Renaissance Group LLC Raises Stock Holdings in Alibaba Group Holding Limited $BABA

Renaissance Group LLC raised its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,625 shares of the specialty retailer’s stock after purchasing an additional 369 shares during the quarter. Renaissance Group LLC’s holdings in Alibaba Group were worth $6,195,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group in the first quarter valued at approximately $26,000. Summit Securities Group LLC lifted its stake in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd purchased a new stake in shares of Alibaba Group in the 1st quarter valued at $26,000. 1248 Management LLC acquired a new stake in shares of Alibaba Group in the first quarter worth $26,000. Finally, Rosenberg Matthew Hamilton purchased a new position in shares of Alibaba Group during the second quarter worth $26,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BABA shares. Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a report on Wednesday, September 24th. Arete Research upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Benchmark lifted their price target on Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Susquehanna raised their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research note on Thursday, September 18th. Finally, Sanford C. Bernstein increased their price target on shares of Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Trading Up 1.5%

Shares of NYSE:BABA opened at $160.05 on Wednesday. The business’s 50 day moving average price is $168.49 and its 200-day moving average price is $137.27. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The firm has a market capitalization of $381.89 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

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.