Atlanta Consulting Group Advisors LLC Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Atlanta Consulting Group Advisors LLC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,086 shares of the specialty retailer’s stock, valued at approximately $221,000.

Several other institutional investors have also recently bought and sold shares of BABA. Assenagon Asset Management S.A. raised its holdings in shares of Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after purchasing an additional 5,715,155 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Alibaba Group by 9,205.2% in the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after purchasing an additional 1,679,117 shares during the last quarter. AMF Tjanstepension AB raised its holdings in shares of Alibaba Group by 79.5% in the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after purchasing an additional 1,156,479 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Alibaba Group by 384.2% in the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after purchasing an additional 1,130,643 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Alibaba Group by 523.8% in the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after purchasing an additional 1,121,500 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA stock opened at $88.59 on Monday. The firm has a 50 day moving average of $98.18 and a 200-day moving average of $85.70. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The firm has a market capitalization of $212.12 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 0.39 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same period last year, the business earned $2.47 earnings per share. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BABA shares. Truist Financial lowered their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Sanford C. Bernstein raised their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Loop Capital restated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Finally, StockNews.com downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.53.

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.