Mitchell Mcleod Pugh & Williams Inc. Purchases New Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,140 shares of the specialty retailer’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BABA. Assenagon Asset Management S.A. increased its position in 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 worth $650,043,000 after buying an additional 5,715,155 shares during the last quarter. International Assets Investment Management LLC increased its position in Alibaba Group by 9,205.2% in the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after buying an additional 1,679,117 shares during the last quarter. AMF Tjanstepension AB increased its position in 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 buying an additional 1,156,479 shares during the last quarter. Marshall Wace LLP increased its position 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 worth $102,596,000 after buying an additional 1,130,643 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Alibaba Group by 523.8% in the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after buying an additional 1,121,500 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Down 5.9 %

Shares of NYSE BABA traded down $5.95 during mid-day trading on Friday, hitting $94.19. The stock had a trading volume of 24,879,795 shares, compared to its average volume of 15,538,736. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The business has a 50 day moving average price of $97.25 and a two-hundred day moving average price of $84.97. The firm has a market cap of $225.58 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.47 earnings per share. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Analyst Ratings Changes

BABA has been the subject of a number of recent research reports. Susquehanna decreased their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Bank of America lifted their price target on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a research report on Monday, October 7th. Truist Financial reduced their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.13.

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.