Accent Capital Management LLC Cuts Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Accent Capital Management LLC trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 50.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,500 shares of the specialty retailer’s stock after selling 1,500 shares during the period. Accent Capital Management LLC’s holdings in Alibaba Group were worth $159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after acquiring an additional 139,134 shares during the last quarter. Generate Investment Management Ltd acquired a new position in Alibaba Group in the 3rd quarter valued at $12,656,000. SRN Advisors LLC lifted 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 purchasing an additional 9,663 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Alibaba Group by 63.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after purchasing an additional 11,192 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings 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 worth $87,327,000 after buying an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BABA. Sanford C. Bernstein boosted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. StockNews.com cut Alibaba Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Loop Capital reissued a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, Truist Financial cut their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.53.

Alibaba Group Stock Performance

Shares of BABA stock opened at $88.59 on Friday. Alibaba Group Holding Limited has a one year low of $66.63 and a one year 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. The firm’s 50 day moving average price is $98.18 and its 200-day moving average price is $85.63. The firm has a market cap of $212.12 billion, a P/E ratio of 17.97, a P/E/G ratio of 0.39 and a beta of 0.35.

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

About Alibaba Group

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.