Harber Asset Management LLC Increases Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Harber Asset Management LLC lifted its stake in Alibaba Group Holding Limited (NYSE:BABA) by 17.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,464 shares of the specialty retailer’s stock after purchasing an additional 30,201 shares during the quarter. Alibaba Group accounts for approximately 6.6% of Harber Asset Management LLC’s holdings, making the stock its biggest position. Harber Asset Management LLC’s holdings in Alibaba Group were worth $22,016,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group during the 2nd quarter valued at about $25,000. GPS Wealth Strategies Group LLC increased its position in Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group in the second quarter valued at about $27,000. Concord Wealth Partners lifted its holdings in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 155 shares during the period. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $85.95 on Tuesday. 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 fifty-two week low of $66.63 and a fifty-two week high of $117.82. The stock’s 50-day simple moving average is $98.45 and its 200-day simple moving average is $86.11. The firm has a market capitalization of $205.65 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.43 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results 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 firm had revenue of $236.50 billion during 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%. Alibaba Group’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 earnings per share. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on BABA. Loop Capital reiterated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Mizuho raised their price target on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Finally, Bank of America boosted 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. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.07.

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.