Short Interest in Alibaba Group Holding Limited (BABA) Grows By 2.8%

Alibaba Group Holding Limited (NYSE:BABA) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 136,747,219 shares, an increase of 2.8% from the August 15th total of 132,975,818 shares. Currently, 5.4% of the company’s shares are sold short. Based on an average daily trading volume, of 25,155,356 shares, the days-to-cover ratio is currently 5.4 days.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Shine Investment Advisory Services Inc. purchased a new position in Alibaba Group Holding Limited during the second quarter worth about $102,000. FNY Managed Accounts LLC purchased a new position in Alibaba Group Holding Limited during the first quarter worth about $107,000. Lee Financial Co raised its holdings in Alibaba Group Holding Limited by 45.5% during the second quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after purchasing an additional 250 shares in the last quarter. Winch Advisory Services LLC raised its holdings in Alibaba Group Holding Limited by 147.4% during the second quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock worth $114,000 after purchasing an additional 482 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA purchased a new position in Alibaba Group Holding Limited during the second quarter worth about $116,000. Institutional investors and hedge funds own 37.38% of the company’s stock.

BABA has been the topic of several research analyst reports. Robert W. Baird increased their price objective on Alibaba Group Holding Limited from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 18th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $208.00 price objective (up previously from $200.00) on shares of Alibaba Group Holding Limited in a research note on Sunday, August 20th. J P Morgan Chase & Co initiated coverage on Alibaba Group Holding Limited in a research note on Tuesday, June 27th. They issued an “overweight” rating and a $190.00 price objective on the stock. Oppenheimer Holdings, Inc. increased their price objective on Alibaba Group Holding Limited to $200.00 and gave the stock an “outperform” rating in a research note on Sunday, September 3rd. Finally, Vetr raised Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating and set a $173.25 price objective on the stock in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. Alibaba Group Holding Limited has a consensus rating of “Buy” and a consensus price target of $169.20.

Alibaba Group Holding Limited (NYSE BABA) opened at 178.14 on Friday. The stock has a market cap of $453.01 billion, a price-to-earnings ratio of 59.80 and a beta of 2.62. Alibaba Group Holding Limited has a 1-year low of $86.01 and a 1-year high of $180.87. The firm’s 50 day moving average price is $166.56 and its 200-day moving average price is $135.68.

Alibaba Group Holding Limited (NYSE:BABA) last announced its earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.21. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 16.85%. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, equities analysts anticipate that Alibaba Group Holding Limited will post $5.01 earnings per share for the current year.

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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.

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