AM Investment Strategies LLC Acquires Shares of 2,325 Alibaba Group Holding Limited (NYSE:BABA)

AM Investment Strategies LLC bought a new position in Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, Holdings Channel reports. The fund bought 2,325 shares of the specialty retailer’s stock, valued at approximately $247,000.

A number of other hedge funds also recently made changes to their positions in BABA. Primecap Management Co. CA grew its position in Alibaba Group by 5.2% in the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after acquiring an additional 1,074,175 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after acquiring an additional 5,715,155 shares during the period. Discerene Group LP boosted its stake in shares of Alibaba Group by 21.2% during the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock worth $218,627,000 after purchasing an additional 529,237 shares during the period. AMF Tjanstepension AB grew its holdings in Alibaba Group by 6.9% during the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after purchasing an additional 178,999 shares during the last quarter. Finally, Eminence Capital LP lifted its stake in Alibaba Group by 9.0% in the second quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock worth $131,788,000 after purchasing an additional 150,488 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 0.4 %

Shares of NYSE:BABA traded down $0.40 during trading on Friday, reaching $97.58. The stock had a trading volume of 8,501,018 shares, compared to its average volume of 17,709,539. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $233.70 billion, a P/E ratio of 25.54, a PEG ratio of 0.46 and a beta of 0.35. The firm’s 50-day simple moving average is $95.62 and its 200 day simple moving average is $83.99. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.47 earnings per share. As a group, research analysts expect that Alibaba Group Holding Limited will post 8.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BABA has been the topic of several recent analyst reports. Barclays increased their price target on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Sanford C. Bernstein raised their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.13.

Alibaba Group Profile

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.