Private Capital Management Inc. cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 32.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,700 shares of the specialty retailer’s stock after selling 1,300 shares during the period. Private Capital Management Inc.’s holdings in Alibaba Group Holding Limited were worth $380,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in BABA. HighPoint Advisor Group LLC raised its stake in Alibaba Group Holding Limited by 10.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 4,545 shares of the specialty retailer’s stock worth $473,000 after buying an additional 414 shares during the period. Macquarie Group Ltd. raised its stake in Alibaba Group Holding Limited by 10.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,635,764 shares of the specialty retailer’s stock worth $143,627,000 after buying an additional 151,640 shares during the period. Atalanta Sosnoff Capital LLC raised its stake in Alibaba Group Holding Limited by 22.9% in the first quarter. Atalanta Sosnoff Capital LLC now owns 452,439 shares of the specialty retailer’s stock worth $48,786,000 after buying an additional 84,437 shares during the period. Burns J W & Co. Inc. NY acquired a new stake in Alibaba Group Holding Limited during the first quarter worth about $531,000. Finally, Rathbone Brothers plc raised its stake in Alibaba Group Holding Limited by 6.2% in the first quarter. Rathbone Brothers plc now owns 32,038 shares of the specialty retailer’s stock worth $3,455,000 after buying an additional 1,867 shares during the period. 36.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alibaba Group Holding Limited (NYSE BABA) opened at 154.15 on Friday. The company’s 50 day moving average price is $144.79 and its 200-day moving average price is $118.04. The firm has a market capitalization of $390.00 billion, a PE ratio of 61.24 and a beta of 2.62. Alibaba Group Holding Limited has a 52 week low of $81.94 and a 52 week high of $160.39.
Alibaba Group Holding Limited (NYSE:BABA) last announced its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.26 billion. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. During the same period in the prior year, the business earned $0.47 earnings per share. On average, equities research analysts expect that Alibaba Group Holding Limited will post $4.56 EPS for the current fiscal year.
Alibaba Group Holding Limited declared that its Board of Directors has initiated a stock buyback program on Thursday, May 18th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
BABA has been the topic of a number of research analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $130.00 target price (up previously from $117.00) on shares of Alibaba Group Holding Limited in a report on Sunday, April 2nd. Benchmark Co. initiated coverage on Alibaba Group Holding Limited in a report on Tuesday, April 18th. They issued a “buy” rating and a $140.00 target price on the stock. MKM Partners reaffirmed a “buy” rating and issued a $130.00 target price on shares of Alibaba Group Holding Limited in a report on Tuesday, April 18th. Standpoint Research lowered Alibaba Group Holding Limited from a “buy” rating to a “reduce” rating in a report on Thursday, April 20th. They noted that the move was a valuation call. Finally, Vetr lowered Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $131.78 target price on the stock. in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Alibaba Group Holding Limited currently has a consensus rating of “Buy” and a consensus price target of $140.85.
Alibaba Group Holding Limited Company Profile
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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