MONECO Advisors LLC purchased a new position in Alibaba Group Holding Ltd (NYSE:BABA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,220 shares of the specialty retailer’s stock, valued at approximately $223,000.
Several other hedge funds also recently made changes to their positions in BABA. Blue Fin Capital Inc. boosted its position in shares of Alibaba Group by 27.0% in the third quarter. Blue Fin Capital Inc. now owns 8,387 shares of the specialty retailer’s stock worth $1,382,000 after purchasing an additional 1,783 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Alibaba Group by 34.0% in the third quarter. Neuberger Berman Group LLC now owns 2,680,158 shares of the specialty retailer’s stock worth $441,583,000 after purchasing an additional 680,246 shares during the period. Beaton Management Co. Inc. boosted its position in shares of Alibaba Group by 12.5% in the third quarter. Beaton Management Co. Inc. now owns 4,955 shares of the specialty retailer’s stock worth $816,000 after purchasing an additional 550 shares during the period. Nordea Investment Management AB bought a new position in shares of Alibaba Group in the third quarter worth approximately $490,205,000. Finally, B. Riley Wealth Management Inc. bought a new position in shares of Alibaba Group in the third quarter worth approximately $1,669,000. Hedge funds and other institutional investors own 40.49% of the company’s stock.
BABA stock traded down $4.60 during mid-day trading on Wednesday, reaching $158.83. 24,345,031 shares of the stock traded hands, compared to its average volume of 14,589,492. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.18. Alibaba Group Holding Ltd has a one year low of $129.77 and a one year high of $211.70. The stock has a market capitalization of $434.29 billion, a price-to-earnings ratio of 44.24, a price-to-earnings-growth ratio of 1.40 and a beta of 2.27.
Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Wednesday, May 15th. The specialty retailer reported $8.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $7.82. Alibaba Group had a net margin of 23.17% and a return on equity of 12.72%. The business had revenue of $93.50 billion for the quarter, compared to analysts’ expectations of $91.68 billion. During the same quarter in the previous year, the business posted $5.73 earnings per share. The business’s revenue was up 51.0% compared to the same quarter last year. As a group, equities research analysts expect that Alibaba Group Holding Ltd will post 4.88 EPS for the current year.
A number of equities analysts have weighed in on the stock. Barclays upped their price target on shares of Alibaba Group from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. KeyCorp reissued an “overweight” rating and issued a $240.00 target price (up previously from $210.00) on shares of Alibaba Group in a report on Tuesday, May 7th. ValuEngine raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. Zacks Investment Research raised shares of Alibaba Group from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Finally, Robert W. Baird boosted their target price on shares of Alibaba Group from $178.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, March 29th. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $216.85.
Alibaba Group Company Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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