Leon Cooperman and his firm Omega Advisors have just bet more on Alibaba Group Holding Ltd (NYSE:BABA) and Groupon Inc (NASDAQ:GRPN), a report from Dominic Chu for CNBC reveals.
The revelation was culled from the 13F filings of Omega Advisors. These regulatory filings with the United States Securities and Exchange Commission have to be filed in a quarterly basis and disclose the holdings of institutional investment managers which manage $100 million or more of assets in publicly traded companies in America.
“In the 13F filings that have just been released by Omega [Advisors] – this is Leon Cooperman’s shop – we know that they have disclosed an $8.7 million stake in Groupon, the only daily deals site, so a new position here,” Chu said.
The firm Sterne Agee on Wednesday restated its “Buy” rating on Groupon Inc (NASDAQ:GRPN) with a target price of $12. Shares of the company closed this week at $7.85.
However, it should be noted that this is a very bullish outlook on Groupon Inc (NASDAQ:GRPN). The average price target consensus on the company’s stock is in the low $8 range.
Meanwhile, another bet Cooperman and Omega Advisors made was on Alibaba Group Holding Ltd (NYSE:BABA).
“[The firm] also [reported] a new $410,000 share stake in Chinese e-commerce giant Alibaba,” Chu noted.
Chu also said at a later part of his report that Julian Robertson’s Tiger Management reported a new $1.22 million stake in Alibaba Group Holding Ltd (NYSE:BABA).
Apart from Omega Advisors and Tiger Management, Andreas Halvorsen’s Viking Global Investors, John Paulson’s Paulson & Company and George Soros’ Soros Fund Management also recently disclosed stakes in the Chinese internet commerce giant in their 13F filings.
Aside from betting on Alibaba Group Holding Ltd (NYSE:BABA) and Groupon Inc (NASDAQ:GRPN) which was ranked 7th in this list of the best places to work at, Leon Cooperman’s Omega Advisors also reported that it divested some of stakes in Sirius XM Holdings Inc. (NASDAQ:SIRI), American International Group Inc (NYSE:AIG) and Citigroup Inc (NYSE:C)
Barry Rosenstein’s Jana Partners was the largest institutional investing firm with a stake in Groupon Inc (NASDAQ:GRPN) by the end of the first half of the year. The firm reported owning about 46.99 million shares in the daily deals site by the end of this period.