Alibaba Group Holding Limited (NYSE:BABA) is Clearline Capital LP’s 6th Largest Position

Clearline Capital LP trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 294,849 shares of the specialty retailer’s stock after selling 69,000 shares during the quarter. Alibaba Group accounts for about 1.3% of Clearline Capital LP’s investment portfolio, making the stock its 6th largest holding. Clearline Capital LP’s holdings in Alibaba Group were worth $31,289,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Generate Investment Management Ltd purchased a new stake in shares of Alibaba Group during the third quarter valued at approximately $12,656,000. Nations Financial Group Inc. IA ADV lifted its stake in shares of Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after acquiring an additional 11,192 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Alibaba Group by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after purchasing an additional 50,000 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Alibaba Group by 7,734.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after purchasing an additional 266,361 shares in the last quarter. Finally, United Advisor Group LLC purchased a new stake in Alibaba Group during the 3rd quarter worth approximately $631,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Up 0.9 %

Shares of BABA stock opened at $87.37 on Monday. The firm has a market capitalization of $209.05 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35. 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 1 year low of $66.63 and a 1 year high of $117.82. The stock has a fifty day moving average of $98.45 and a two-hundred day moving average of $86.11.

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 analysts’ consensus estimates of $1.87 by $13.19. The firm had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. Alibaba Group’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.82 EPS. As a group, research analysts expect that Alibaba Group Holding Limited will post 8.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research note on Monday, October 7th. Benchmark restated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Finally, Sanford C. Bernstein boosted their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.07.

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.