Prospect Financial Services LLC Decreases Stake in Alibaba Group Holding Limited (NYSE:BABA)

Prospect Financial Services LLC decreased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 32.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,508 shares of the specialty retailer’s stock after selling 5,535 shares during the quarter. Prospect Financial Services LLC’s holdings in Alibaba Group were worth $1,221,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BABA. ICA Group Wealth Management LLC grew its stake in Alibaba Group by 14.6% during the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after acquiring an additional 128 shares in the last quarter. North Star Investment Management Corp. grew its holdings in Alibaba Group by 11.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after buying an additional 154 shares in the last quarter. EPIQ Capital Group LLC increased its stake in shares of Alibaba Group by 0.3% in the 2nd quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after acquiring an additional 157 shares during the last quarter. Evolution Wealth Advisors LLC raised its holdings in shares of Alibaba Group by 4.1% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock worth $288,000 after acquiring an additional 158 shares during the period. Finally, WNY Asset Management LLC boosted its position in shares of Alibaba Group by 2.8% during the 1st quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock valued at $436,000 after acquiring an additional 164 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

NYSE BABA opened at $101.85 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market cap of $258.44 billion, a P/E ratio of 23.74, a P/E/G ratio of 0.55 and a beta of 0.35. The stock has a 50-day moving average of $90.97 and a two-hundred day moving average of $81.70. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82.

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 firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.47 earnings per share. As a group, analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BABA. Robert W. Baird raised their price objective on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Loop Capital reissued a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.63.

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.