Clearline Capital LP Has $26.20 Million Stake in Alibaba Group Holding Limited (NYSE:BABA)

Clearline Capital LP lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 1.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 363,849 shares of the specialty retailer’s stock after selling 7,100 shares during the quarter. Alibaba Group comprises about 0.7% of Clearline Capital LP’s holdings, making the stock its 10th biggest position. Clearline Capital LP’s holdings in Alibaba Group were worth $26,197,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Fiduciary Alliance LLC lifted its position in shares of Alibaba Group by 154.1% in the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock valued at $4,052,000 after acquiring an additional 33,490 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after purchasing an additional 139,134 shares during the last quarter. SRN Advisors LLC grew its position in shares of Alibaba Group by 76.7% during the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares in the last quarter. ORG Partners LLC increased its holdings in shares of Alibaba Group by 52,685.7% in the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after purchasing an additional 11,064 shares during the last quarter. Finally, Leo Wealth LLC purchased a new stake in shares of Alibaba Group in the fourth quarter worth about $1,734,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BABA shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Robert W. Baird boosted their target price on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Price Performance

Shares of BABA stock opened at $107.33 on Friday. The stock has a 50 day moving average price of $82.98 and a 200 day moving average price of $78.50. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $109.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $272.35 billion, a P/E ratio of 25.02, a P/E/G ratio of 0.46 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $2.47 earnings per share. As a group, sell-side analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Alibaba Group Company 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.