Alibaba Group Holding Limited (NYSE:BABA) Stock Position Reduced by Mount Lucas Management LP

Mount Lucas Management LP decreased its position in Alibaba Group Holding Limited (NYSE:BABA) by 73.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 200,000 shares of the specialty retailer’s stock after selling 550,000 shares during the period. Alibaba Group accounts for 7.2% of Mount Lucas Management LP’s holdings, making the stock its 3rd largest position. Mount Lucas Management LP’s holdings in Alibaba Group were worth $21,224,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its position in Alibaba Group by 462.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after purchasing an additional 139,134 shares during the period. Generate Investment Management Ltd purchased a new stake in Alibaba Group in the 3rd quarter valued at about $12,656,000. SRN Advisors LLC raised its holdings in Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after buying an additional 9,663 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in Alibaba Group by 63.9% during 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 buying an additional 11,192 shares during the period. Finally, Handelsbanken Fonder AB increased its position in shares of Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 2.2 %

BABA stock opened at $88.59 on Friday. The company’s 50 day moving average price is $98.18 and its 200 day moving average price is $85.63. The firm has a market capitalization of $212.12 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 0.41 and a beta of 0.35. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $2.47 EPS. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BABA has been the topic of several recent analyst reports. Susquehanna decreased their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Benchmark reissued a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday. Finally, Barclays lifted their target price on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $114.53.

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.