Absolute Gestao de Investimentos Ltda. Makes New $271,000 Investment in Alibaba Group Holding Limited (NYSE:BABA)

Absolute Gestao de Investimentos Ltda. bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,770 shares of the specialty retailer’s stock, valued at approximately $271,000. Alibaba Group makes up about 0.1% of Absolute Gestao de Investimentos Ltda.’s portfolio, making the stock its 25th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. AlTi Global Inc. increased its position in Alibaba Group by 10.4% during the 2nd quarter. AlTi Global Inc. now owns 16,114 shares of the specialty retailer’s stock worth $1,170,000 after purchasing an additional 1,520 shares during the period. Alden Global Capital LLC grew its holdings in Alibaba Group by 32.0% during the second quarter. Alden Global Capital LLC now owns 112,263 shares of the specialty retailer’s stock worth $8,083,000 after acquiring an additional 27,211 shares during the period. Caxton Associates LP acquired a new position in Alibaba Group during the second quarter worth $359,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Alibaba Group in the second quarter valued at $38,000. Finally, Point72 Hong Kong Ltd boosted its position in shares of Alibaba Group by 9.2% during the 2nd quarter. Point72 Hong Kong Ltd now owns 673,900 shares of the specialty retailer’s stock worth $48,521,000 after purchasing an additional 56,736 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Up 7.9 %

Shares of BABA opened at $97.22 on Wednesday. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $97.50. The stock has a fifty day moving average of $81.40 and a two-hundred day moving average of $77.95. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $233.99 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 0.46 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.47 EPS. As a group, analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Wall Street Analyst Weigh In

BABA has been the subject of several recent analyst reports. Susquehanna reduced their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Robert W. Baird upped their price target on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Finally, Loop Capital reissued a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group 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.