Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 12.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,926 shares of the specialty retailer’s stock after selling 3,622 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Alibaba Group were worth $1,795,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Wealth Planning LLC raised its stake in shares of Alibaba Group by 41.6% during the 2nd quarter. Capital Wealth Planning LLC now owns 32,030 shares of the specialty retailer’s stock valued at $2,306,000 after buying an additional 9,415 shares during the last quarter. Tennessee Valley Asset Management Partners raised its position in Alibaba Group by 10.3% during the second quarter. Tennessee Valley Asset Management Partners now owns 6,447 shares of the specialty retailer’s stock valued at $464,000 after acquiring an additional 602 shares in the last quarter. ICA Group Wealth Management LLC lifted its holdings in Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after acquiring an additional 128 shares during the period. Retirement Planning Co of New England Inc. boosted its position in Alibaba Group by 6.2% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 8,474 shares of the specialty retailer’s stock worth $610,000 after purchasing an additional 492 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Alibaba Group by 8.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 348,934 shares of the specialty retailer’s stock worth $25,123,000 after purchasing an additional 27,058 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Down 1.3 %

BABA opened at $83.61 on Tuesday. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $90.46. The firm has a market capitalization of $212.16 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company’s 50 day simple moving average is $80.07 and its two-hundred day simple moving average is $77.28.

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, topping analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company earned $2.47 EPS. Analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BABA has been the subject of several analyst reports. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Sanford C. Bernstein increased their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Loop Capital restated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Truist Financial cut their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.61.

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.