Picton Mahoney Asset Management Increases Stake in Alibaba Group Holding Ltd (BABA)

Picton Mahoney Asset Management lifted its position in Alibaba Group Holding Ltd (NYSE:BABA) by 77.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,000 shares of the specialty retailer’s stock after acquiring an additional 4,800 shares during the period. Picton Mahoney Asset Management’s holdings in Alibaba Group were worth $1,813,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BABA. RNC Capital Management LLC increased its position in Alibaba Group by 16.9% during the 2nd quarter. RNC Capital Management LLC now owns 1,905 shares of the specialty retailer’s stock valued at $353,000 after buying an additional 275 shares in the last quarter. Viridian Ria LLC increased its position in Alibaba Group by 5.2% during the 2nd quarter. Viridian Ria LLC now owns 5,749 shares of the specialty retailer’s stock valued at $1,067,000 after buying an additional 285 shares in the last quarter. Wagner Bowman Management Corp increased its position in Alibaba Group by 20.9% during the 2nd quarter. Wagner Bowman Management Corp now owns 1,680 shares of the specialty retailer’s stock valued at $311,000 after buying an additional 290 shares in the last quarter. Adviser Investments LLC increased its position in Alibaba Group by 16.5% during the 2nd quarter. Adviser Investments LLC now owns 2,060 shares of the specialty retailer’s stock valued at $382,000 after buying an additional 292 shares in the last quarter. Finally, Fiduciary Trust Co. increased its position in Alibaba Group by 7.4% during the 2nd quarter. Fiduciary Trust Co. now owns 4,250 shares of the specialty retailer’s stock valued at $789,000 after buying an additional 294 shares in the last quarter. 38.76% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have commented on BABA. Nomura cut their target price on Alibaba Group from $224.00 to $202.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. KeyCorp set a $203.00 target price on Alibaba Group and gave the company an “overweight” rating in a research note on Monday, November 5th. UBS Group set a $245.00 target price on Alibaba Group and gave the company a “buy” rating in a research note on Friday, August 24th. Raymond James cut their target price on Alibaba Group from $300.00 to $280.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $256.00 target price on shares of Alibaba Group in a research note on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $216.02.

BABA stock opened at $144.85 on Friday. The firm has a market capitalization of $390.58 billion, a PE ratio of 35.94, a PEG ratio of 1.41 and a beta of 2.35. Alibaba Group Holding Ltd has a 1 year low of $130.06 and a 1 year high of $211.70. The company has a current ratio of 1.42, a quick ratio of 1.44 and a debt-to-equity ratio of 0.26.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 2nd. The specialty retailer reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $12.51 billion. Alibaba Group had a return on equity of 12.99% and a net margin of 19.33%. The company’s revenue for the quarter was up 49.6% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. On average, equities research analysts expect that Alibaba Group Holding Ltd will post 3.48 earnings per share for the current fiscal year.

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Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

Further Reading: Understanding Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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