Alibaba Group Holding Limited (NYSE:BABA) is Scion Asset Management LLC’s Largest Position

Scion Asset Management LLC raised its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 24.0% during the second quarter, HoldingsChannel reports. The firm owned 155,000 shares of the specialty retailer’s stock after buying an additional 30,000 shares during the period. Alibaba Group comprises about 21.3% of Scion Asset Management LLC’s investment portfolio, making the stock its biggest holding. Scion Asset Management LLC’s holdings in Alibaba Group were worth $11,160,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group in the 2nd quarter worth about $25,000. GPS Wealth Strategies Group LLC increased its stake in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in Alibaba Group during the 1st quarter worth approximately $31,000. Asset Dedication LLC increased its position in Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Alibaba Group in the second quarter valued at approximately $38,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Up 10.0 %

Shares of Alibaba Group stock opened at $105.04 on Friday. The business’s 50 day simple moving average is $82.34 and its 200 day simple moving average is $78.26. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $105.97. The firm has a market cap of $266.54 billion, a PE ratio of 24.48, a P/E/G ratio of 0.46 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 (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.47 EPS. On average, analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BABA shares. JPMorgan Chase & Co. increased their target price on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Robert W. Baird raised their price target on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.61.

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.