Hodges Capital Management Inc. Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Hodges Capital Management Inc. bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,580 shares of the specialty retailer’s stock, valued at approximately $380,000.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in shares of 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 purchasing an additional 5,715,155 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Alibaba Group by 3,180.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after buying an additional 3,740,150 shares during the period. Hhlr Advisors LTD. lifted its position in Alibaba Group by 64.1% in the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after buying an additional 3,448,152 shares during the last quarter. FMR LLC boosted its stake in Alibaba Group by 454.2% during the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after buying an additional 2,959,954 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Alibaba Group by 9,205.2% in the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on BABA shares. Truist Financial dropped their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Robert W. Baird upped their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a research note on Monday, October 7th. Sanford C. Bernstein boosted their price objective on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Finally, Susquehanna decreased their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Price Performance

NYSE BABA opened at $85.93 on Monday. The company has a market cap of $205.61 billion, a PE ratio of 17.43, a P/E/G ratio of 0.42 and a beta of 0.30. The firm’s 50 day moving average price is $97.09 and its 200-day moving average price is $86.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82.

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, beating the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.82 EPS. Sell-side analysts forecast that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

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.