Mount Lucas Management LP Has $21.22 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Mount Lucas Management LP cut its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 73.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 200,000 shares of the specialty retailer's stock after selling 550,000 shares during the period. Alibaba Group makes up approximately 7.2% of Mount Lucas Management LP's investment portfolio, making the stock its 3rd largest position. Mount Lucas Management LP's holdings in Alibaba Group were worth $21,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Concord Wealth Partners grew its holdings in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group during the second quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Alibaba Group in the 3rd quarter valued at about $36,000. First Command Advisory Services Inc. acquired a new position in shares of Alibaba Group in the 2nd quarter valued at approximately $25,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 209 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BABA. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an "overweight" rating in a research note on Friday, August 16th. Sanford C. Bernstein lifted their target price on Alibaba Group from $80.00 to $85.00 and gave the company a "market perform" rating in a research report on Friday, August 16th. Truist Financial dropped their target price on shares of Alibaba Group from $110.00 to $100.00 and set a "buy" rating for the company in a report on Friday, August 16th. Morgan Stanley reaffirmed an "equal weight" rating and set a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Finally, Jefferies Financial Group restated a "buy" rating and issued a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $114.53.

Alibaba Group Trading Down 2.2 %

Shares of BABA stock traded down $1.99 on Friday, hitting $88.59. The company had a trading volume of 31,018,266 shares, compared to its average volume of 14,785,027. The stock's 50-day moving average is $98.18 and its two-hundred day moving average is $85.63. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $212.12 billion, a P/E ratio of 17.97, a P/E/G ratio of 0.39 and a beta of 0.35. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82.

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the business earned $2.47 EPS. The company's revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

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.