Private Management Group Inc. Sells 40,189 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Private Management Group Inc. reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 12.4% during the fourth quarter, HoldingsChannel reports. The fund owned 284,037 shares of the specialty retailer’s stock after selling 40,189 shares during the quarter. Private Management Group Inc.’s holdings in Alibaba Group were worth $24,083,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Concord Wealth Partners lifted its stake in shares of Alibaba Group by 155.0% during the 3rd 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. Decker Retirement Planning Inc. bought a new stake in Alibaba Group during the 4th quarter valued at $31,000. Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group during the third quarter worth $36,000. Assetmark Inc. boosted its holdings in shares of Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 275 shares during the period. Finally, Kieckhefer Group LLC purchased a new position in shares of Alibaba Group in the fourth quarter valued at $55,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

BABA opened at $99.30 on Thursday. The stock has a market capitalization of $236.21 billion, a P/E ratio of 20.14, a PEG ratio of 0.42 and a beta of 0.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a 12-month low of $68.36 and a 12-month high of $117.82. The stock has a 50-day moving average price of $87.19 and a 200-day moving average price of $89.26.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates 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 business earned $1.82 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on BABA. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Citigroup raised their price objective on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Bank of America upped their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird raised their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com cut shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average target price of $115.13.

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.