Legato Capital Management LLC Acquires 9,447 Shares of Alibaba Group Holding Ltd (NYSE:BABA)

Legato Capital Management LLC lifted its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 76.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 21,791 shares of the specialty retailer’s stock after purchasing an additional 9,447 shares during the period. Alibaba Group accounts for about 0.9% of Legato Capital Management LLC’s portfolio, making the stock its 22nd largest position. Legato Capital Management LLC’s holdings in Alibaba Group were worth $4,701,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Alibaba Group by 121.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 100,508 shares of the specialty retailer’s stock valued at $21,318,000 after acquiring an additional 55,023 shares during the last quarter. Vigilare Wealth Management bought a new position in Alibaba Group in the fourth quarter valued at about $580,000. Bank of New York Mellon Corp boosted its holdings in Alibaba Group by 7.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,860,254 shares of the specialty retailer’s stock valued at $818,760,000 after acquiring an additional 259,492 shares during the last quarter. Lakewood Capital Management LP acquired a new position in Alibaba Group in the fourth quarter valued at about $46,662,000. Finally, Visionary Wealth Advisors acquired a new position in Alibaba Group in the fourth quarter valued at about $230,000. Institutional investors own 47.10% of the company’s stock.

BABA stock traded up $4.08 during mid-day trading on Friday, reaching $246.58. The company had a trading volume of 9,412,055 shares, compared to its average volume of 18,214,634. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a 50 day simple moving average of $224.70 and a two-hundred day simple moving average of $211.11. The company has a market capitalization of $627.40 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 2.25 and a beta of 1.56. Alibaba Group Holding Ltd has a 52 week low of $151.85 and a 52 week high of $268.00.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, May 22nd. The specialty retailer reported $9.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $8.61. The firm had revenue of $114.31 billion during the quarter, compared to the consensus estimate of $108.31 billion. Alibaba Group had a return on equity of 14.56% and a net margin of 29.16%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period last year, the company earned $8.57 earnings per share. On average, equities analysts predict that Alibaba Group Holding Ltd will post 6.89 EPS for the current year.

BABA has been the topic of several analyst reports. Mizuho reissued a “buy” rating and issued a $260.00 target price on shares of Alibaba Group in a research note on Tuesday, June 9th. KeyCorp increased their target price on Alibaba Group from $255.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada increased their target price on Alibaba Group from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. Raymond James cut their target price on Alibaba Group from $310.00 to $290.00 and set a “strong-buy” rating on the stock in a research note on Friday, April 17th. Finally, Citigroup reissued a “buy” rating and issued a $316.00 target price on shares of Alibaba Group in a research note on Friday, July 10th. Three research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $255.26.

Alibaba Group Profile

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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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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