Korea Investment CORP Has $158.24 Million Position in Alibaba Group Holding Ltd (BABA)

Korea Investment CORP lessened its position in Alibaba Group Holding Ltd (NYSE:BABA) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 960,409 shares of the specialty retailer’s stock after selling 105,330 shares during the period. Alibaba Group makes up 0.7% of Korea Investment CORP’s portfolio, making the stock its 24th biggest position. Korea Investment CORP’s holdings in Alibaba Group were worth $158,237,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BABA. AlphaMark Advisors LLC boosted its position in shares of Alibaba Group by 468.8% during the 3rd quarter. AlphaMark Advisors LLC now owns 910 shares of the specialty retailer’s stock valued at $150,000 after purchasing an additional 750 shares in the last quarter. Avestar Capital LLC boosted its position in shares of Alibaba Group by 55.2% during the 3rd quarter. Avestar Capital LLC now owns 1,082 shares of the specialty retailer’s stock valued at $154,000 after purchasing an additional 385 shares in the last quarter. Columbia Asset Management bought a new position in shares of Alibaba Group during the 3rd quarter valued at about $160,000. Mainstay Capital Management LLC ADV boosted its position in shares of Alibaba Group by 5,724.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 21,607 shares of the specialty retailer’s stock valued at $165,000 after purchasing an additional 21,236 shares in the last quarter. Finally, Palo Capital Inc. bought a new position in shares of Alibaba Group during the 3rd quarter valued at about $171,000. 38.14% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on BABA shares. Jefferies Financial Group decreased their target price on shares of Alibaba Group to $225.00 and set a “buy” rating for the company in a report on Friday, August 24th. Argus decreased their target price on shares of Alibaba Group from $275.00 to $235.00 and set a “buy” rating for the company in a report on Friday, August 24th. UBS Group set a $245.00 target price on shares of Alibaba Group and gave the stock a “buy” rating in a report on Friday, August 24th. Nomura decreased their target price on shares of Alibaba Group from $231.00 to $224.00 and set a “buy” rating for the company in a report on Friday, August 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $256.00 target price on shares of Alibaba Group in a report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $214.55.

Shares of BABA opened at $150.33 on Monday. The company has a market cap of $385.02 billion, a P/E ratio of 37.30, a price-to-earnings-growth ratio of 1.39 and a beta of 2.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 1.42. Alibaba Group Holding Ltd has a twelve month low of $130.06 and a twelve month high of $211.70.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, November 2nd. The specialty retailer reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.19. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $12.51 billion. Alibaba Group had a net margin of 19.33% and a return on equity of 12.99%. The company’s revenue for the quarter was up 49.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 earnings per share. Analysts predict that Alibaba Group Holding Ltd will post 3.48 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Korea Investment CORP Has $158.24 Million Position in Alibaba Group Holding Ltd (BABA)” was originally posted by WKRB News and is the sole property of of WKRB News. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international copyright law. The original version of this piece of content can be viewed at https://www.wkrb13.com/2018/11/26/korea-investment-corp-has-158-24-million-position-in-alibaba-group-holding-ltd-baba.html.

About Alibaba Group

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.

Featured Article: Debt-To-Equity Ratio

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 Ltd (NYSE:BABA).

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

Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply