AI Squared Management Ltd Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

AI Squared Management Ltd purchased a new position in Alibaba Group Holding Limited (NYSE:BABA) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 143,600 shares of the specialty retailer’s stock, valued at approximately $11,130,000. Alibaba Group makes up approximately 14.2% of AI Squared Management Ltd’s investment portfolio, making the stock its 3rd largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC purchased a new stake in Alibaba Group in the third quarter valued at approximately $26,000. GPS Wealth Strategies Group LLC raised its position in shares of Alibaba Group by 116.7% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 175 shares in the last quarter. Baystate Wealth Management LLC lifted its holdings in shares of Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 216 shares during the last quarter. First Command Advisory Services Inc. bought a new position in Alibaba Group in the third quarter valued at $30,000. Finally, Milestone Investment Advisors LLC purchased a new stake in Alibaba Group during the third quarter valued at about $31,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 1.3 %

Shares of BABA stock traded up $0.99 during mid-day trading on Thursday, reaching $79.45. 8,066,473 shares of the company’s stock traded hands, compared to its average volume of 17,723,066. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $73.60 and its 200-day moving average price is $75.11. The company has a market cap of $201.60 billion, a P/E ratio of 14.65 and a beta of 0.44. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $102.50.

Alibaba Group (NYSE:BABA) last announced its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The business had revenue of $260.35 billion for the quarter, compared to the consensus estimate of $260.26 billion. During the same period in the prior year, the business posted $2.44 EPS. Alibaba Group’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts expect that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BABA shares. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Wednesday, April 10th. Barclays reduced their target price on shares of Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a report on Friday, January 12th. Robert W. Baird decreased their price objective on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. The Goldman Sachs Group reduced their price target on Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $85.00 target price on shares of Alibaba Group in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.49.

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.