EWG Elevate Inc. Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

EWG Elevate Inc. acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,194 shares of the specialty retailer’s stock, valued at approximately $105,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Eubel Brady & Suttman Asset Management Inc. grew its position in Alibaba Group by 5.3% in the second quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,464 shares of the specialty retailer’s stock valued at $280,000 after acquiring an additional 125 shares during the period. 180 Wealth Advisors LLC grew its position in Alibaba Group by 2.6% in the third quarter. 180 Wealth Advisors LLC now owns 6,216 shares of the specialty retailer’s stock valued at $497,000 after acquiring an additional 159 shares during the period. CI Investments Inc. grew its position in Alibaba Group by 3.6% in the second quarter. CI Investments Inc. now owns 4,594 shares of the specialty retailer’s stock valued at $522,000 after acquiring an additional 160 shares during the period. Dynamic Advisor Solutions LLC grew its position in Alibaba Group by 6.0% in the third quarter. Dynamic Advisor Solutions LLC now owns 2,923 shares of the specialty retailer’s stock valued at $234,000 after acquiring an additional 166 shares during the period. Finally, Old Port Advisors grew its position in Alibaba Group by 3.0% in the third quarter. Old Port Advisors now owns 5,939 shares of the specialty retailer’s stock valued at $501,000 after acquiring an additional 173 shares during the period. 13.86% of the stock is currently owned by institutional investors.

Alibaba Group Trading Down 0.7 %

NYSE:BABA opened at $81.67 on Friday. Alibaba Group Holding Limited has a 1-year low of $58.01 and a 1-year high of $125.84. The business’s 50-day moving average price is $102.16 and its two-hundred day moving average price is $89.01. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $216.27 billion, a price-to-earnings ratio of 44.87, a PEG ratio of 1.04 and a beta of 0.63.

Analyst Ratings Changes

A number of brokerages have weighed in on BABA. Susquehanna lowered their price target on Alibaba Group from $185.00 to $175.00 and set a “positive” rating on the stock in a research report on Tuesday, February 28th. StockNews.com assumed coverage on Alibaba Group in a report on Thursday. They set a “hold” rating on the stock. KGI Securities upgraded Alibaba Group from a “neutral” rating to an “outperform” rating in a report on Friday, February 24th. Truist Financial increased their target price on Alibaba Group from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 24th. Finally, Citigroup increased their target price on Alibaba Group from $144.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, January 10th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $148.13.

About Alibaba Group

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Alibaba Group Holding Ltd. engages in providing technology infrastructure and marketing reach. It operates through the following business segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others segments.