Altimeter Capital Management LP Acquires New Shares in Alibaba Group Holding Limited $BABA

Key Points

• Altimeter Capital Management LP has acquired a significant position in Alibaba Group Holding Limited, purchasing 540,370 shares valued at approximately $71.45 million, making it the firm's 15th largest holding.
• Hedge funds and institutional investors collectively own 13.47% of Alibaba's stock, with several firms increasing their positions during the 4th quarter.
• Wall Street analysts have a consensus price target of $163.60 on Alibaba, with the stock rated as a "Moderate Buy" by twelve equity research analysts.

Altimeter Capital Management LP bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 540,370 shares of the specialty retailer's stock, valued at approximately $71,453,000. Alibaba Group accounts for 1.4% of Altimeter Capital Management LP's holdings, making the stock its 15th biggest position.

Other hedge funds have also modified their holdings of the company. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group during the 1st quarter valued at about $26,000. Summit Securities Group LLC grew its stake in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 196 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Alibaba Group during the 1st quarter valued at approximately $31,000. Finally, Inlight Wealth Management LLC acquired a new stake in Alibaba Group during the 1st quarter valued at approximately $31,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Loop Capital set a $176.00 price objective on Alibaba Group in a research note on Friday, May 16th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Morgan Stanley set a $180.00 price objective on Alibaba Group in a research note on Wednesday, May 14th. Sanford C. Bernstein restated an "outperform" rating and set a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. Finally, Citigroup raised their price objective on Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $163.53.

Alibaba Group Stock Performance

Shares of BABA traded up $4.57 during mid-day trading on Friday, hitting $135.49. The stock had a trading volume of 19,166,179 shares, compared to its average volume of 17,007,000. The company has a market cap of $323.03 billion, a PE ratio of 15.75, a PEG ratio of 1.83 and a beta of 0.11. The company's fifty day simple moving average is $119.59 and its two-hundred day simple moving average is $122.11. The company has a quick ratio of 1.55, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $148.43.

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.