Alliancebernstein Holding LP (NYSE:AB) Shorts Decreased by 47.12% After Short Covering

The stock of Alliancebernstein Holding LP (NYSE:AB) registered a decrease of 47.12% in short interest. AB’s total short interest was 359,800 shares in March as published by FINRA. Its down 47.12% from 680,400 shares, reported previously. With 322,900 shares average volume, it will take short sellers 1 days to cover their AB’s short positions. The short interest to Alliancebernstein Holding LP’s float is 0.39%. The stock increased 0.09% or $0.02 on March 24, hitting $22.27. About 212,130 shares traded hands. AllianceBernstein Holding LP (NYSE:AB) has declined 20.58% since August 19, 2015 and is downtrending. It has underperformed by 18.48% the S&P500.

AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients. The company has a market cap of $2.23 billion. The Company’s principal services include institutional services, retail services, private wealth management services and Bernstein research services. It has 11.8 P/E ratio. AB Holding owns 36.9% of limited partnership interest in AllianceBernstein L.P. (AB).

The institutional sentiment decreased to 0.51 in 2015 Q3. Its down 0.39, from 0.9 in 2015Q2. The ratio turned negative, as 25 funds sold all AllianceBernstein Holding LP shares owned while 55 reduced positions. 12 funds bought stakes while 29 increased positions. They now own 27.80 million shares or 4.76% less from 29.19 million shares in 2015Q2.

Meiji Yasuda Life Insurance Co holds 7.06% of its portfolio in AllianceBernstein Holding LP for 1.59 million shares. Ranger International Management Lp owns 618,957 shares or 5.43% of their US portfolio. Moreover, Greenwich Investment Management Inc. has 3.97% invested in the company for 140,400 shares. The California-based Mountain Lake Investment Management Llc has invested 1.55% in the stock. New England Research & Management Inc., a Illinois-based fund reported 51,320 shares.

Out of 7 analysts covering AllianceBernstein Holding (NYSE:AB), 3 rate it “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. $27 is the highest target while $18 is the lowest. The $21.86 average target is 20.12% above today’s ($22.27) stock price. AllianceBernstein Holding was the topic in 11 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Bank of America upgraded the stock on March 15 to “Buy” rating.

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