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Will Tairen Capital’s Bullish Moves In Yelp, Alibaba, And Others Help Turn It Around?

#3 Yum! Brands, Inc. (NYSE:YUM)

– Shares Owned by Tairen Capital (as of June 30): 207,139

– Value of Holding (as of June 30): $17.17 Million

Tairen Capital initiated a stake in Yum! Brands, Inc. (NYSE:YUM) during the second quarter, though the overall popularity of the company among the hedge funds in our database took a beating during the period, as its ownership among them declined by five to 46 and the aggregate value of their holdings in it shrank by $180 million to $4.52 billion. Yum! Brands, Inc. (NYSE:YUM)’s stock witnessed a severe correction after it made its lifetime high of $95.90 last year. However, it has made back most of those losses in the last few months and is again trading above the $90 mark. The company is currently engaged in spinning off its beleaguered China unit, Yum China, which is expected to be completed by the end of next month. For its fiscal year 2016 third quarter, analysts are expecting the company to report EPS of $1.10 on revenue of $3.49 billion, compared to EPS of $1.00 and revenue of $3.43 billion that it had reported for the same quarter of last year. Jamie Mendola‘s Pacific Grove Capital boosted its stake in Yum! Brands by 91% during the second quarter, to 208,401 shares.

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#2 Amazon.com, Inc. (NASDAQ:AMZN)

– Shares Owned by Tairen Capital (as of June 30): 28,700

– Value of Holding (as of June 30): $20.54 Million

Like the three stocks we have already discussed, Amazon.com, Inc. (NASDAQ:AMZN) was also a new entrant into Tairen Capital’s equity portfolio during the second quarter. The e-commerce behemoth lost a significant chunk of its market cap at the beginning of 2016, but managed to bounce back fairly quickly and is currently trading up by 13% year-to-date. Though the company failed to make a mark in the Chinese e-commerce market despite launching its operations in the country more than a decade ago, it has managed to become the dominant player in the Indian e-commerce market within four years of launching its operations in the country. On August 21, analysts at KeyCorp reiterated their ‘Overweight’ rating and $847 price target on Amazon’s stock, which represents potential upside of 8.8%. Amazon.com, Inc. (NASDAQ:AMZN) was the second-most popular stock at the end of June among the hedge funds covered by Insider Monkey, 145 of whom reported holdng a stake in the company. Though billionaire Andreas Halvorsen’s Viking Global reduced its stake in Amazon by 5% to 3.27 million shares during the second quarter, it continued to remain the largest shareholder of Amazon at the end of June among those funds.

#1 Alibaba Group Holding Ltd (NYSE:BABA)

– Shares Owned by Tairen Capital (as of June 30): 1.38 Million

– Value of Holding (as of June 30): $110.10 Million

Alibaba Group Holding Ltd (NYSE:BABA) is the only stock covered in this article in which Tairen Capital didn’t initiate a stake during the second quarter. However, the 13-fold increase that the fund made to its stake in the company during that time pushed Alibaba to the top spot in its equity portfolio at the end of June. Shares of the Chinese e-commerce giant recently broke above the $100 mark after trading below it for more than one-and-a-half years and are currently trading up by almost 26% in 2016. Most of the gains that the stock has seen this year came last month after the company reported much better than expected numbers for its fiscal year 2017 first quarter. Analysts had expected it to report EPS of $0.63 on revenue of $4.57 billion, but Alibaba Group Holding Ltd (NYSE:BABA) instead declared EPS of $0.74 on revenue of $4.84 billion. During the April-to-June period, the number of hedge funds in our system long Alibaba inched up by two to 69. Billionaire Ken Fisher‘s Fisher Asset Management reduced its stake in the company by 5% to 3.22 million shares during the second quarter.

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Disclosure: None

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