Discovery Capital Management LLC CT Acquires Shares of 79,700 Alibaba Group Holding Limited (NYSE:BABA)

Discovery Capital Management LLC CT acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 2nd quarter, HoldingsChannel reports. The fund acquired 79,700 shares of the specialty retailer’s stock, valued at approximately $5,738,000.

Other hedge funds have also recently modified their holdings of the company. First Command Advisory Services Inc. purchased a new stake in Alibaba Group in the 2nd quarter worth approximately $25,000. GPS Wealth Strategies Group LLC boosted its holdings in Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in Alibaba Group during the first quarter valued at $31,000. Asset Dedication LLC increased its holdings in Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 400 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new position in shares of Alibaba Group in the second quarter worth about $40,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.2 %

BABA stock opened at $88.29 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average of $80.79 and a two-hundred day moving average of $77.66. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $90.46. The company has a market cap of $224.04 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 0.43 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating 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 return on equity of 12.08% and a net margin of 7.31%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 earnings per share. As a group, analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of analyst reports. Susquehanna dropped their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Bank of America upped their target price on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Benchmark reissued a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note 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 research report on Friday, July 26th. Finally, Sanford C. Bernstein lifted their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.61.

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.