Polymer Capital Management HK LTD Lowers Position in Alibaba Group Holding Limited (NYSE:BABA)

Polymer Capital Management HK LTD trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 73.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,600 shares of the specialty retailer’s stock after selling 141,874 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Alibaba Group were worth $4,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Alibaba Group in the fourth quarter worth $585,479,000. Appaloosa LP boosted its holdings in shares of Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares in the last quarter. WT Asset Management Ltd increased its position in shares of Alibaba Group by 364.4% during the 4th quarter. WT Asset Management Ltd now owns 634,200 shares of the specialty retailer’s stock valued at $53,774,000 after purchasing an additional 497,623 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new stake in Alibaba Group in the 4th quarter worth approximately $42,175,000. Finally, Contrarius Group Holdings Ltd purchased a new stake in Alibaba Group in the fourth quarter worth approximately $33,820,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Down 9.9 %

NYSE BABA opened at $116.56 on Friday. The stock’s fifty day moving average price is $125.77 and its 200-day moving average price is $104.10. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a market cap of $276.85 billion, a P/E ratio of 16.84, a P/E/G ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $148.43.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The firm had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BABA. JPMorgan Chase & Co. boosted their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a research report on Friday, February 28th. Sanford C. Bernstein raised Alibaba Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Benchmark increased their price objective on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Barclays raised their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $148.14.

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.