While the Yahoo! Inc. (NASDAQ:YHOO) situation seems to get more and more confusing by the day, yet another activist, this time SpringOwl Asset Management’s Eric Jackson seems to have his own plan for restructuring the company. The plan which includes ousting the company’s CEO Marissa Mayer, mostly because of her lavish spending of ‘$7 million’ on a party, was recently pitched to two of Yahoo’s (NASDAQ:YHOO) co-founders, Jerry Yang and David Filo.
While Filo and Yang do not have controlling interest, they do have an 11% stake, meaning their influence is quite strong. Jackson hopes that he can appeal to them over rival activist hedge fund Starboard Capital, who is hoping to pursuade the board to break the company up.
The stock closed at $32.95 during the last trading session. It is down 25.72% since May 18, 2015 and is downtrending. It has underperformed the S&P500 by 23.46%.
From a total of 25 analysts covering Yahoo! Inc. (NASDAQ:YHOO) stock, 16 rate it a “Buy”, 0 a “Sell”, and 9 a “Hold”. This means that 64% of the ratings are positive. The highest target price is $62 while the lowest target price is $32. The mean of all analyst targets is $42.71 which is 29.62% above today’s ($32.95) stock price. Yahoo! Inc. was the topic of 59 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. SunTrust maintained shares on December 10 with a “Buy” rating. Cowen & Co maintained shares with a”Market Perform” rating and a $35 target share price in their report from an October 21. FBR Capital maintained YHOO stock in a recent report from December 9 with a “Outperform” rating. RBC Capital Markets maintained the rating on October 21. RBC Capital Markets has a “Sector Perform” rating and a $42 price target on shares. Finally, Oppenheimer maintained the stock with a “Outperform” rating in a report they issued on an October 21.
The institutional sentiment decreased to 0.8 in Q2 2015. It’s down 0.23, from 1.03 in 2015Q2. The ratio is negative, as 113 funds sold all their Yahoo! Inc. shares they owned while 235 reduced their positions. 60 funds bought stakes while 220 increased their total positions. Institutions now own 619.16 million shares which is 2.60% less than the previous share count of 635.68 million in 2015Q2.
Stonehill Capital Management Llc holds 60.89% of its total portfolio in Yahoo! Inc., equating to 5.71 million shares. Zenit Asset Management Ab owns 4.42 million shares representing 22.25% of their total US portfolio. Moreover, Indaba Capital Management L.P. has 21.81% of their total portfolio invested in the company, equating to 2.31 million shares. The United Kingdom-based Davide Leone & Partners Investment Co Llp has a total of 17.99% of their portfolio invested in the stock. Owl Creek Asset Management L.P., a New York-based fund reported 9.97 million shares owned.
Yahoo! Inc. is a technology company