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

Clearline Capital LP trimmed its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 294,849 shares of the specialty retailer’s stock after selling 69,000 shares during the quarter. Alibaba Group comprises 1.3% of Clearline Capital LP’s investment portfolio, making the stock its 6th biggest holding. Clearline Capital LP’s holdings in Alibaba Group were worth $31,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. First Command Advisory Services Inc. acquired a new stake in Alibaba Group in the second quarter valued at about $25,000. GPS Wealth Strategies Group LLC raised its stake in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group in the 2nd quarter valued at approximately $27,000. Concord Wealth Partners boosted its stake in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new position in Alibaba Group during the third quarter worth $36,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of research analyst reports. Loop Capital reissued a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Benchmark reissued a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, November 15th. Bank of America lifted their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Susquehanna lowered their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Finally, Truist Financial cut their price target 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. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Stock Performance

NYSE BABA opened at $87.37 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The company 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 business’s 50-day moving average price is $98.45 and its 200 day moving average price is $86.11. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82.

Alibaba Group (NYSE:BABA) last released its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same period last year, the company earned $1.82 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

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.