Concentric Capital Strategies LP Boosts Position in Alibaba Group Holding Limited (NYSE:BABA)

Concentric Capital Strategies LP lifted its position in Alibaba Group Holding Limited (NYSE:BABA) by 310.7% in the third quarter, HoldingsChannel reports. The firm owned 80,077 shares of the specialty retailer’s stock after buying an additional 60,579 shares during the period. Concentric Capital Strategies LP’s holdings in Alibaba Group were worth $8,498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA grew its stake in shares of Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after buying an additional 1,074,175 shares during the period. Sanders Capital LLC lifted its stake in shares of Alibaba Group by 0.3% in the 3rd quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer’s stock valued at $1,959,021,000 after purchasing an additional 60,667 shares during the last quarter. Hhlr Advisors LTD. grew its holdings in shares of Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after purchasing an additional 3,448,152 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Alibaba Group by 1,392.6% during 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 purchasing an additional 5,715,155 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Alibaba Group by 3,180.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after buying an additional 3,740,150 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Up 0.9 %

NYSE BABA opened at $87.37 on Monday. The stock has a market capitalization of $209.05 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35. The firm has a 50 day moving average of $98.45 and a two-hundred day moving average of $86.11. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 EPS. As a group, research analysts expect that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BABA shares. Sanford C. Bernstein lifted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Barclays dropped their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Benchmark restated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Bank of America boosted their price objective on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their target price on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

About Alibaba Group

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.