Kornitzer Capital Management Inc. KS Sells 244 Shares of Alibaba Group Holding Ltd (NYSE:BABA)

Kornitzer Capital Management Inc. KS reduced its position in Alibaba Group Holding Ltd (NYSE:BABA) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,076 shares of the specialty retailer’s stock after selling 244 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Alibaba Group were worth $2,521,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Eastern Bank acquired a new stake in shares of Alibaba Group in the 3rd quarter valued at approximately $251,000. Bartlett & Co. LLC boosted its stake in shares of Alibaba Group by 62.5% in the 3rd quarter. Bartlett & Co. LLC now owns 437 shares of the specialty retailer’s stock valued at $73,000 after purchasing an additional 168 shares in the last quarter. Strategic Wealth Advisors Group LLC boosted its stake in shares of Alibaba Group by 13.6% in the 3rd quarter. Strategic Wealth Advisors Group LLC now owns 31,536 shares of the specialty retailer’s stock valued at $5,211,000 after purchasing an additional 3,787 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Alibaba Group by 9.1% in the 3rd quarter. Parallel Advisors LLC now owns 15,052 shares of the specialty retailer’s stock valued at $2,517,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Security National Trust Co. boosted its stake in shares of Alibaba Group by 75.0% in the 3rd quarter. Security National Trust Co. now owns 1,750 shares of the specialty retailer’s stock valued at $293,000 after purchasing an additional 750 shares in the last quarter. 43.50% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:BABA traded up $0.50 during mid-day trading on Friday, hitting $187.16. 19,462,817 shares of the company’s stock were exchanged, compared to its average volume of 15,878,246. The company has a 50 day simple moving average of $173.53 and a 200-day simple moving average of $170.99. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Ltd has a fifty-two week low of $129.77 and a fifty-two week high of $195.72. The firm has a market capitalization of $476.21 billion, a P/E ratio of 52.13, a PEG ratio of 1.23 and a beta of 2.26.

Alibaba Group (NYSE:BABA) last posted its earnings results on Friday, November 1st. The specialty retailer reported $1.49 EPS for the quarter, topping the consensus estimate of $1.19 by $0.30. Alibaba Group had a net margin of 34.02% and a return on equity of 14.92%. The business had revenue of $16.65 billion for the quarter, compared to the consensus estimate of $16.72 billion. As a group, analysts expect that Alibaba Group Holding Ltd will post 5.94 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird set a $200.00 price target on shares of Alibaba Group and gave the company a “buy” rating in a research note on Friday, November 1st. Oppenheimer set a $215.00 price target on shares of Alibaba Group and gave the company a “buy” rating in a research note on Tuesday, September 17th. ValuEngine downgraded shares of Alibaba Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. HSBC raised their price target on shares of Alibaba Group from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Bank of America raised their price target on shares of Alibaba Group from $233.00 to $234.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $225.78.

About Alibaba Group

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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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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