Hi Line Capital Management LLC Has $6.64 Million Stake in Alibaba Group Holding Limited (NYSE:BABA)

Hi Line Capital Management LLC decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 17.9% during the third quarter, HoldingsChannel.com reports. The fund owned 62,554 shares of the specialty retailer’s stock after selling 13,619 shares during the period. Alibaba Group makes up 3.3% of Hi Line Capital Management LLC’s holdings, making the stock its 12th largest position. Hi Line Capital Management LLC’s holdings in Alibaba Group were worth $6,638,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Primecap Management Co. CA grew its holdings in Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after buying an additional 1,074,175 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Alibaba Group by 1,392.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after buying an additional 5,715,155 shares during the last quarter. Discerene Group LP grew its holdings in Alibaba Group by 21.2% in the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock valued at $218,627,000 after buying an additional 529,237 shares during the last quarter. AMF Tjanstepension AB grew its holdings in Alibaba Group by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after buying an additional 178,999 shares during the last quarter. Finally, Eminence Capital LP grew its holdings in Alibaba Group by 9.0% in the 2nd quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after buying an additional 150,488 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Down 0.8 %

Shares of BABA opened at $97.93 on Friday. The stock has a fifty day moving average price of $95.38 and a two-hundred day moving average price of $83.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82. The company has a market cap of $234.54 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the previous year, the company posted $2.47 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts predict that Alibaba Group Holding Limited will post 8.08 EPS for the current fiscal year.

Analyst Ratings Changes

BABA has been the topic of a number of research analyst reports. Loop Capital reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Bank of America raised their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Sanford C. Bernstein raised their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $114.00.

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.