Contrarius Investment Management Ltd Acquires 6,563 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Contrarius Investment Management Ltd raised its position in Alibaba Group Holding Limited (NYSE:BABA) by 63.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 16,844 shares of the specialty retailer’s stock after acquiring an additional 6,563 shares during the period. Contrarius Investment Management Ltd’s holdings in Alibaba Group were worth $3,820,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. RGT Wealth Advisors LLC lifted its stake in Alibaba Group by 5.3% in the 1st quarter. RGT Wealth Advisors LLC now owns 974 shares of the specialty retailer’s stock valued at $221,000 after acquiring an additional 49 shares in the last quarter. Corient Capital Partners LLC increased its position in shares of Alibaba Group by 3.8% during the 1st quarter. Corient Capital Partners LLC now owns 1,335 shares of the specialty retailer’s stock worth $302,000 after purchasing an additional 49 shares during the last quarter. TrinityPoint Wealth LLC increased its position in shares of Alibaba Group by 2.9% during the 1st quarter. TrinityPoint Wealth LLC now owns 1,771 shares of the specialty retailer’s stock worth $402,000 after purchasing an additional 50 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of Alibaba Group by 4.8% during the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,141 shares of the specialty retailer’s stock worth $259,000 after purchasing an additional 52 shares during the last quarter. Finally, Firethorn Wealth Partners LLC increased its position in shares of Alibaba Group by 3.6% during the 1st quarter. Firethorn Wealth Partners LLC now owns 1,501 shares of the specialty retailer’s stock worth $340,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 24.48% of the company’s stock.

NYSE:BABA traded up $3.39 on Monday, hitting $148.47. The stock had a trading volume of 424,824 shares, compared to its average volume of 19,855,268. The business’s fifty day moving average is $177.95 and its 200 day moving average is $206.70. The company has a market cap of $403.57 billion, a PE ratio of 17.69, a P/E/G ratio of 1.31 and a beta of 0.79. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.12. Alibaba Group Holding Limited has a 52 week low of $144.57 and a 52 week high of $319.32.

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

A number of brokerages have commented on BABA. Benchmark decreased their price objective on Alibaba Group from $282.00 to $277.00 and set a “buy” rating on the stock in a report on Wednesday, August 4th. Mizuho decreased their price objective on Alibaba Group from $285.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, August 4th. Needham & Company LLC began coverage on Alibaba Group in a research report on Wednesday, July 7th. They set a “buy” rating and a $330.00 target price for the company. Oppenheimer cut their target price on Alibaba Group from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, August 4th. Finally, Stifel Nicolaus cut their target price on Alibaba Group from $260.00 to $210.00 and set a “buy” rating for the company in a research report on Wednesday, September 15th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $297.55.

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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