Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Alibaba Group Holding Ltd (BABA) Up By 2.5% Today As It Invests $4.63 Billion In Suning Commerce Group Ltd

Among the hedge funds tracked by Insider Monkey, many hedge funds opted to increase their holding in the stock significantly through the first three months of the year. Notably, Louis Bacon‘s Moore Global Investment bought close to 2 million shares during the first quarter, as it increased its holding in the stock by around 1,437%. Richard Gerson and Navroz D. Udwadia’s Falcon Edge Capital, Boykin Curry’s Eagle Capital Management, Alec Litowitz and Ross Laser’s Magnetar Capital, and Andreas Halvorsen‘s Viking Global increased their own holdings in the stock by 182%, 139%, 145%, and 88% respectively. Doug Silverman and Alexander Klabin’s Senator Investment Group opened a fresh position in the stock, as it bought around 1.1 million shares of the company during the first quarter. On the flip side, Dan Loeb‘s Third Point, James Dinan’s York Capital Management, and John Paulson’s Paulson & Co opted to walk out of this stock during the first trimester, as they sold their entire stakes consisting of 10 million, 2.8 million, and 1.9 million shares of the company respectively.

With the smart money not being particularly excited about Alibaba at the moment, we don’t recommend buying the stock at this time.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...