Central Asset Investments & Management Holdings HK Ltd Purchases Shares of 4,557 Alibaba Group Holding Limited (NYSE:BABA)

Central Asset Investments & Management Holdings HK Ltd acquired a new position in Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,557 shares of the specialty retailer’s stock, valued at approximately $328,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Command Advisory Services Inc. acquired a new position in Alibaba Group during the 2nd quarter valued at about $25,000. GPS Wealth Strategies Group LLC raised its position in shares of Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in Alibaba Group in the 1st quarter worth approximately $31,000. Asset Dedication LLC grew its position in Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new position in Alibaba Group during the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Loop Capital reiterated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Susquehanna cut their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Up 1.3 %

Shares of BABA opened at $84.70 on Wednesday. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $90.46. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $214.93 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.43 and a beta of 0.33. The stock’s 50-day moving average price is $80.25 and its 200-day moving average price is $77.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.47 EPS. On average, sell-side analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.