Kamunting Street Capital Management L.P. Has $2.65 Million Position in Alibaba Group Holding Limited $BABA

Key Points

• Kamunting Street Capital Management L.P. reduced its position in Alibaba Group by 82.2%, owning 20,000 shares after selling 92,192 shares, representing 1.8% of its portfolio.
• Eleven equities research analysts rate Alibaba as a Moderate Buy, with an average price target of $159.67, despite some rating downgrades from various firms.
• As of the last trading session, Alibaba shares were priced at $122.85, showing a 4.0% increase in value.

Kamunting Street Capital Management L.P. lessened its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 82.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the specialty retailer's stock after selling 92,192 shares during the period. Alibaba Group accounts for about 1.8% of Kamunting Street Capital Management L.P.'s portfolio, making the stock its 12th biggest holding. Kamunting Street Capital Management L.P.'s holdings in Alibaba Group were worth $2,645,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. North Ridge Wealth Advisors Inc. bought a new stake in shares of Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC grew its position in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after buying an additional 59,000 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after buying an additional 196 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Alibaba Group in the 1st quarter valued at about $31,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Alibaba Group in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Robert W. Baird reduced their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a research report on Tuesday, June 24th. Finally, Barclays cut 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. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $159.67.

Alibaba Group Stock Up 4.0%

Shares of Alibaba Group stock opened at $122.8530 on Friday. The stock's 50-day moving average is $116.41 and its 200 day moving average is $121.16. The firm has a market cap of $292.98 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.81 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. Alibaba Group Holding Limited has a one year low of $79.21 and a one year high of $148.43.

Alibaba Group Company Profile

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.

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.