Hi Line Capital Management LLC Cuts Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Hi Line Capital Management LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 78,874 shares of the specialty retailer’s stock after selling 7,591 shares during the quarter. Alibaba Group comprises approximately 2.4% of Hi Line Capital Management LLC’s holdings, making the stock its 16th largest position. Hi Line Capital Management LLC’s holdings in Alibaba Group were worth $6,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. Princeton Global Asset Management LLC purchased a new position in shares of Alibaba Group in the 3rd quarter valued at $26,000. Baystate Wealth Management LLC lifted its holdings in Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after buying an additional 216 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of Alibaba Group in the 4th quarter worth about $26,000. GPS Wealth Strategies Group LLC boosted its stake in Alibaba Group by 116.7% in the third quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 175 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in shares of Alibaba Group during the third quarter worth about $30,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BABA has been the subject of several research analyst reports. Susquehanna cut their price objective on Alibaba Group from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 8th. Citigroup reduced their target price on Alibaba Group from $126.00 to $124.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Robert W. Baird decreased their price target on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Mizuho restated a “buy” rating and issued a $95.00 price objective on shares of Alibaba Group in a research note on Wednesday, March 27th. Finally, Morgan Stanley restated an “equal weight” rating and set a $85.00 price target on shares of Alibaba Group in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.49.

Alibaba Group Trading Up 0.5 %

Shares of NYSE BABA opened at $78.87 on Thursday. The stock has a market cap of $200.13 billion, a P/E ratio of 14.48 and a beta of 0.44. The firm has a 50 day moving average price of $73.60 and a two-hundred day moving average price of $75.11. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $102.50.

Alibaba Group (NYSE:BABA) last announced its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The firm had revenue of $260.35 billion for the quarter, compared to the consensus estimate of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. Alibaba Group’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 EPS. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 7.54 EPS 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.