Premier Fund Managers Ltd Boosts Stake in Alibaba Group Holding Limited $BABA

Premier Fund Managers Ltd raised its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 232.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,980 shares of the specialty retailer’s stock after buying an additional 71,980 shares during the quarter. Premier Fund Managers Ltd’s holdings in Alibaba Group were worth $18,524,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BABA. NTV Asset Management LLC raised its holdings in shares of Alibaba Group by 127.4% in the third quarter. NTV Asset Management LLC now owns 15,143 shares of the specialty retailer’s stock worth $2,707,000 after buying an additional 8,484 shares during the period. Marex Group plc purchased a new position in Alibaba Group during the 2nd quarter valued at $17,139,000. Y Intercept Hong Kong Ltd grew its position in Alibaba Group by 197.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 34,225 shares of the specialty retailer’s stock valued at $3,881,000 after acquiring an additional 22,701 shares during the last quarter. RD Finance Ltd purchased a new stake in Alibaba Group in the second quarter worth $3,408,000. Finally, Oriental Harbor Investment Master Fund bought a new stake in shares of Alibaba Group during the third quarter worth $39,500,000. Institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BABA. Weiss Ratings restated a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, January 21st. Nomura upped their target price on shares of Alibaba Group from $193.00 to $237.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Sanford C. Bernstein reduced their target price on shares of Alibaba Group from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 26th. Arete Research upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a report on Wednesday, January 21st. Finally, Rosenblatt Securities set a $195.00 price objective on Alibaba Group in a research note on Wednesday, November 26th. Seventeen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.17.

Alibaba Group Stock Performance

Shares of BABA opened at $154.60 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. The firm has a market cap of $369.10 billion, a PE ratio of 21.35, a P/E/G ratio of 3.38 and a beta of 0.39. Alibaba Group Holding Limited has a 12 month low of $95.73 and a 12 month high of $192.67. The stock has a fifty day moving average price of $158.99 and a 200-day moving average price of $156.51.

Alibaba Group Company Profile

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.