The North Star Asset Management Inc. Invests $953,000 in Alibaba Group Holding Ltd. (BABA)

The North Star Asset Management Inc. Invests $953,000 in Alibaba Group Holding Ltd. (BABA)

North Star Asset Management Inc. acquired a new stake in shares of Alibaba Group Holding Ltd. (NYSE:BABA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 11,988 shares of the company’s stock, valued at approximately $953,000.

A number of other hedge funds have also recently modified their holdings of the stock. Cornerstone Advisors Inc. increased its position in Alibaba Group Holding by 2.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,594 shares of the company’s stock worth $127,000 after buying an additional 39 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in Alibaba Group Holding during the second quarter worth approximately $207,000. Eqis Capital Management Inc. increased its position in Alibaba Group Holding by 9.2% in the second quarter. Eqis Capital Management Inc. now owns 2,788 shares of the company’s stock worth $222,000 after buying an additional 234 shares in the last quarter. SignalPoint Asset Management LLC increased its position in Alibaba Group Holding by 4.9% in the second quarter. SignalPoint Asset Management LLC now owns 2,844 shares of the company’s stock worth $226,000 after buying an additional 132 shares in the last quarter. Finally, Cupps Capital Management LLC increased its position in Alibaba Group Holding by 23.8% in the first quarter. Cupps Capital Management LLC now owns 3,059 shares of the company’s stock worth $241,000 after buying an additional 589 shares in the last quarter. 29.15% of the stock is owned by institutional investors.

Alibaba Group Holding Ltd. (NYSE:BABA) traded up 1.26% during midday trading on Monday, reaching $103.13. The company had a trading volume of 5,616,903 shares. Alibaba Group Holding Ltd. has a 52-week low of $59.25 and a 52-week high of $109.87. The company has a market cap of $255.04 billion, a PE ratio of 36.56 and a beta of 2.94. The company’s 50-day moving average is $103.27 and its 200 day moving average is $86.72.

Alibaba Group Holding (NYSE:BABA) last posted its earnings results on Thursday, August 11th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.11. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Alibaba Group Holding had a return on equity of 12.31% and a net margin of 42.95%. During the same period last year, the firm earned $0.59 earnings per share. On average, equities research analysts forecast that Alibaba Group Holding Ltd. will post $3.29 EPS for the current year.

A number of equities analysts have commented on the stock. Evercore ISI lifted their price objective on shares of Alibaba Group Holding from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Brean Capital raised their target price on Alibaba Group Holding from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 12th. RBC Capital Markets raised their target price on Alibaba Group Holding from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, August 12th. Vetr cut Alibaba Group Holding from a “buy” rating to a “hold” rating and set a $81.07 target price on the stock. in a research note on Thursday, July 7th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $95.00 target price on shares of Alibaba Group Holding in a research note on Monday, August 8th. Two analysts have rated the stock with a hold rating, thirty have given a buy rating and three have assigned a strong buy rating to the company’s stock. Alibaba Group Holding currently has an average rating of “Buy” and a consensus price target of $113.22.

Alibaba Group Holding Company Profile

Alibaba Group Holding Limited is a holding company. 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 (the PRC or China) and internationally.

Related posts

Leave a Comment