Traders Buy Alibaba Group (BABA) on Weakness
Traders purchased shares of Alibaba Group Holding Ltd (NYSE:BABA) on weakness during trading hours on Tuesday. $699.38 million flowed into the stock on the tick-up and $542.98 million flowed out of the stock on the tick-down, for a money net flow of $156.40 million into the stock. Of all stocks tracked, Alibaba Group had the 4th highest net in-flow for the day. Alibaba Group traded down ($3.16) for the day and closed at $140.82
Several brokerages have commented on BABA. Jefferies Financial Group dropped their price target on Alibaba Group to $225.00 and set a “buy” rating on the stock in a research report on Friday, August 24th. Argus dropped their price target on Alibaba Group from $275.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, August 24th. UBS Group set a $245.00 price target on Alibaba Group and gave the stock a “buy” rating in a research report on Friday, August 24th. Nomura dropped their price target on Alibaba Group from $231.00 to $224.00 and set a “buy” rating on the stock in a research report on Friday, August 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $256.00 price target on shares of Alibaba Group in a research report on Thursday, August 23rd. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $213.53.
The stock has a market cap of $368.75 billion, a PE ratio of 34.85, a P/E/G ratio of 1.33 and a beta of 2.37. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.26.
Hedge funds have recently made changes to their positions in the stock. InterOcean Capital LLC acquired a new stake in Alibaba Group in the 2nd quarter valued at $371,000. Palo Capital Inc. acquired a new position in Alibaba Group in the third quarter worth $171,000. Moneta Group Investment Advisors LLC boosted its stake in Alibaba Group by 10,334.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 110,601 shares of the specialty retailer’s stock worth $520,000 after purchasing an additional 109,541 shares in the last quarter. Bouchey Financial Group Ltd acquired a new position in Alibaba Group in the third quarter worth $254,000. Finally, OppenheimerFunds Inc. boosted its stake in Alibaba Group by 8.1% in the second quarter. OppenheimerFunds Inc. now owns 15,778,979 shares of the specialty retailer’s stock worth $2,927,474,000 after purchasing an additional 1,182,927 shares in the last quarter. 38.67% of the stock is currently owned by institutional investors and hedge funds.
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Alibaba Group Company Profile (NYSE:BABA)
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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