Seaview Investment Managers LLC Boosts Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Seaview Investment Managers LLC grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,234 shares of the specialty retailer’s stock after purchasing an additional 247 shares during the quarter. Seaview Investment Managers LLC’s holdings in Alibaba Group were worth $377,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BABA. International Assets Investment Management LLC grew its holdings in shares of Alibaba Group by 168.6% during the fourth quarter. International Assets Investment Management LLC now owns 10,245 shares of the specialty retailer’s stock worth $794,000 after purchasing an additional 6,431 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Alibaba Group by 16.0% during the fourth quarter. Victory Capital Management Inc. now owns 13,785 shares of the specialty retailer’s stock worth $1,068,000 after buying an additional 1,899 shares during the last quarter. NBC Securities Inc. grew its holdings in shares of Alibaba Group by 15.6% during the fourth quarter. NBC Securities Inc. now owns 5,948 shares of the specialty retailer’s stock worth $461,000 after buying an additional 804 shares during the last quarter. Formidable Asset Management LLC purchased a new position in shares of Alibaba Group during the fourth quarter worth about $237,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Alibaba Group during the fourth quarter worth about $1,651,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BABA. Susquehanna lowered their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Truist Financial reduced their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Up 0.3 %

BABA stock opened at $81.43 on Tuesday. The stock has a market capitalization of $206.63 billion, a P/E ratio of 18.98, a PEG ratio of 0.41 and a beta of 0.33. 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 one year low of $66.63 and a one year high of $90.46. The company has a 50 day moving average price of $79.07 and a two-hundred day moving average price of $76.97.

Alibaba Group (NYSE:BABA) last released 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 firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.47 EPS. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Alibaba Group 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.