Beck Bode LLC Buys New Stake in Alibaba Group Holding Limited $BABA

Key Points

• Beck Bode LLC has acquired 61,016 shares of Alibaba Group Holding Limited, worth approximately $8.07 million, which represents 1.5% of its total holdings.
• Several institutional investors, including Mirae Asset Global Investments and Goldman Sachs, have significantly increased their stakes in Alibaba Group, reflecting growing interest in the company.
• Alibaba Group's stock has seen a 1.5% decline recently, trading at around $122.29, with a current market cap of $291.65 billion.

Beck Bode LLC purchased a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 61,016 shares of the specialty retailer's stock, valued at approximately $8,068,000. Alibaba Group makes up about 1.5% of Beck Bode LLC's portfolio, making the stock its 26th biggest holding.

A number of other hedge funds have also recently bought and sold shares of BABA. American Century Companies Inc. raised its position in shares of Alibaba Group by 52.1% in the 1st quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock valued at $303,215,000 after purchasing an additional 785,494 shares in the last quarter. Causeway Capital Management LLC increased its stake in shares of Alibaba Group by 42.6% in the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer's stock worth $179,305,000 after buying an additional 404,842 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Alibaba Group in the first quarter valued at $4,074,000. KMG Fiduciary Partners LLC bought a new position in Alibaba Group during the 1st quarter valued at $1,948,000. Finally, Avaii Wealth Management LLC acquired a new position in Alibaba Group during the 1st quarter worth $563,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Performance

Shares of BABA traded up $15.54 during midday trading on Friday, hitting $135.11. 82,003,855 shares of the stock traded hands, compared to its average volume of 11,114,512. The business's 50 day moving average price is $117.51 and its two-hundred day moving average price is $121.69. The firm has a market capitalization of $322.22 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $148.43.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BABA. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Benchmark restated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Mizuho reduced their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Finally, Robert W. Baird reduced their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.