Pekin Hardy Strauss Inc. Invests $827,000 in Alibaba Group Holding Limited $BABA

by · The Markets Daily

Pekin Hardy Strauss Inc. acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,628 shares of the specialty retailer’s stock, valued at approximately $827,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. Mather Group LLC. bought a new position in shares of Alibaba Group during the 3rd quarter valued at $30,000. NBT Bank N A NY increased its position in Alibaba Group by 231.5% during the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 125 shares during the last quarter. NewSquare Capital LLC increased its position in Alibaba Group by 65.0% during the second quarter. NewSquare Capital LLC now owns 330 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 130 shares during the last quarter. Elkhorn Partners Limited Partnership lifted its holdings in Alibaba Group by 33.3% in the second quarter. Elkhorn Partners Limited Partnership now owns 400 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 100 shares during the period. Finally, Richardson Financial Services Inc. boosted its position in Alibaba Group by 34.4% in the third quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Alibaba Group from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, January 21st. Jefferies Financial Group decreased their price target on shares of Alibaba Group from $231.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Barclays boosted their price objective on shares of Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Finally, Loop Capital set a $140.00 target price on Alibaba Group in a report on Tuesday, January 6th. Seventeen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $195.17.

Get Our Latest Analysis on BABA

Alibaba Group Stock Up 0.2%

BABA opened at $154.60 on Friday. The stock has a market cap of $369.10 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 3.38 and a beta of 0.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The firm’s fifty day moving average is $158.99 and its 200 day moving average is $156.24. Alibaba Group Holding Limited has a fifty-two week low of $95.73 and a fifty-two week high of $192.67.

Alibaba Group Profile

(Free Report)

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

Recommended Stories

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA – Free Report).