QRG Capital Management Inc. Has $3.96 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

QRG Capital Management Inc. lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4.4% during the 3rd quarter, Holdings Channel reports. The firm owned 37,324 shares of the specialty retailer’s stock after purchasing an additional 1,589 shares during the quarter. QRG Capital Management Inc.’s holdings in Alibaba Group were worth $3,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of BABA. Assenagon Asset Management S.A. increased its position in Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after buying an additional 5,715,155 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Alibaba Group by 9,205.2% during the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. AMF Tjanstepension AB grew its position 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 increased its stake in shares of Alibaba Group by 384.2% during the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after purchasing an additional 1,130,643 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Alibaba Group by 523.8% in the 2nd 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 period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $96.74 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The firm has a market capitalization of $231.69 billion, a P/E ratio of 25.32, a P/E/G ratio of 0.46 and a beta of 0.35. The company’s 50 day moving average price is $96.65 and its two-hundred day moving average price is $84.70.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $2.47 EPS. On average, equities analysts forecast that Alibaba Group Holding Limited will post 8.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BABA has been the topic of several recent research reports. Barclays increased their price objective on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Susquehanna dropped their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Bank of America increased their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $113.13.

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.