Chicago Partners Investment Group LLC boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 410.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BABA. FNY Managed Accounts LLC bought a new stake in shares of Alibaba Group Holding Limited during the first quarter valued at $107,000. 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 valued at $113,000 after buying an additional 250 shares in the last quarter. 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 valued at $127,000 after buying an additional 235 shares in the last quarter. WFG Advisors LP increased its stake in shares of Alibaba Group Holding Limited by 5.3% in the first quarter. WFG Advisors LP now owns 1,180 shares of the specialty retailer’s stock valued at $127,000 after buying an additional 59 shares in the last quarter. Finally, 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 valued at $131,000 after buying an additional 80 shares in the last quarter. Institutional investors own 36.81% of the company’s stock.
Alibaba Group Holding Limited (NYSE:BABA) traded up 2.77% during midday trading on Thursday, hitting $163.92. 56,778,391 shares of the company traded hands. Alibaba Group Holding Limited has a 12-month low of $86.01 and a 12-month high of $168.00. The stock has a market cap of $414.72 billion, a P/E ratio of 64.87 and a beta of 2.64. The stock has a 50 day moving average of $151.08 and a 200 day moving average of $123.81. Alibaba Group Holding Limited also was the recipient of unusually large options trading on Wednesday. Stock traders purchased 85,508 put options on the company. This is an increase of 228% compared to the average volume of 26,062 put options.
Alibaba Group Holding Limited (NYSE:BABA) last released its earnings results on Thursday, August 17th. The specialty retailer reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.44. The firm had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.16 billion. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. During the same period in the previous year, the company earned $0.74 earnings per share. Equities research analysts predict that Alibaba Group Holding Limited will post $4.64 EPS for the current fiscal year.
Alibaba Group Holding Limited declared that its Board of Directors has authorized a share buyback program on Thursday, May 18th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
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BABA has been the subject of several recent analyst reports. Needham & Company LLC boosted their price objective on shares of Alibaba Group Holding Limited from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Vetr downgraded shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $129.84 price objective for the company. in a research report on Monday, May 8th. MKM Partners restated a “buy” rating and set a $155.00 price objective (up previously from $130.00) on shares of Alibaba Group Holding Limited in a research report on Wednesday, May 17th. Royal Bank Of Canada restated a “buy” rating and set a $120.00 price objective on shares of Alibaba Group Holding Limited in a research report on Tuesday, May 16th. Finally, Stifel Nicolaus restated a “buy” rating and set a $139.00 price objective (up previously from $120.00) on shares of Alibaba Group Holding Limited in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $150.14.
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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