GMT Capital Corp Decreases Stake in Alibaba Group Holding Limited $BABA

GMT Capital Corp lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 36.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 436,200 shares of the specialty retailer’s stock after selling 254,800 shares during the quarter. Alibaba Group makes up about 2.1% of GMT Capital Corp’s portfolio, making the stock its 15th biggest holding. GMT Capital Corp’s holdings in Alibaba Group were worth $49,469,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BABA. Temasek Holdings Private Ltd increased its holdings in shares of Alibaba Group by 23.4% in the first quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock valued at $728,633,000 after purchasing an additional 1,045,789 shares during the last quarter. American Century Companies Inc. grew its holdings in Alibaba Group by 52.1% in the 1st quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock valued at $303,215,000 after buying an additional 785,494 shares in the last quarter. Verde Servicos Internacionais S.A. grew its holdings in Alibaba Group by 6.9% in the 2nd quarter. Verde Servicos Internacionais S.A. now owns 67,773 shares of the specialty retailer’s stock valued at $7,686,000 after buying an additional 4,373 shares in the last quarter. Causeway Capital Management LLC increased its stake in shares of Alibaba Group by 42.6% in the 1st quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock worth $179,305,000 after acquiring an additional 404,842 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new position in shares of Alibaba Group during the 2nd quarter worth $15,318,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BABA. UBS Group reissued a “buy” rating and issued a $162.00 price objective on shares of Alibaba Group in a report on Sunday, August 31st. Arete Research set a $172.00 price target on shares of Alibaba Group in a research note on Tuesday. Bank of America raised their price target on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Zacks Research cut Alibaba Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, Susquehanna increased their price objective on Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research report on Thursday, September 18th. Seventeen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $194.00.

Alibaba Group Stock Performance

NYSE:BABA opened at $155.56 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The company 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 capitalization of $371.18 billion, a P/E ratio of 21.49, a PEG ratio of 2.41 and a beta of 0.33.

Alibaba Group 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.