Pzena Investment Management LLC Has $6.93 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Pzena Investment Management LLC reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 65,310 shares of the specialty retailer’s stock after selling 315 shares during the quarter. Pzena Investment Management LLC’s holdings in Alibaba Group were worth $6,931,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in shares of Alibaba Group during the first quarter worth approximately $312,000. CANADA LIFE ASSURANCE Co lifted 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 worth $12,275,000 after buying an additional 139,134 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Alibaba Group during the first quarter worth approximately $87,000. CreativeOne Wealth LLC acquired a new position in shares of Alibaba Group during the first quarter worth approximately $853,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Alibaba Group by 17.6% during the first quarter. Advisors Asset Management Inc. now owns 3,387 shares of the specialty retailer’s stock worth $245,000 after buying an additional 506 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Down 0.4 %

Shares of Alibaba Group stock opened at $86.77 on Thursday. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The business has a 50-day moving average of $98.45 and a two-hundred day moving average of $85.82. The company has a market capitalization of $207.76 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 0.39 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The firm had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.23%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 EPS. As a group, equities analysts predict that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research report on Monday, October 7th. Loop Capital restated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Barclays lowered their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday. Sanford C. Bernstein upped their price target on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

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.