Merrion Investment Management Co LLC Trims Holdings in AllianceBernstein Holding L.P. (NYSE:AB)

Merrion Investment Management Co LLC cut its stake in AllianceBernstein Holding L.P. (NYSE:AB) by 35.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,500 shares of the asset manager’s stock after selling 3,500 shares during the quarter. Merrion Investment Management Co LLC’s holdings in AllianceBernstein were worth $241,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AB. NBC Securities Inc. lifted its stake in AllianceBernstein by 80.8% during the third 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 last quarter. Captrust Financial Advisors lifted its stake in AllianceBernstein by 4.9% during the third quarter. Captrust Financial Advisors now owns 7,587 shares of the asset manager’s stock worth $265,000 after purchasing an additional 355 shares during the last quarter. Second Line Capital LLC lifted its stake in AllianceBernstein by 5.9% during the third quarter. Second Line Capital LLC now owns 7,907 shares of the asset manager’s stock worth $276,000 after purchasing an additional 443 shares during the last quarter. Creative Planning lifted its stake in AllianceBernstein by 3.2% during the third quarter. Creative Planning now owns 15,005 shares of the asset manager’s stock worth $524,000 after purchasing an additional 469 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in shares of 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 acquiring an additional 549 shares during the last quarter. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

AllianceBernstein Price Performance

Shares of NYSE:AB opened at $39.53 on Thursday. AllianceBernstein Holding L.P. has a 1 year low of $30.57 and a 1 year high of $40.86. The stock’s 50-day moving average is $36.90 and its 200 day moving average is $35.79. The company has a market cap of $4.55 billion, a PE ratio of 11.33, a P/E/G ratio of 0.81 and a beta of 1.20.

Analyst Ratings Changes

A number of research firms have recently weighed in on AB. The Goldman Sachs Group boosted their target price on AllianceBernstein from $40.75 to $41.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Evercore ISI boosted their price target on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Barclays reduced their price target on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

AllianceBernstein 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.