Private Management Group Inc. Sells 24,260 Shares of Alibaba Group Holding Limited $BABA

Private Management Group Inc. lowered its holdings in shares of Alibaba Group Holding Limited (NYSE:BABAFree Report) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 232,346 shares of the specialty retailer’s stock after selling 24,260 shares during the period. Alibaba Group comprises about 1.2% of Private Management Group Inc.’s investment portfolio, making the stock its 14th biggest position. Private Management Group Inc.’s holdings in Alibaba Group were worth $41,527,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after purchasing an additional 981 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Alibaba Group during the first quarter valued at about $254,000. Savant Capital LLC grew its stake in shares of Alibaba Group by 23.6% during the second quarter. Savant Capital LLC now owns 9,734 shares of the specialty retailer’s stock valued at $1,104,000 after buying an additional 1,861 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Alibaba Group by 98.6% in the second quarter. Allworth Financial LP now owns 7,065 shares of the specialty retailer’s stock worth $801,000 after buying an additional 3,507 shares during the period. Finally, Boston Partners lifted its stake in shares of Alibaba Group by 120.4% in the 2nd quarter. Boston Partners now owns 49,989 shares of the specialty retailer’s stock valued at $5,669,000 after acquiring an additional 27,312 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 0.8%

Shares of NYSE:BABA opened at $135.25 on Friday. Alibaba Group Holding Limited has a 1 year low of $95.73 and a 1 year high of $192.67. The company has a market cap of $322.90 billion, a PE ratio of 18.68, a P/E/G ratio of 2.93 and a beta of 0.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. The stock’s 50-day moving average is $156.08 and its 200 day moving average is $158.19.

Analysts Set New Price Targets

BABA has been the subject of several analyst reports. Rosenblatt Securities set a $195.00 target price on Alibaba Group in a report on Wednesday, November 26th. Loop Capital set a $140.00 price objective on Alibaba Group in a research report on Tuesday, January 6th. Erste Group Bank lowered Alibaba Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Benchmark restated a “buy” rating and issued a $195.00 target price on shares of Alibaba Group in a report on Tuesday, November 25th. Finally, Barclays lifted their target price on shares of Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Sixteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.17.

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Alibaba Group Company Profile

(Free Report)

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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