Is Buying Alliancebernstein Holding LP (NYSE:AB), Having Higher Short Interest a Winning Strategy?

June 20, 2017 - By Marry Poplack

 Is Buying Alliancebernstein Holding LP (NYSE:AB), Having Higher Short Interest a Winning Strategy?

Investors sentiment decreased to 0.92 in Q4 2016. Its down 0.16, from 1.08 in 2016Q3. It worsened, as 26 investors sold AllianceBernstein Holding LP shares while 35 reduced holdings. 21 funds opened positions while 35 raised stakes. 23.56 million shares or 1.49% more from 23.21 million shares in 2016Q3 were reported.
American Natl Ins Communications Tx stated it has 9,800 shares or 0.01% of all its holdings. Planning has 9,945 shares for 0.02% of their portfolio. M&T Natl Bank Corp has invested 0% of its portfolio in AllianceBernstein Holding LP (NYSE:AB). Aviance Capital Ltd Co has 28,193 shares. Georgia-based Synovus Fin has invested 0% in AllianceBernstein Holding LP (NYSE:AB). Sadoff Investment Mngmt Lc has invested 0.57% in AllianceBernstein Holding LP (NYSE:AB). The California-based Whittier Trust has invested 0% in AllianceBernstein Holding LP (NYSE:AB). 32,650 are held by Pinnacle Associates. Chem Financial Bank holds 0.04% in AllianceBernstein Holding LP (NYSE:AB) or 15,500 shares. Schroder Inv Mngmt Grp reported 0% stake. Department Mb Bankshares N A holds 25,000 shares. Raymond James Associate holds 0% of its portfolio in AllianceBernstein Holding LP (NYSE:AB) for 48,616 shares. Citigroup holds 157,627 shares or 0% of its portfolio. 14,046 are held by Roberts Glore & Il. Greenwich Inv Mngmt holds 62,104 shares.

The stock of Alliancebernstein Holding LP (NYSE:AB) registered an increase of 15.9% in short interest. AB’s total short interest was 529,200 shares in June as published by FINRA. Its up 15.9% from 456,600 shares, reported previously. With 774,500 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 0.6%.

The stock decreased 0.21% or $0.05 during the last trading session, reaching $23.25. About shares traded. AllianceBernstein Holding LP (NYSE:AB) has declined 7.46% since June 20, 2016 and is downtrending. It has underperformed by 24.16% the S&P500.

AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The company has market cap of $2.26 billion. The Firm offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds. It has a 10.81 P/E ratio.

AllianceBernstein Holding LP (NYSE:AB) Ratings Coverage

Among 4 analysts covering AllianceBernstein Holding (NYSE:AB), 1 have Buy rating, 0 Sell and 3 Hold. Therefore 25% are positive. AllianceBernstein Holding has $33 highest and $2 lowest target. $24.07’s average target is 3.53% above currents $23.25 stock price. AllianceBernstein Holding had 19 analyst reports since August 3, 2015 according to SRatingsIntel. The stock has “Hold” rating by Jefferies on Wednesday, October 7. Keefe Bruyette & Woods maintained the stock with “Market Perform” rating in Friday, February 12 report. The stock of AllianceBernstein Holding LP (NYSE:AB) has “Buy” rating given on Tuesday, March 15 by Bank of America. The firm has “Hold” rating by Jefferies given on Monday, July 11. The stock has “Market Perform” rating by Wood on Friday, October 14. As per Wednesday, October 7, the company rating was downgraded by Bank of America. Citigroup maintained the shares of AB in report on Thursday, September 10 with “Buy” rating. The stock has “Buy” rating by Citigroup on Friday, July 29. On Tuesday, November 22 the stock rating was downgraded by Citigroup to “Neutral”. The company was maintained on Friday, October 14 by Keefe Bruyette & Woods.

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