Alden Global Capital LLC Boosts Position in Alibaba Group Holding Limited (NYSE:BABA)

Alden Global Capital LLC increased its position in Alibaba Group Holding Limited (NYSE:BABA) by 32.0% during the second quarter, Holdings Channel reports. The fund owned 112,263 shares of the specialty retailer’s stock after purchasing an additional 27,211 shares during the quarter. Alibaba Group comprises approximately 6.7% of Alden Global Capital LLC’s investment portfolio, making the stock its 7th largest position. Alden Global Capital LLC’s holdings in Alibaba Group were worth $8,083,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. H&H International Investment LLC boosted its position in Alibaba Group by 63.1% during the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after acquiring an additional 1,918,730 shares during the period. Ruffer LLP lifted its holdings in Alibaba Group by 139.2% in the fourth quarter. Ruffer LLP now owns 3,140,839 shares of the specialty retailer’s stock worth $243,430,000 after purchasing an additional 1,828,019 shares during the period. AMF Tjanstepension AB grew its position in Alibaba Group by 79.5% in the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after buying an additional 1,156,479 shares in the last quarter. Marshall Wace LLP increased its stake in Alibaba Group by 384.2% during the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after buying an additional 1,130,643 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Alibaba Group by 523.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after buying an additional 1,121,500 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

Shares of BABA opened at $97.22 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market capitalization of $233.99 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 0.46 and a beta of 0.33. The business’s 50-day moving average is $81.40 and its 200-day moving average is $77.95. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $97.50.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $248.32 billion. During the same quarter in the prior year, the firm earned $2.47 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BABA shares. Bank of America increased their price objective on shares of Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Robert W. Baird lifted their price target on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Sanford C. Bernstein upped their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Finally, Truist Financial lowered their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Three investment 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.com, the stock has an average rating of “Moderate Buy” and an average target price 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.