AllianceBernstein Holding L.P. (NYSE:AB) Sees Significant Decrease in Short Interest

AllianceBernstein Holding L.P. (NYSE:AB) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totaling 96,445 shares, a decline of 29.6% from the December 31st total of 137,029 shares. Based on an average daily trading volume, of 217,536 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 217,536 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

Several analysts have recently weighed in on AB shares. Sanford C. Bernstein restated a “negative” rating on shares of AllianceBernstein in a research note on Thursday, January 15th. Evercore ISI increased their price target on AllianceBernstein from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, December 5th. Barclays dropped their price objective on AllianceBernstein from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of AllianceBernstein in a research note on Wednesday, October 8th. Finally, TD Cowen reissued a “hold” rating on shares of AllianceBernstein in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.83.

AllianceBernstein Trading Up 2.8%

Shares of NYSE AB opened at $42.46 on Friday. The business has a 50 day simple moving average of $40.09 and a 200-day simple moving average of $39.77. AllianceBernstein has a twelve month low of $32.28 and a twelve month high of $44.11. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.

Institutional Investors Weigh In On AllianceBernstein

Institutional investors have recently modified their holdings of the business. Pekin Hardy Strauss Inc. boosted its stake in AllianceBernstein by 8.8% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 6,204 shares of the asset manager’s stock valued at $239,000 after acquiring an additional 500 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of AllianceBernstein by 10.7% in the 4th quarter. D.A. Davidson & CO. now owns 165,739 shares of the asset manager’s stock worth $6,378,000 after purchasing an additional 15,974 shares during the last quarter. HB Wealth Management LLC bought a new stake in shares of AllianceBernstein in the 4th quarter worth approximately $595,000. Fortis Capital Advisors LLC boosted its position in AllianceBernstein by 3.6% during the 4th quarter. Fortis Capital Advisors LLC now owns 7,836 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 272 shares during the period. Finally, PFG Investments LLC grew its stake in AllianceBernstein by 62.7% during the 4th quarter. PFG Investments LLC now owns 17,533 shares of the asset manager’s stock worth $675,000 after buying an additional 6,757 shares during the last quarter. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Company Profile

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.