Alibaba Group Holding Limited (NYSE:BABA) Stake Boosted by Long Corridor Asset Management Ltd

Long Corridor Asset Management Ltd grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,000 shares of the specialty retailer’s stock after purchasing an additional 20,000 shares during the period. Alibaba Group makes up about 7.6% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 5th biggest holding. Long Corridor Asset Management Ltd’s holdings in Alibaba Group were worth $10,175,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Alibaba Group by 3,180.1% in the third 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 worth $409,385,000 after buying an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. grew its stake in Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after purchasing an additional 3,448,152 shares during the last quarter. FMR LLC raised its stake in shares of Alibaba Group by 454.2% in the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after purchasing an additional 2,959,954 shares during the last quarter. Appaloosa LP boosted its position in Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after buying an additional 1,843,158 shares during the last quarter. Finally, Aspex Management HK Ltd acquired a new position in Alibaba Group in the 3rd quarter worth approximately $115,995,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of BABA stock opened at $134.58 on Tuesday. Alibaba Group Holding Limited has a 52 week low of $68.36 and a 52 week high of $148.43. The firm has a 50 day moving average of $117.57 and a two-hundred day moving average of $101.28. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $319.76 billion, a PE ratio of 19.45, a P/E/G ratio of 0.61 and a beta of 0.28.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). The company had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. On average, research analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Arete Research raised Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $100.00 to $180.00 in a research report on Monday, February 24th. Finally, Bank of America increased their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $144.07.

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.