ClariVest Asset Management LLC raised its stake in Alibaba Group (NYSE:BABA) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,467 shares of the specialty retailer’s stock after purchasing an additional 16,081 shares during the quarter. Alibaba Group makes up about 0.9% of ClariVest Asset Management LLC’s portfolio, making the stock its 24th biggest holding. ClariVest Asset Management LLC’s holdings in Alibaba Group were worth $54,414,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of BABA. MUFG Americas Holdings Corp bought a new position in shares of Alibaba Group during the 4th quarter worth approximately $101,000. Avestar Capital LLC bought a new position in shares of Alibaba Group during the 4th quarter worth approximately $102,000. Lenox Wealth Advisors Inc. boosted its stake in shares of Alibaba Group by 2,636.4% during the 4th quarter. Lenox Wealth Advisors Inc. now owns 602 shares of the specialty retailer’s stock worth $104,000 after acquiring an additional 580 shares during the period. Trustcore Financial Services LLC bought a new position in shares of Alibaba Group during the 4th quarter worth approximately $107,000. Finally, Riverhead Capital Management LLC bought a new position in shares of Alibaba Group during the 1st quarter worth approximately $110,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.
Several brokerages have recently commented on BABA. Stifel Nicolaus lifted their target price on Alibaba Group from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. KeyCorp reduced their target price on Alibaba Group from $228.00 to $219.00 and set an “overweight” rating for the company in a research note on Tuesday, April 10th. MKM Partners lifted their target price on Alibaba Group to $260.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Robert W. Baird lifted their target price on Alibaba Group to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Bank of America reiterated a “buy” rating and set a $220.00 target price on shares of Alibaba Group in a research note on Thursday, February 1st. One investment analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $216.01.
Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, May 4th. The specialty retailer reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.11). The company had revenue of $9.87 billion during the quarter, compared to analyst estimates of $9.36 billion. Alibaba Group had a net margin of 25.39% and a return on equity of 16.61%. During the same period in the prior year, the firm earned $0.63 earnings per share. equities research analysts forecast that Alibaba Group will post 5.38 EPS for the current fiscal year.
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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