Renaissance Group LLC Buys 369 Shares of Alibaba Group Holding Limited $BABA

Renaissance Group LLC grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 0.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,625 shares of the specialty retailer’s stock after acquiring an additional 369 shares during the period. Renaissance Group LLC’s holdings in Alibaba Group were worth $6,195,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. 1248 Management LLC bought a new position in shares of Alibaba Group during the 1st quarter worth $26,000. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group in the first quarter worth about $26,000. Summit Securities Group LLC lifted its stake in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd bought a new position in Alibaba Group during the 1st quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. increased its position in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 196 shares during the period. Institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. CLSA upped their price target on shares of Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. UBS Group restated a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a report on Sunday, August 31st. Barclays lifted their price target on Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Arete upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective for the company in a research note on Wednesday, September 3rd. Finally, Citigroup reiterated a “buy” rating on shares of Alibaba Group in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $160.05 on Wednesday. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The company has a market cap of $381.89 billion, a PE ratio of 18.61, a P/E/G ratio of 2.40 and a beta of 0.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The business has a 50-day simple moving average of $168.49 and a two-hundred day simple moving average of $137.27.

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.