Concentric Capital Strategies LP Boosts Stake in Alibaba Group Holding Limited (NYSE:BABA)

Concentric Capital Strategies LP increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 310.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,077 shares of the specialty retailer’s stock after buying an additional 60,579 shares during the quarter. Concentric Capital Strategies LP’s holdings in Alibaba Group were worth $8,498,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. TRUE Private Wealth Advisors lifted its stake in Alibaba Group by 3.7% during the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock valued at $331,000 after acquiring an additional 112 shares during the period. Venturi Wealth Management LLC lifted its position in Alibaba Group by 6.0% during the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after purchasing an additional 121 shares during the period. ICA Group Wealth Management LLC boosted its holdings in Alibaba Group by 14.6% in the second 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 position in Alibaba Group by 4.3% during the 3rd 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 period. Finally, First Trust Direct Indexing L.P. raised its stake in shares of Alibaba Group by 3.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock valued at $515,000 after buying an additional 143 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

Shares of NYSE:BABA opened at $87.37 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The firm has a market capitalization of $209.05 billion, a PE ratio of 17.72, a P/E/G ratio of 0.43 and a beta of 0.35. The business’s 50 day moving average price is $98.45 and its 200-day moving average price is $86.11.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.82 EPS. As a group, equities research analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BABA. Sanford C. Bernstein upped their target price on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Bank of America raised their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.07.

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.