Tandem Capital Management Corp ADV Purchases New Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Tandem Capital Management Corp ADV bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the fourth quarter, Holdings Channel reports. The fund bought 7,902 shares of the specialty retailer’s stock, valued at approximately $612,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BABA. Global Retirement Partners LLC raised its position in shares of Alibaba Group by 8.7% in the third quarter. Global Retirement Partners LLC now owns 2,176 shares of the specialty retailer’s stock valued at $183,000 after buying an additional 175 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Alibaba Group by 16.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 6,550 shares of the specialty retailer’s stock valued at $568,000 after acquiring an additional 945 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Alibaba Group by 61.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 14,689 shares of the specialty retailer’s stock worth $1,274,000 after purchasing an additional 5,594 shares in the last quarter. Private Trust Co. NA grew its position in shares of Alibaba Group by 19.5% in the third quarter. Private Trust Co. NA now owns 7,783 shares of the specialty retailer’s stock valued at $675,000 after purchasing an additional 1,272 shares in the last quarter. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of Alibaba Group by 45.4% in the third quarter. Pinnacle Bancorp Inc. now owns 458 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BABA. Barclays dropped their target price on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating for the company in a report on Friday, January 12th. Citigroup reduced their target price on shares of Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Benchmark reissued a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Wednesday, April 10th. Macquarie lowered shares of Alibaba Group from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $88.50 to $85.40 in a research report on Thursday, February 8th. Finally, The Goldman Sachs Group cut their target price on Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $112.91.

Alibaba Group Stock Up 0.6 %

Shares of Alibaba Group stock traded up $0.48 on Thursday, reaching $75.11. 11,693,849 shares of the company were exchanged, compared to its average volume of 18,030,084. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $102.50. The stock’s 50 day moving average price is $73.16 and its 200-day moving average price is $75.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market cap of $190.59 billion, a P/E ratio of 13.86 and a beta of 0.46.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The firm had revenue of $260.35 billion during the quarter, compared to analyst estimates of $260.26 billion. Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. Alibaba Group’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.44 earnings per share. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 7.54 EPS for the current year.

Alibaba Group Company Profile

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.