Premier Fund Managers Ltd Boosts Stake in Alibaba Group Holding Limited $BABA

Premier Fund Managers Ltd increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 232.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 102,980 shares of the specialty retailer’s stock after buying an additional 71,980 shares during the quarter. Premier Fund Managers Ltd’s holdings in Alibaba Group were worth $18,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after purchasing an additional 981 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Alibaba Group during the first quarter worth about $254,000. Stephens Inc. AR boosted its position in Alibaba Group by 10.4% in the second quarter. Stephens Inc. AR now owns 8,133 shares of the specialty retailer’s stock valued at $922,000 after buying an additional 767 shares during the last quarter. Whittier Trust Co. increased its holdings in Alibaba Group by 56.8% in the 2nd quarter. Whittier Trust Co. now owns 1,129 shares of the specialty retailer’s stock worth $128,000 after buying an additional 409 shares during the period. Finally, Cullen Frost Bankers Inc. raised its position in Alibaba Group by 43.6% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 530 shares of the specialty retailer’s stock worth $60,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $154.60 on Friday. The stock has a market capitalization of $369.10 billion, a P/E ratio of 21.35, a PEG ratio of 3.38 and a beta of 0.39. The business has a 50 day simple moving average of $158.99 and a two-hundred day simple moving average of $156.51. Alibaba Group Holding Limited has a 12 month low of $95.73 and a 12 month high of $192.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Rosenblatt Securities set a $195.00 price objective on shares of Alibaba Group in a report on Wednesday, November 26th. Barclays upped their price target on shares of Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Wall Street Zen lowered Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Loop Capital set a $140.00 price objective on Alibaba Group in a report on Tuesday, January 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $195.00 target price on shares of Alibaba Group in a report on Tuesday, November 25th. Seventeen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.17.

About Alibaba Group

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.