AllianceBernstein Holding L.P. (NYSE:AB) Short Interest Up 12.3% in January

AllianceBernstein Holding L.P. (NYSE:AB) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 997,200 shares, a growth of 12.3% from the December 31st total of 887,900 shares. Based on an average daily trading volume, of 364,500 shares, the days-to-cover ratio is presently 2.7 days.

AllianceBernstein Price Performance

AB stock traded down $1.34 during trading on Monday, hitting $38.72. 599,420 shares of the company traded hands, compared to its average volume of 495,944. The stock’s 50-day simple moving average is $37.12 and its 200 day simple moving average is $35.93. The company has a market cap of $4.46 billion, a PE ratio of 11.09, a P/E/G ratio of 0.81 and a beta of 1.20. AllianceBernstein has a 1 year low of $30.57 and a 1 year high of $40.86.

Analyst Upgrades and Downgrades

AB has been the topic of a number of recent research reports. Evercore ISI raised their price objective on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays decreased their price target on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. grew its holdings in AllianceBernstein by 80.8% in the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 329 shares during the period. Truvestments Capital LLC acquired a new stake in AllianceBernstein in the third quarter valued at approximately $31,000. FSA Wealth Management LLC acquired a new stake in AllianceBernstein in the third quarter valued at approximately $36,000. Luken Investment Analytics LLC acquired a new stake in AllianceBernstein in the fourth quarter valued at approximately $37,000. Finally, Farther Finance Advisors LLC grew its holdings in AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 764 shares during the period. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.