GQG Partners LLC Purchases New Stake in Alibaba Group Holding Limited (NYSE:BABA)

GQG Partners LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, Holdings Channel reports. The firm purchased 3,321,779 shares of the specialty retailer’s stock, valued at approximately $753,169,000. Alibaba Group makes up about 2.2% of GQG Partners LLC’s portfolio, making the stock its 20th biggest position.

A number of other large investors have also recently bought and sold shares of BABA. Camden National Bank raised its holdings in Alibaba Group by 56.8% in the 4th quarter. Camden National Bank now owns 27,238 shares of the specialty retailer’s stock worth $6,339,000 after purchasing an additional 9,866 shares in the last quarter. Flossbach Von Storch AG raised its holdings in Alibaba Group by 91.0% in the 2nd quarter. Flossbach Von Storch AG now owns 642,350 shares of the specialty retailer’s stock worth $145,672,000 after purchasing an additional 306,055 shares in the last quarter. Bank of Montreal Can raised its holdings in Alibaba Group by 9.5% in the 2nd quarter. Bank of Montreal Can now owns 2,731,545 shares of the specialty retailer’s stock worth $811,269,000 after purchasing an additional 236,236 shares in the last quarter. Clearline Capital LP bought a new position in Alibaba Group in the 1st quarter worth $1,837,000. Finally, XTX Topco Ltd bought a new position in Alibaba Group in the 1st quarter worth $624,000. Institutional investors own 24.48% of the company’s stock.

Shares of NYSE BABA traded down $2.38 during trading on Thursday, reaching $165.02. 313,665 shares of the company traded hands, compared to its average volume of 20,175,994. The firm has a 50 day simple moving average of $165.26 and a 200-day simple moving average of $199.57. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $448.55 billion, a PE ratio of 20.41, a P/E/G ratio of 1.31 and a beta of 0.79. Alibaba Group Holding Limited has a 52-week low of $138.43 and a 52-week high of $319.32.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Monday, August 2nd. The specialty retailer reported $16.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $14.86. The firm had revenue of $205.74 billion for the quarter, compared to the consensus estimate of $208.67 billion. Alibaba Group had a net margin of 19.25% and a return on equity of 12.92%. The business’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the firm posted $14.82 EPS. As a group, research analysts predict that Alibaba Group Holding Limited will post 8.3 EPS for the current year.

Several research analysts have commented on BABA shares. Morgan Stanley decreased their price objective on shares of Alibaba Group from $300.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 6th. They noted that the move was a valuation call. DZ Bank lowered shares of Alibaba Group from a “buy” rating to a “sell” rating and set a $192.00 price objective for the company. in a report on Tuesday, July 27th. Bank of America decreased their price target on shares of Alibaba Group from $285.00 to $254.00 and set a “buy” rating for the company in a research note on Wednesday, September 29th. Raymond James lowered shares of Alibaba Group from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $300.00 to $240.00 in a research note on Friday, October 1st. Finally, Needham & Company LLC started coverage on shares of Alibaba Group in a research note on Wednesday, July 7th. They issued a “buy” rating and a $330.00 price target for the company. Three analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $280.44.

About Alibaba Group

Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.

Further Reading: Yield Curve

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

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