Summit Financial LLC Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Summit Financial LLC bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,589 shares of the specialty retailer’s stock, valued at approximately $203,000.

A number of other institutional investors have also made changes to their positions in BABA. Great Valley Advisor Group Inc. increased its stake in shares of Alibaba Group by 288.4% in the 4th quarter. Great Valley Advisor Group Inc. now owns 32,156 shares of the specialty retailer’s stock valued at $2,493,000 after buying an additional 23,876 shares during the period. Triumph Capital Management bought a new stake in Alibaba Group during the 4th quarter worth about $325,000. Victory Capital Management Inc. lifted its position in Alibaba Group by 16.0% during the 4th quarter. Victory Capital Management Inc. now owns 13,785 shares of the specialty retailer’s stock valued at $1,068,000 after purchasing an additional 1,899 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Alibaba Group by 2.5% during the 4th quarter. Hexagon Capital Partners LLC now owns 6,664 shares of the specialty retailer’s stock worth $517,000 after buying an additional 164 shares during the period. Finally, Arnhold LLC raised its stake in shares of Alibaba Group by 52.9% during the fourth quarter. Arnhold LLC now owns 185,445 shares of the specialty retailer’s stock worth $14,374,000 after buying an additional 64,196 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Trading Up 1.2 %

NYSE BABA opened at $81.31 on Friday. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $102.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80. The stock’s 50 day moving average price is $73.36 and its two-hundred day moving average price is $75.25. The stock has a market capitalization of $206.32 billion, a price-to-earnings ratio of 15.00 and a beta of 0.44.

Alibaba Group (NYSE:BABA) last released its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The business had revenue of $260.35 billion during the quarter, compared to the consensus estimate of $260.26 billion. During the same period last year, the business posted $2.44 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts anticipate that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on BABA. Barclays lowered their target price on shares of Alibaba Group from $138.00 to $109.00 and set an “overweight” rating for the company in a report on Friday, January 12th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Macquarie cut Alibaba Group from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $88.50 to $85.40 in a research note on Thursday, February 8th. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.91.

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.