GW&K Investment Management LLC Sells 38,645 Shares of Alibaba Group Holding Ltd (NYSE:BABA)

GW&K Investment Management LLC reduced its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 478,207 shares of the specialty retailer’s stock after selling 38,645 shares during the period. Alibaba Group accounts for about 1.1% of GW&K Investment Management LLC’s portfolio, making the stock its 8th largest position. GW&K Investment Management LLC’s holdings in Alibaba Group were worth $79,971,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Cypress Wealth Services LLC raised its stake in shares of Alibaba Group by 3.2% in the third quarter. Cypress Wealth Services LLC now owns 1,811 shares of the specialty retailer’s stock worth $303,000 after acquiring an additional 57 shares during the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of Alibaba Group by 5.0% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,228 shares of the specialty retailer’s stock worth $205,000 after acquiring an additional 59 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Alibaba Group by 2.7% in the second quarter. Moneta Group Investment Advisors LLC now owns 2,302 shares of the specialty retailer’s stock worth $390,000 after acquiring an additional 60 shares during the last quarter. Pegasus Asset Management Inc. raised its stake in shares of Alibaba Group by 0.8% in the third quarter. Pegasus Asset Management Inc. now owns 7,959 shares of the specialty retailer’s stock worth $1,331,000 after acquiring an additional 62 shares during the last quarter. Finally, Joel Isaacson & Co. LLC raised its stake in shares of Alibaba Group by 1.4% in the second quarter. Joel Isaacson & Co. LLC now owns 4,691 shares of the specialty retailer’s stock worth $795,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 43.50% of the company’s stock.

A number of equities analysts have weighed in on BABA shares. ValuEngine downgraded shares of Alibaba Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Vertical Group started coverage on shares of Alibaba Group in a research note on Wednesday, October 23rd. They issued a “buy” rating for the company. Daiwa Capital Markets reaffirmed a “buy” rating on shares of Alibaba Group in a research note on Tuesday, October 22nd. Oppenheimer set a $215.00 target price on shares of Alibaba Group and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, KeyCorp dropped their price target on shares of Alibaba Group from $245.00 to $243.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $225.78.

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NYSE BABA traded up $0.50 during trading on Friday, reaching $187.16. 19,462,817 shares of the stock traded hands, compared to its average volume of 15,878,246. The firm has a market cap of $476.21 billion, a price-to-earnings ratio of 52.13, a price-to-earnings-growth ratio of 1.23 and a beta of 2.26. The stock’s 50-day moving average price is $173.53 and its 200 day moving average price is $170.99. The company has a quick ratio of 1.38, a current 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.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, November 1st. The specialty retailer reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.30. The firm had revenue of $16.65 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Alibaba Group had a net margin of 34.02% and a return on equity of 14.92%. Analysts anticipate that Alibaba Group Holding Ltd will post 5.94 EPS for the current fiscal year.

Alibaba Group Profile

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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