Chicago Partners Investment Group LLC Acquires 2,460 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Chicago Partners Investment Group LLC boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 410.0% during the second quarter, Holdings Channel reports. The firm owned 3,060 shares of the specialty retailer’s stock after buying an additional 2,460 shares during the period. Chicago Partners Investment Group LLC’s holdings in Alibaba Group Holding Limited were worth $352,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Lee Financial Co increased its stake in shares of Alibaba Group Holding Limited by 45.5% in the second quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after buying an additional 250 shares during the period. Carroll Financial Associates Inc. increased its stake in shares of Alibaba Group Holding Limited by 9.4% in the second quarter. Carroll Financial Associates Inc. now owns 930 shares of the specialty retailer’s stock worth $131,000 after buying an additional 80 shares during the period. West Oak Capital LLC increased its stake in shares of Alibaba Group Holding Limited by 81.0% in the second quarter. West Oak Capital LLC now owns 950 shares of the specialty retailer’s stock worth $134,000 after buying an additional 425 shares during the period. FNY Managed Accounts LLC purchased a new stake in shares of Alibaba Group Holding Limited during the first quarter worth $107,000. Finally, Webster Bank N. A. increased its stake in shares of Alibaba Group Holding Limited by 25.0% in the first quarter. Webster Bank N. A. now owns 1,175 shares of the specialty retailer’s stock worth $127,000 after buying an additional 235 shares during the period. 36.75% of the stock is owned by institutional investors.

Alibaba Group Holding Limited (NYSE BABA) opened at 153.33 on Monday. The company has a market capitalization of $387.92 billion, a price-to-earnings ratio of 61.09 and a beta of 2.64. Alibaba Group Holding Limited has a 1-year low of $83.17 and a 1-year high of $160.39. The firm has a 50 day moving average of $146.12 and a 200-day moving average of $119.67.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings data on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post $4.56 earnings per share for the current fiscal year.

Alibaba Group Holding Limited declared that its Board of Directors has initiated a share buyback plan on Thursday, May 18th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

A number of brokerages have recently weighed in on BABA. Stifel Nicolaus reaffirmed a “buy” rating and set a $139.00 price target on shares of Alibaba Group Holding Limited in a report on Friday, June 9th. Benchmark Co. upped their price target on shares of Alibaba Group Holding Limited from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, June 12th. Needham & Company LLC upped their price target on shares of Alibaba Group Holding Limited from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, June 8th. Robert W. Baird upped their price target on shares of Alibaba Group Holding Limited from $135.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, June 12th. Finally, Instinet reaffirmed a “buy” rating on shares of Alibaba Group Holding Limited in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Alibaba Group Holding Limited currently has a consensus rating of “Buy” and an average target price of $140.99.

About Alibaba Group Holding Limited

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

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