Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Kamunting Street Capital Management L.P.

Kamunting Street Capital Management L.P. cut its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 21.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 152,507 shares of the specialty retailer’s stock after selling 41,354 shares during the quarter. Alibaba Group accounts for 10.2% of Kamunting Street Capital Management L.P.’s investment portfolio, making the stock its 4th largest holding. Kamunting Street Capital Management L.P.’s holdings in Alibaba Group were worth $10,981,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BABA. First Command Advisory Services Inc. acquired a new position in Alibaba Group during the 2nd quarter worth approximately $25,000. GPS Wealth Strategies Group LLC raised its position in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares during the period. Register Financial Advisors LLC bought a new position in shares of Alibaba Group in the 1st quarter worth $31,000. Asset Dedication LLC grew its position in Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares during the period. Finally, EdgeRock Capital LLC bought a new stake in Alibaba Group during the 2nd quarter valued at $40,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Trading Up 2.0 %

NYSE:BABA opened at $90.08 on Tuesday. The firm’s 50 day moving average is $81.03 and its 200 day moving average is $77.78. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $91.15. The stock has a market capitalization of $228.58 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same period in the previous year, the company posted $2.47 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Susquehanna reduced their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Jefferies Financial Group reissued a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Loop Capital restated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Sanford C. Bernstein lifted their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and an average price target of $107.61.

About Alibaba Group

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.