Bamco Inc. NY grew its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 25.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,727,945 shares of the specialty retailer’s stock after buying an additional 346,416 shares during the period. Alibaba Group makes up approximately 1.4% of Bamco Inc. NY’s holdings, making the stock its 14th biggest position. Bamco Inc. NY owned about 0.07% of Alibaba Group worth $298,433,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Janney Capital Management LLC bought a new position in Alibaba Group during the third quarter valued at about $1,149,000. Valeo Financial Advisors LLC bought a new position in Alibaba Group during the third quarter valued at about $216,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Alibaba Group by 26.3% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 76,778 shares of the specialty retailer’s stock valued at $13,278,000 after acquiring an additional 15,997 shares during the period. Cubist Systematic Strategies LLC increased its stake in Alibaba Group by 892.0% during the third quarter. Cubist Systematic Strategies LLC now owns 26,834 shares of the specialty retailer’s stock valued at $4,635,000 after acquiring an additional 24,129 shares during the period. Finally, Beacon Investment Advisory Services Inc. bought a new position in Alibaba Group during the third quarter valued at about $7,661,000. 37.94% of the stock is owned by institutional investors.
Alibaba Group Holding Ltd (NYSE:BABA) traded up $11.22 during trading hours on Tuesday, reaching $183.65. The company’s stock had a trading volume of 29,927,725 shares, compared to its average volume of 20,410,000. Alibaba Group Holding Ltd has a 12-month low of $87.20 and a 12-month high of $191.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market cap of $470,360.00, a P/E ratio of 50.87, a price-to-earnings-growth ratio of 1.30 and a beta of 2.52.
Several equities analysts recently issued reports on the company. MKM Partners restated a “buy” rating on shares of Alibaba Group in a research note on Friday, December 15th. Stifel Nicolaus restated a “buy” rating on shares of Alibaba Group in a research note on Wednesday, December 13th. Susquehanna Bancshares initiated coverage on Alibaba Group in a research note on Wednesday, December 6th. They issued a “positive” rating and a $220.00 price objective on the stock. Zacks Investment Research upgraded Alibaba Group from a “hold” rating to a “buy” rating and set a $198.00 price objective on the stock in a research note on Monday, December 4th. Finally, Vetr upgraded Alibaba Group from a “buy” rating to a “strong-buy” rating and set a $209.21 price objective on the stock in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $185.14.
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About Alibaba Group
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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