Regal Partners Ltd Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

Regal Partners Ltd bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 18,032 shares of the specialty retailer’s stock, valued at approximately $1,914,000.

Several other hedge funds have also recently added to or reduced their stakes in BABA. Venturi Wealth Management LLC increased its position in shares of Alibaba Group by 6.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after purchasing an additional 121 shares in the last quarter. ICA Group Wealth Management LLC raised its position in Alibaba Group by 14.6% in the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 128 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Alibaba Group by 4.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after purchasing an additional 139 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in Alibaba Group by 3.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after purchasing an additional 143 shares during the last quarter. Finally, Concord Wealth Partners lifted its holdings in Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Up 0.2 %

Shares of NYSE:BABA opened at $91.99 on Thursday. The stock has a market cap of $220.31 billion, a PE ratio of 24.08, a P/E/G ratio of 0.41 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The business has a 50 day moving average of $97.68 and a 200-day moving average of $85.39.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same period in the prior year, the firm posted $2.47 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BABA. Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research note on Monday, October 7th. Susquehanna cut their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Barclays upped their price target on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.53.

About Alibaba Group

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.