Amazon Stock Stake Cut By Ancora Advisors
Ancora Advisors LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% during the second quarter, according to its latest SEC filing. The firm sold 4,519 shares of the e-commerce giant's stock, bringing its total holdings down to 167,856 shares. As a result, Amazon.com now makes up only 0.8% of Ancora Advisors LLC's investment portfolio.
The company's $40 million worth of Amazon shares is its 28th largest holding among all its investments. This change in ownership comes as other hedge funds and institutional investors have also been making moves to adjust their positions in the company. For instance, Prudent Man Investment Management Inc. boosted its stake by 87.7% during the fourth quarter.
Amazon's stock price opened at $246.15 on Tuesday, with a market cap of $2.66 trillion and a P/E ratio of 19.8. The company has a current ratio of 1.03, a quick ratio of 0.87, and a debt-to-equity ratio of 0.23.