedge Fund company now holds 10,090 shares of YHOO which is valued at $375,651. Yahoo! makes up approx 0.05% of Ifc Holdings Incorporatedfl’s portfolio.

Yahoo! opened for trading at $37.03 and hit $37.79 on the upside on Monday, eventually ending the session at $37.48, with a gain of 2.74% or 1 points. The heightened volatility saw the trading volume jump to 1,69,95,080 shares. Company has a market cap of $35,571 M.

On the company’s financial health, Yahoo! reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $0.07. The company had revenue of $859.00 million for the quarter, compared to analysts expectations of $845.90 million. The company’s revenue was down -17.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on Yahoo!. Company shares were Reiterated by Axiom Capital on Apr 20, 2016 to “Hold”, Firm has raised the Price Target to $ 37 from a previous price target of $36 .Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 38 from a previous price target of $33 .Company shares were Reiterated by Piper Jaffray on Apr 20, 2016 to “Overweight”, Firm has raised the Price Target to $ 40 from a previous price target of $31 .

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.

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