Frontier Investment Mgmt Co. lessened its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 70.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,023 shares of the specialty retailer’s stock after selling 4,750 shares during the period. Frontier Investment Mgmt Co.’s holdings in Alibaba Group were worth $277,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in Alibaba Group by 8.9% during the second quarter. Bank of New York Mellon Corp now owns 2,811,366 shares of the specialty retailer’s stock worth $521,591,000 after purchasing an additional 229,005 shares in the last quarter. First Hawaiian Bank purchased a new stake in Alibaba Group during the third quarter worth $180,000. Bristlecone Advisors LLC boosted its position in Alibaba Group by 52.1% during the third quarter. Bristlecone Advisors LLC now owns 5,500 shares of the specialty retailer’s stock worth $906,000 after purchasing an additional 1,885 shares in the last quarter. Truvestments Capital LLC boosted its position in Alibaba Group by 39.3% during the third quarter. Truvestments Capital LLC now owns 1,667 shares of the specialty retailer’s stock worth $275,000 after purchasing an additional 470 shares in the last quarter. Finally, Leavell Investment Management Inc. purchased a new stake in Alibaba Group during the third quarter worth $437,000. 39.11% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on BABA. Argus reiterated a “buy” rating on shares of Alibaba Group in a research report on Friday, February 1st. Oppenheimer boosted their target price on Alibaba Group from $185.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, January 31st. Barclays reiterated an “overweight” rating and set a $200.00 target price (up from $195.00) on shares of Alibaba Group in a research report on Thursday, January 31st. KeyCorp reiterated an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alibaba Group in a research report on Thursday, January 31st. Finally, Macquarie reissued an “outperform” rating and issued a $224.00 price target (up from $220.00) on shares of Alibaba Group in a report on Thursday, January 31st. Two investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $211.09.
Alibaba Group (NYSE:BABA) last released its earnings results on Wednesday, January 30th. The specialty retailer reported $12.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $10.83. The firm had revenue of $117.28 billion during the quarter, compared to analyst estimates of $118.52 billion. Alibaba Group had a return on equity of 12.44% and a net margin of 19.87%. The business’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 earnings per share. Research analysts predict that Alibaba Group Holding Ltd will post 3.65 EPS for the current year.
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About Alibaba Group
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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