Traders Buy Large Volume of Call Options on AllianceBernstein (NYSE:AB)

AllianceBernstein Holding L.P. (NYSE:AB) was the recipient of some unusual options trading on Monday. Investors acquired 12,405 call options on the stock. This is an increase of 4,444% compared to the typical volume of 273 call options.

Analyst Ratings Changes

A number of research analysts have commented on the company. Zacks Research downgraded AllianceBernstein from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Sanford C. Bernstein restated a “negative” rating on shares of AllianceBernstein in a research note on Thursday, January 15th. Bank of America lifted their price objective on shares of AllianceBernstein from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Barclays dropped their target price on shares of AllianceBernstein from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Finally, Evercore ISI raised their price target on shares of AllianceBernstein from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, AllianceBernstein has an average rating of “Hold” and a consensus price target of $41.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Trust Co. of Vermont bought a new stake in shares of AllianceBernstein during the third quarter valued at approximately $115,000. CWM LLC increased its position in AllianceBernstein by 4,164.8% in the 3rd quarter. CWM LLC now owns 3,028 shares of the asset manager’s stock valued at $116,000 after acquiring an additional 2,957 shares during the period. Bessemer Group Inc. acquired a new stake in AllianceBernstein in the 2nd quarter valued at approximately $163,000. Joel Adams & Associates Inc. bought a new stake in AllianceBernstein during the 2nd quarter valued at $204,000. Finally, Tyche Wealth Partners LLC acquired a new position in AllianceBernstein during the 2nd quarter worth $204,000. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Price Performance

Shares of AB opened at $41.98 on Tuesday. The company has a market cap of $3.82 billion, a P/E ratio of 13.81, a PEG ratio of 1.13 and a beta of 0.86. AllianceBernstein has a 12 month low of $32.28 and a 12 month high of $43.30. The stock has a fifty day moving average price of $39.84 and a 200 day moving average price of $39.72.

About AllianceBernstein

AllianceBernstein is a global investment management firm that offers a broad range of research-driven strategies across equities, fixed income, multi-asset solutions and alternative investments. The firm provides active and quantitative portfolio management, drawing on in-house research capabilities to serve the needs of institutional clients, private wealth investors and intermediaries. Its product lineup encompasses mutual funds, separately managed accounts and customized investment vehicles designed to meet diverse risk-return objectives.

The firm’s roots date back to 1967 with the founding of Sanford C.