The stock of Alliancebernstein Holding LP (NYSE:AB) registered a decrease of 3.28% in short interest. AB’s total short interest was 277,400 shares in September as published by FINRA. Its down 3.28% from 286,800 shares, reported previously. With 187,500 shares average volume, it will take short sellers 2 days to cover their AB’s short positions. The short interest to Alliancebernstein Holding LP’s float is 0.31%. About 45,745 shares traded hands. AllianceBernstein Holding LP (NYSE:AB) has risen 31.49% since February 8, 2016 and is uptrending. It has outperformed by 15.00% the S&P500.
AllianceBernstein Holding L.P. provides research, investment management and related services to a range of clients through three buy-side distribution channels, institutions, retail and private wealth management, and its sell-side business, Bernstein Research Services. The company has a market cap of $2.13 billion. The Company’s principal services include institutional services, retail services, private wealth management services and Bernstein research services. It has a 11.42 P/E ratio. It offers institutional services to institutional clients, including private and public pension plans, foundations and endowments, insurance companies, central banks and governments around the world.
The institutional sentiment decreased to 0.53 in 2016 Q2. Its down 0.06, from 0.59 in 2016Q1. The ratio fall, as 20 funds sold all AllianceBernstein Holding LP shares owned while 50 reduced positions. 5 funds bought stakes while 32 increased positions. They now own 23.38 million shares or 9.11% less from 25.73 million shares in 2016Q1.
Meiji Yasuda Life Insurance Co holds 5.9% of its portfolio in AllianceBernstein Holding LP for 1.59 million shares. Ranger International Management Lp owns 333,197 shares or 3.29% of their US portfolio. Moreover, Greenwich Investment Management Inc. has 2.18% invested in the company for 87,670 shares. The New Jersey-based Groesbeck Investment Management Corp Nj has invested 2.13% in the stock. New England Research & Management Inc., a Illinois-based fund reported 56,238 shares.
Out of 4 analysts covering AllianceBernstein Holding (NYSE:AB), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $28 is the highest target while $20 is the lowest. The $23 average target is 4.64% above today’s ($21.98) stock price. AllianceBernstein Holding has been the topic of 7 analyst reports since October 7, 2015 according to StockzIntelligence Inc. Citigroup maintained the stock on July 29 with “Buy” rating. Bank of America upgraded the shares of AB in a report on March 15 to “Buy” rating.
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