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

AllianceBernstein Holding L.P. (NYSE:AB) saw a significant growth in short interest in the month of 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 trading volume of 364,500 shares, the short-interest ratio is presently 2.7 days.

AllianceBernstein Stock Down 3.3 %

Shares of NYSE:AB traded down $1.34 during midday trading on Monday, reaching $38.72. 599,420 shares of the company were exchanged, compared to its average volume of 495,944. The stock has a fifty day simple moving average of $37.12 and a two-hundred day simple moving average of $35.93. AllianceBernstein has a fifty-two week low of $30.57 and a fifty-two week high of $40.86. The firm 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.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays cut 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 report on Monday, December 9th. Evercore ISI upped their price objective on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, AllianceBernstein has an average rating of “Moderate Buy” and a consensus price target of $42.40.

Institutional Trading of AllianceBernstein

Institutional investors have recently bought and sold shares of the business. NBC Securities Inc. grew its holdings in shares of AllianceBernstein by 80.8% during the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager’s stock worth $25,000 after purchasing an additional 329 shares during the period. Captrust Financial Advisors boosted its holdings in AllianceBernstein by 4.9% during the 3rd quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock valued at $265,000 after acquiring an additional 355 shares during the period. Second Line Capital LLC raised its position in AllianceBernstein by 5.9% in the 3rd quarter. Second Line Capital LLC now owns 7,907 shares of the asset manager’s stock valued at $276,000 after purchasing an additional 443 shares in the last quarter. Creative Planning raised its position in AllianceBernstein by 3.2% in the 3rd quarter. Creative Planning now owns 15,005 shares of the asset manager’s stock valued at $524,000 after purchasing an additional 469 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its position in AllianceBernstein by 3.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 19,071 shares of the asset manager’s stock valued at $679,000 after purchasing an additional 549 shares in the last quarter. Institutional investors own 19.25% of the company’s stock.

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.