Trustmark Bank Trust Department Purchases 12,323 Shares of Alibaba Group Holding Limited $BABA

Trustmark Bank Trust Department increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 174.5% in the second quarter, Holdings Channel.com reports. The firm owned 19,386 shares of the specialty retailer’s stock after purchasing an additional 12,323 shares during the quarter. Trustmark Bank Trust Department’s holdings in Alibaba Group were worth $2,199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after buying an additional 981 shares during the period. Mesirow Financial Investment Management Inc. bought a new position in Alibaba Group in the 1st quarter valued at $228,000. Modera Wealth Management LLC purchased a new stake in Alibaba Group in the first quarter worth $347,000. NorthRock Partners LLC purchased a new stake in Alibaba Group in the first quarter worth $236,000. Finally, Commerce Bank lifted its position in shares of Alibaba Group by 5.1% during the first quarter. Commerce Bank now owns 3,347 shares of the specialty retailer’s stock worth $443,000 after purchasing an additional 161 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BABA has been the topic of several recent analyst reports. Zacks Research downgraded shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Macquarie restated an “outperform” rating on shares of Alibaba Group in a research note on Tuesday. Rosenblatt Securities set a $195.00 price target on shares of Alibaba Group in a research note on Wednesday. Robert W. Baird increased their price objective on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.89.

Alibaba Group Stock Performance

Shares of BABA stock opened at $157.19 on Friday. The firm has a market cap of $375.06 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $168.30 and its 200 day moving average is $138.85.

Alibaba Group Company 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.