Regal Partners Ltd Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Regal Partners Ltd purchased a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 18,032 shares of the specialty retailer's stock, valued at approximately $1,914,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC grew its holdings in shares of Alibaba Group by 6.0% during the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer's stock worth $228,000 after buying an additional 121 shares in the last quarter. ICA Group Wealth Management LLC raised its position in Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer's stock valued at $72,000 after purchasing an additional 128 shares during the period. Cornerstone Wealth Management LLC grew its position in Alibaba Group by 4.3% in the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer's stock valued at $361,000 after acquiring an additional 139 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Alibaba Group by 3.0% in the third quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer's stock valued at $515,000 after purchasing an additional 143 shares during the last quarter. Finally, Concord Wealth Partners increased its holdings in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Performance

Shares of BABA stock traded down $1.50 on Thursday, hitting $90.50. 8,648,359 shares of the stock were exchanged, compared to its average volume of 17,597,469. The firm has a market capitalization of $216.75 billion, a PE ratio of 23.77, a P/E/G ratio of 0.41 and a beta of 0.35. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm's 50 day moving average is $97.87 and its two-hundred day moving average is $85.44. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BABA. StockNews.com lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Tuesday. Benchmark reissued a "buy" rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Loop Capital restated a "buy" rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Morgan Stanley reaffirmed an "equal weight" rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Macquarie upgraded shares of Alibaba Group from a "neutral" rating to an "outperform" rating and set a $145.00 target price on the stock in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $114.53.

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.