GMT Capital Corp Reduces Holdings in Alibaba Group Holding Limited $BABA

Key Points

• GMT Capital Corp reduced its holdings in Alibaba Group by 10.0%, selling 76,400 shares and now owns 691,000 shares, which constitute about 4.9% of its total investments.
• Several institutional investors, including American Century Companies Inc. and Causeway Capital Management LLC, increased their positions in Alibaba during the first quarter, showing ongoing confidence in the stock.
• Analysts' ratings for Alibaba Group vary, with a consensus rating of "Moderate Buy" and an average price target of $159.67, indicating potential upside for investors.

GMT Capital Corp cut its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 691,000 shares of the specialty retailer's stock after selling 76,400 shares during the quarter. Alibaba Group comprises approximately 4.9% of GMT Capital Corp's holdings, making the stock its 5th largest holding. GMT Capital Corp's holdings in Alibaba Group were worth $91,371,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Stony Point Capital LLC purchased a new stake in shares of Alibaba Group in the first quarter valued at $4,810,000. Vident Advisory LLC grew its holdings in Alibaba Group by 2.2% during the 1st quarter. Vident Advisory LLC now owns 21,516 shares of the specialty retailer's stock valued at $2,845,000 after purchasing an additional 458 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Alibaba Group in the 1st quarter worth about $4,800,000. Gordian Capital Singapore Pte Ltd lifted its stake in Alibaba Group by 580.1% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 23,682 shares of the specialty retailer's stock worth $3,132,000 after purchasing an additional 20,200 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of Alibaba Group during the first quarter valued at approximately $529,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Up 13.0%

NYSE:BABA traded up $15.54 during mid-day trading on Monday, reaching $135.11. The company's stock had a trading volume of 82,003,855 shares, compared to its average volume of 14,601,554. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $148.43. The stock has a fifty day moving average of $117.51 and a 200-day moving average of $121.72. The firm has a market capitalization of $322.14 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11.

Analysts Set New Price Targets

BABA has been the topic of several recent analyst reports. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target on the stock. in a report on Tuesday, June 24th. Loop Capital set a $176.00 target price on Alibaba Group in a research note on Friday, May 16th. Mizuho decreased their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. UBS Group reaffirmed a "buy" rating on shares of Alibaba Group in a research note on Sunday. Finally, Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Alibaba Group has a consensus rating of "Moderate Buy" and an average target price of $159.69.

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.