Ardmore Road Asset Management LP Takes Position in Alibaba Group Holding Limited $BABA

Key Points

• Ardmore Road Asset Management LP has acquired a new stake in Alibaba Group, purchasing 150,000 shares valued at approximately $19.83 million, which constitutes around 2.0% of its investment portfolio.
• Analyst ratings on Alibaba show mixed signals, with ten analysts rating the stock as a Buy and a consensus target price of $159.67, despite recent downgrades from Arete Research and Barclays.
• Alibaba's stock price has risen by 13.0%, with a current market price of $135.11, while the stock has a P/E ratio of 18.14 and a market capitalization of $322.22 billion.

Ardmore Road Asset 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 Form 13F filing with the SEC. The fund bought 150,000 shares of the specialty retailer's stock, valued at approximately $19,834,000. Alibaba Group accounts for 2.0% of Ardmore Road Asset Management LP's investment portfolio, making the stock its 21st biggest position.

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

Alibaba Group Stock Up 13.0%

Alibaba Group stock traded up $15.54 during mid-day trading on Friday, hitting $135.11. 82,003,855 shares of the company's stock were exchanged, compared to its average volume of 14,601,554. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock has a market cap of $322.14 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.99 and a beta of 0.11. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $148.43. The stock has a 50 day moving average of $117.51 and a two-hundred day moving average of $121.72.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BABA shares. Mizuho cut their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on Alibaba Group in a report on Wednesday, May 14th. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Finally, Barclays cut their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of "Moderate Buy" and a consensus price target of $159.67.

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.