Alibaba Group Holding Limited $BABA Shares Sold by GMT Capital Corp

GMT Capital Corp reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 36.9% during the 2nd quarter, Holdings Channel reports. The fund owned 436,200 shares of the specialty retailer’s stock after selling 254,800 shares during the quarter. Alibaba Group makes up approximately 2.1% of GMT Capital Corp’s investment portfolio, making the stock its 15th biggest position. GMT Capital Corp’s holdings in Alibaba Group were worth $49,469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. 1248 Management LLC purchased a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC lifted its stake in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Alibaba Group in the first quarter worth approximately $26,000. Rosenberg Matthew Hamilton purchased a new stake in shares of Alibaba Group in the 2nd quarter valued at approximately $26,000. Finally, NewSquare Capital LLC raised its holdings in shares of Alibaba Group by 65.0% in the 2nd quarter. NewSquare Capital LLC now owns 330 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 130 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Down 0.9%

Shares of NYSE BABA opened at $155.56 on Friday. The business has a 50-day moving average price of $164.60 and a 200 day moving average price of $141.15. The stock has a market cap of $371.18 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.41 and a beta of 0.33. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Alibaba Group from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Barclays lifted their price target on Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Bank of America increased their price objective on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. UBS Group restated a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Finally, Jefferies Financial Group upped their price target on Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, September 29th. Seventeen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $194.00.

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.