GQG Partners LLC Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

GQG Partners LLC purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,321,779 shares of the specialty retailer’s stock, valued at approximately $753,169,000. Alibaba Group makes up 2.2% of GQG Partners LLC’s portfolio, making the stock its 20th largest position. GQG Partners LLC owned about 0.12% of Alibaba Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BABA. Logan Capital Management Inc. acquired a new stake in shares of Alibaba Group during the 1st quarter worth approximately $29,000. Delos Wealth Advisors LLC bought a new position in Alibaba Group in the 2nd quarter valued at approximately $29,000. Sageworth Trust Co bought a new position in Alibaba Group in the 1st quarter valued at approximately $43,000. Cowen Prime Advisors LLC bought a new position in Alibaba Group in the 2nd quarter valued at approximately $45,000. Finally, Financial Management Professionals Inc. lifted its stake in Alibaba Group by 314.6% in the 2nd quarter. Financial Management Professionals Inc. now owns 199 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 24.48% of the company’s stock.

Several equities analysts recently commented on the stock. KeyCorp dropped their price objective on shares of Alibaba Group from $250.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, October 1st. Stifel Nicolaus dropped their price objective on shares of Alibaba Group from $260.00 to $210.00 and set a “buy” rating for the company in a research note on Wednesday, September 15th. CLSA dropped their price target on shares of Alibaba Group from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, August 4th. Benchmark raised their price target on shares of Alibaba Group from $270.00 to $277.00 and gave the company a “buy” rating in a research note on Tuesday, September 28th. Finally, Zacks Investment Research downgraded shares of Alibaba Group from a “hold” rating to a “strong sell” rating and set a $119.00 price target for the company. in a research note on Tuesday, October 5th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $280.44.

Shares of NYSE BABA traded down $2.38 during mid-day trading on Thursday, reaching $165.02. 313,665 shares of the company’s stock traded hands, compared to its average volume of 20,175,994. The stock has a market cap of $448.55 billion, a P/E ratio of 20.41, a PEG ratio of 1.31 and a beta of 0.79. The business has a 50-day simple moving average of $165.26 and a 200 day simple moving average of $199.57. Alibaba Group Holding Limited has a 1-year low of $138.43 and a 1-year high of $319.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.76 and a quick ratio of 1.76.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Monday, August 2nd. The specialty retailer reported $16.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $14.86. The firm had revenue of $205.74 billion during the quarter, compared to analysts’ expectations of $208.67 billion. Alibaba Group had a net margin of 19.25% and a return on equity of 12.92%. The business’s revenue was up 33.8% on a year-over-year basis. During the same period last year, the company earned $14.82 earnings per share. Equities research analysts anticipate that Alibaba Group Holding Limited will post 8.3 earnings per share for the current fiscal year.

Alibaba Group Profile

Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.

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

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