Alden Global Capital LLC Cuts Stake in Alibaba Group Holding Limited $BABA

Key Points

• Alden Global Capital LLC sold 31,610 shares of Alibaba Group (NYSE: BABA), reducing its stake by 43.4% and leaving it with 41,282 shares, which are now worth approximately $5.46 million.
• Other hedge funds, including North Ridge Wealth Advisors and Summit Securities Group, have also made significant changes to their positions in Alibaba during the first quarter, indicating ongoing interest from institutional investors.
• Analysts have mixed projections for Alibaba's stock, with target prices ranging from $145.00 to $180.00, and a consensus rating of "Moderate Buy" based on twelve "Buy" ratings and two "Hold" ratings.

Alden Global Capital LLC lowered its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 43.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,282 shares of the specialty retailer's stock after selling 31,610 shares during the quarter. Alibaba Group comprises 5.8% of Alden Global Capital LLC's portfolio, making the stock its 8th largest position. Alden Global Capital LLC's holdings in Alibaba Group were worth $5,459,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the business. Accent Capital Management LLC increased its position in shares of Alibaba Group by 5.5% during the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after acquiring an additional 82 shares during the last quarter. Greenleaf Trust increased its position in shares of Alibaba Group by 1.0% during the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after acquiring an additional 85 shares during the last quarter. Marcum Wealth LLC increased its position in shares of Alibaba Group by 3.2% during the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after acquiring an additional 86 shares during the last quarter. Principal Securities Inc. increased its position in shares of Alibaba Group by 0.5% during the first quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after acquiring an additional 89 shares during the last quarter. Finally, Institute for Wealth Management LLC. increased its position in shares of Alibaba Group by 1.1% during the first quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after acquiring an additional 93 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

BABA stock traded up $4.57 during midday trading on Friday, reaching $135.49. The company had a trading volume of 19,166,179 shares, compared to its average volume of 17,007,000. The company has a quick ratio of 1.55, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $119.59 and a 200 day moving average price of $122.11. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $148.43. The firm has a market capitalization of $323.03 billion, a PE ratio of 15.75, a P/E/G ratio of 1.83 and a beta of 0.11.

Analyst Ratings Changes

BABA has been the topic of a number of analyst reports. Citigroup lifted their target price on Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays dropped their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Mizuho lifted their price target on Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday. Robert W. Baird lifted their price target on Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $163.53.

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.