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

AllianceBernstein Holding L.P. (NYSE:AB) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 997,200 shares, an increase 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.

Analysts Set New Price Targets

A number of research analysts recently commented on AB shares. Barclays decreased their price target on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Evercore ISI upped their target price on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.40.

Institutional Trading of AllianceBernstein

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its holdings in shares of AllianceBernstein by 12.2% in the 3rd quarter. Jennison Associates LLC now owns 878,323 shares of the asset manager’s stock valued at $30,645,000 after acquiring an additional 95,847 shares during the period. Citigroup Inc. increased its stake in shares of AllianceBernstein by 59.1% in the 3rd quarter. Citigroup Inc. now owns 645,685 shares of the asset manager’s stock valued at $22,528,000 after purchasing an additional 239,941 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of AllianceBernstein by 12.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager’s stock valued at $85,633,000 after purchasing an additional 265,844 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in AllianceBernstein during the 3rd quarter worth approximately $671,000. Finally, International Assets Investment Management LLC acquired a new position in shares of AllianceBernstein during the 3rd quarter worth approximately $31,650,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Stock Performance

Shares of NYSE AB traded down $1.34 during mid-day trading on Monday, hitting $38.72. 599,420 shares of the stock traded hands, compared to its average volume of 495,944. The stock has a fifty day moving average price of $37.12 and a 200-day moving average price of $35.93. AllianceBernstein has a 52 week low of $30.57 and a 52 week high of $40.86. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.81 and a beta of 1.20.

About AllianceBernstein

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.