TCG Advisors LP reduced its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 61.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 219 shares of the specialty retailer’s stock after selling 355 shares during the period. TCG Advisors LP’s holdings in Alibaba Group were worth $38,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Athanor Capital LP boosted its stake in Alibaba Group by 3,894.2% in the 2nd quarter. Athanor Capital LP now owns 87,872 shares of the specialty retailer’s stock worth $14,890,000 after buying an additional 85,672 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in Alibaba Group by 3,781.8% during the second quarter. Moneta Group Investment Advisors LLC now owns 87,030 shares of the specialty retailer’s stock worth $390,000 after purchasing an additional 84,788 shares during the period. MML Investors Services LLC raised its stake in Alibaba Group by 21.7% during the second quarter. MML Investors Services LLC now owns 58,402 shares of the specialty retailer’s stock worth $9,896,000 after purchasing an additional 10,405 shares during the period. RBF Capital LLC boosted its holdings in shares of Alibaba Group by 28.2% in the 2nd quarter. RBF Capital LLC now owns 128,200 shares of the specialty retailer’s stock valued at $21,723,000 after purchasing an additional 28,200 shares during the last quarter. Finally, RWC Asset Management LLP purchased a new stake in shares of Alibaba Group during the 2nd quarter valued at $808,000. Institutional investors own 44.23% of the company’s stock.

Several brokerages recently weighed in on BABA. Royal Bank of Canada set a $210.00 target price on Alibaba Group and gave the stock a “buy” rating in a research report on Monday, August 12th. Goldman Sachs Group set a $236.00 price target on Alibaba Group and gave the company a “buy” rating in a research report on Friday, August 16th. KeyCorp upped their price target on Alibaba Group from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Benchmark restated a “buy” rating and issued a $220.00 price objective (up from $205.00) on shares of Alibaba Group in a report on Thursday, May 16th. Finally, Morgan Stanley set a $207.00 price objective on Alibaba Group and gave the company a “buy” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $219.92.

Shares of BABA stock traded up $0.98 on Wednesday, hitting $175.97. The stock had a trading volume of 532,657 shares, compared to its average volume of 13,538,173. The stock’s 50 day moving average is $170.04 and its 200-day moving average is $173.28. The firm has a market capitalization of $452.34 billion, a price-to-earnings ratio of 49.02, a P/E/G ratio of 1.09 and a beta of 2.28. Alibaba Group Holding Ltd has a 52-week low of $129.77 and a 52-week high of $195.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.38 and a current ratio of 1.38.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.32. The firm had revenue of $114.92 billion for the quarter, compared to analyst estimates of $111.65 billion. Alibaba Group had a net margin of 24.40% and a return on equity of 14.36%. The firm’s revenue was up 42.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. Equities analysts expect that Alibaba Group Holding Ltd will post 5.81 earnings per share for the current year.

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.

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

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