As revealed in a 13F filing, Leon Cooperman’s Omega Advisors initiated a position in Groupon and Alibaba. Insider Monkey reports that Omega disclosed an $8.7 million stake in Groupon. Stern Agee gave a high price target for the stock at $12, when it currently trades at $7.87 and consensus estimates average around $8.
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Omega also has a $410, 000 stake in Alibaba, and is in good company, since Alibaba is a favorite among prominent funds. Omega divested recently from Sirus XM Holdings, AIG and Citigroup.