Crawford Lake Capital Management LLC Has $15.93 Million Holdings in Alibaba Group Holding Limited (BABA)

Crawford Lake Capital Management LLC lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 47.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,076 shares of the specialty retailer’s stock after selling 103,719 shares during the quarter. Alibaba Group Holding Limited accounts for about 3.5% of Crawford Lake Capital Management LLC’s holdings, making the stock its 3rd biggest position. Crawford Lake Capital Management LLC’s holdings in Alibaba Group Holding Limited were worth $15,932,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Shine Investment Advisory Services Inc. purchased a new stake in shares of Alibaba Group Holding Limited during the 2nd quarter worth approximately $102,000. Lee Financial Co boosted its stake in shares of Alibaba Group Holding Limited by 45.5% during the 2nd quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after acquiring an additional 250 shares in the last quarter. Winch Advisory Services LLC boosted its stake in shares of Alibaba Group Holding Limited by 147.4% during the 2nd quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock worth $114,000 after acquiring an additional 482 shares in the last quarter. Carroll Financial Associates Inc. boosted its stake in shares of Alibaba Group Holding Limited by 9.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 930 shares of the specialty retailer’s stock worth $131,000 after acquiring an additional 80 shares in the last quarter. Finally, West Oak Capital LLC boosted its stake in shares of Alibaba Group Holding Limited by 81.0% during the 2nd quarter. West Oak Capital LLC now owns 950 shares of the specialty retailer’s stock worth $134,000 after acquiring an additional 425 shares in the last quarter. 37.40% of the stock is currently owned by institutional investors.

WARNING: This piece was originally reported by Stock Observer and is owned by of Stock Observer. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece can be viewed at https://www.thestockobserver.com/2017/09/12/crawford-lake-capital-management-llc-has-15-93-million-holdings-in-alibaba-group-holding-limited-baba.html.

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded up 0.61% during mid-day trading on Tuesday, reaching $175.12. 8,408,034 shares of the company were exchanged. The company has a market capitalization of $445.33 billion, a price-to-earnings ratio of 59.42 and a beta of 2.62. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $177.00. The firm’s 50-day moving average is $162.19 and its 200-day moving average is $132.13.

Alibaba Group Holding Limited (NYSE:BABA) last released its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.21. The business had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $7.16 billion. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 16.85%. During the same quarter last year, the firm earned $0.74 EPS. On average, equities analysts forecast that Alibaba Group Holding Limited will post $5.10 earnings per share for the current fiscal year.

Alibaba Group Holding Limited declared that its board has authorized a share repurchase plan on Thursday, May 18th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Several brokerages have recently commented on BABA. Robert W. Baird reissued an “outperform” rating and set a $135.00 price target (up previously from $116.00) on shares of Alibaba Group Holding Limited in a research note on Friday, May 19th. Macquarie boosted their price target on Alibaba Group Holding Limited from $171.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, August 18th. Bank of America Corporation boosted their price target on Alibaba Group Holding Limited from $180.00 to $193.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Vetr lowered Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $193.24 price target on the stock. in a research note on Tuesday. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $140.00 price target (up previously from $130.00) on shares of Alibaba Group Holding Limited in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $169.20.

About Alibaba Group Holding Limited

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, 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 (China) and internationally.

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).

Institutional Ownership by Quarter for Alibaba Group Holding Limited (NYSE:BABA)

Receive News & Ratings for Alibaba Group Holding Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group Holding Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply