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Komfie Manalo, Opalesque Asia: Some of the biggest hedge funds in the U.S. have reduced or completely
unloaded their shares in China's Alibaba Group Holding in the fourth
quarter of last year, anticipating a drop in the e-commerce company’s
earnings in the last quarter that sent its shares to decline in January.
A report by Reuters said that Leon Cooperman's Omega Advisors,
David Tepper's Appaloosa Management and Barry Rosenstein's Jana Partners
LLC have unloaded their Alibaba shares according to U.S. regulatory
filings, while hedge funds Tiger Management, Moore Capital Management
and Viking Global Investors LP have reduced their stakes in Q4-14.
However, Dan Loeb's Third Point and John Paulson's Paulson & Co raised
their exposures in the Chinese e-commerce firm. T. Rowe Price Associates
Inc. also trimmed its stake.
However, Alibaba also attracted new investments from Tiger Global
Management LLC and Sands Capital Management LLC, according to a separate
report from Bloomberg. Tiger Global Management purchased 5.8
million shares, or 0.24 percent of Hangzhou, China-based Alibaba, while
Sands Capital Management more than doubled its stake to 19.6 million
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