Yong Rong HK Asset Management Ltd Increases Position in Alibaba Group Holding Limited (NYSE:BABA)

Yong Rong HK Asset Management Ltd grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,000 shares of the specialty retailer’s stock after buying an additional 10,000 shares during the quarter. Alibaba Group accounts for 1.1% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 13th largest position. Yong Rong HK Asset Management Ltd’s holdings in Alibaba Group were worth $2,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC lifted its position in shares of Alibaba Group by 21.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer’s stock valued at $13,180,000 after acquiring an additional 27,088 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Alibaba Group by 131.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer’s stock worth $6,343,000 after buying an additional 42,446 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Alibaba Group by 63.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after buying an additional 11,192 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Alibaba Group by 7,734.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after buying an additional 266,361 shares during the last quarter. Finally, Aspex Management HK Ltd purchased a new position in shares of Alibaba Group in the third quarter worth about $115,995,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Alibaba Group stock opened at $143.67 on Friday. The company’s 50 day simple moving average is $95.43 and its 200-day simple moving average is $92.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. Alibaba Group Holding Limited has a 1 year low of $68.36 and a 1 year high of $145.30. The company has a market capitalization of $341.36 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 0.57 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a net margin of 12.29% and a return on equity of 12.90%. The company had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. As a group, equities research analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BABA. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday. Bank of America increased their price target on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday. Benchmark upped their target price on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Mizuho lifted their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird boosted their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $131.93.

Alibaba Group Company 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.