Channing Global Advisors LLC Has $867,000 Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Channing Global Advisors LLC decreased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 10.1% in the fourth quarter, HoldingsChannel reports. The firm owned 11,186 shares of the specialty retailer’s stock after selling 1,262 shares during the period. Channing Global Advisors LLC’s holdings in Alibaba Group were worth $867,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Princeton Global Asset Management LLC acquired a new stake in Alibaba Group during the 3rd quarter worth about $26,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Alibaba Group by 116.7% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 175 shares during the last quarter. Baystate Wealth Management LLC lifted its holdings in shares of Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 216 shares during the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group during the 3rd quarter valued at about $30,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of Alibaba Group during the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Macquarie lowered Alibaba Group from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $88.50 to $85.40 in a report on Thursday, February 8th. JPMorgan Chase & Co. cut their price objective on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Robert W. Baird cut their price objective on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Wednesday, April 10th. Finally, Citigroup cut their price objective on Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $112.91.

Alibaba Group Stock Performance

Shares of BABA traded up $0.22 on Friday, reaching $75.33. 7,668,917 shares of the stock traded hands, compared to its average volume of 17,899,574. The firm has a market cap of $191.15 billion, a price-to-earnings ratio of 13.99 and a beta of 0.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.80 and a quick ratio of 1.80. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $102.50. The stock’s 50-day moving average price is $73.16 and its 200-day moving average price is $75.56.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The firm had revenue of $260.35 billion for the quarter, compared to the consensus estimate of $260.26 billion. Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Equities analysts forecast that Alibaba Group Holding Limited will post 7.54 EPS for the current fiscal year.

Alibaba Group 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.