Causeway Capital Management LLC boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 42.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,356,010 shares of the specialty retailer's stock after buying an additional 404,842 shares during the quarter. Alibaba Group accounts for approximately 3.7% of Causeway Capital Management LLC's portfolio, making the stock its 4th largest holding. Causeway Capital Management LLC owned 0.06% of Alibaba Group worth $179,305,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in shares of Alibaba Group by 52.1% in the first 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 during the last quarter. WCM Investment Management LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $4,074,000. KMG Fiduciary Partners LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $1,948,000. Avaii Wealth Management LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $563,000. Finally, Fiduciary Alliance LLC grew its position in shares of Alibaba Group by 18.3% in the first quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after purchasing an additional 18,230 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.
Alibaba Group Stock Performance
NYSE:BABA opened at $124.35 on Tuesday. Alibaba Group Holding Limited has a fifty-two week low of $79.21 and a fifty-two week high of $148.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The company has a market cap of $296.55 billion, a P/E ratio of 16.69, a P/E/G ratio of 1.81 and a beta of 0.17. The firm's 50 day moving average is $116.58 and its two-hundred day moving average is $121.45.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on BABA. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Benchmark restated a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Mizuho decreased their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research report on Wednesday, May 14th. Finally, Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Alibaba Group currently has a consensus rating of "Moderate Buy" and an average target price of $159.67.
Check Out Our Latest Analysis on Alibaba Group
About Alibaba Group
(
Free Report)
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.
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