Brooklyn Investment Group Has $1.52 Million Stake in Alibaba Group Holding Limited $BABA

Brooklyn Investment Group lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 1,021.7% during the 1st quarter, HoldingsChannel reports. The fund owned 11,509 shares of the specialty retailer’s stock after purchasing an additional 10,483 shares during the period. Brooklyn Investment Group’s holdings in Alibaba Group were worth $1,522,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC boosted its holdings in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 196 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Alibaba Group during the 1st quarter valued at $31,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Alibaba Group during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating on shares of Alibaba Group in a report on Monday, July 21st. Arete Research downgraded Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 24th. Barclays cut their target price on Alibaba Group from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Bank of America cut their target price on Alibaba Group from $145.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, July 11th. Finally, Arete downgraded Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 target price on the stock. in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $121.12 on Monday. Alibaba Group Holding Limited has a one year low of $79.21 and a one year high of $148.43. The firm has a market capitalization of $288.85 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.78 and a beta of 0.17. The business has a 50-day simple moving average of $116.23 and a 200 day simple moving average of $120.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55.

About Alibaba Group

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.