Kamunting Street Capital Management L.P. Invests $9.51 Million in Alibaba Group Holding Limited (NYSE:BABA)

Kamunting Street Capital Management L.P. acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 112,192 shares of the specialty retailer's stock, valued at approximately $9,513,000. Alibaba Group accounts for approximately 8.2% of Kamunting Street Capital Management L.P.'s holdings, making the stock its 5th largest holding.

Other hedge funds also recently made changes to their positions in the company. Decker Retirement Planning Inc. bought a new position in shares of Alibaba Group during the fourth quarter worth approximately $31,000. Sierra Ocean LLC bought a new position in Alibaba Group during the 4th quarter worth $32,000. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Alibaba Group by 59.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer's stock worth $46,000 after buying an additional 200 shares in the last quarter. Redwood Park Advisors LLC bought a new stake in shares of Alibaba Group in the fourth quarter valued at about $52,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Alibaba Group in the fourth quarter valued at about $55,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of analyst reports. Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $104.00 to $165.00 in a research report on Tuesday, February 25th. Arete Research raised Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. JPMorgan Chase & Co. increased their target price on Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Robert W. Baird boosted their price target on Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley upgraded shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $100.00 to $180.00 in a research note on Monday, February 24th. Fourteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $150.36.

Alibaba Group Trading Up 0.9 %

Alibaba Group stock traded up $1.06 during trading hours on Friday, hitting $120.35. The stock had a trading volume of 9,273,861 shares, compared to its average volume of 20,684,884. The stock has a market cap of $287.60 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The business's 50 day simple moving average is $126.60 and its 200-day simple moving average is $104.78. Alibaba Group Holding Limited has a one year low of $71.80 and a one year high of $148.43.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The business had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. On average, equities analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Alibaba Group 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.