Private Management Group Inc. Grows Holdings in Alibaba Group Holding Limited (NYSE:BABA)

by · The Cerbat Gem

Private Management Group Inc. grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 324,226 shares of the specialty retailer’s stock after purchasing an additional 565 shares during the period. Alibaba Group accounts for about 1.2% of Private Management Group Inc.’s investment portfolio, making the stock its 21st largest position. Private Management Group Inc.’s holdings in Alibaba Group were worth $34,407,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Alibaba Group by 1,392.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after buying an additional 5,715,155 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. AMF Tjanstepension AB boosted its position in shares of Alibaba Group by 79.5% in the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after acquiring an additional 1,156,479 shares during the last quarter. Marshall Wace LLP grew its holdings in Alibaba Group by 384.2% in the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after purchasing an additional 1,130,643 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Alibaba Group by 523.8% during the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after purchasing an additional 1,121,500 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.4 %

Shares of NYSE:BABA traded down $0.40 during trading on Friday, hitting $97.58. The company’s stock had a trading volume of 8,501,018 shares, compared to its average volume of 17,709,539. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The stock’s 50-day moving average price is $95.62 and its two-hundred day moving average price is $83.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $233.70 billion, a PE ratio of 25.54, a PEG ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA – Get Free Report) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.47 EPS. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 8.08 EPS for the current year.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of research analyst reports. Bank of America upped their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Susquehanna cut their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Robert W. Baird boosted their target price on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein raised their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Finally, Barclays boosted their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.13.

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About Alibaba Group

(Free Report)

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.

See Also

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