Short Interest in AllianceBernstein Holding L.P. (NYSE:AB) Grows By 12.3%

AllianceBernstein Holding L.P. (NYSE:AB) was the target of a significant 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 short-interest ratio is presently 2.7 days.

AllianceBernstein Stock Performance

Shares of AllianceBernstein stock traded down $1.34 during midday trading on Monday, hitting $38.72. 599,420 shares of the company traded hands, compared to its average volume of 495,944. The stock 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. The firm’s fifty day moving average price is $37.12 and its 200-day moving average price is $35.93. AllianceBernstein has a 12 month low of $30.57 and a 12 month high of $40.86.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AB. Evercore ISI increased their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays dropped their price objective on shares of 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.40.

Institutional Investors Weigh In On AllianceBernstein

A number of institutional investors have recently modified their holdings of AB. NBC Securities Inc. lifted its position in shares of AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 329 shares during the period. Truvestments Capital LLC acquired a new position in shares of AllianceBernstein during the 3rd quarter valued at $31,000. FSA Wealth Management LLC acquired a new position in shares of AllianceBernstein during the 3rd quarter valued at $36,000. Luken Investment Analytics LLC acquired a new position in shares of AllianceBernstein during the 4th quarter valued at $37,000. Finally, Farther Finance Advisors LLC raised its holdings in AllianceBernstein by 115.4% during the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock worth $50,000 after buying an additional 764 shares during the last quarter. 19.25% of the stock is owned by institutional investors.

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.