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Cooperman’s Omega Advisors Buys Facebook Shares (FB, AAPL, LVS, SD, SIRI, NYX)

A recent Securities and Exchange Commission filing (SEC) showed that Leon Cooperman’s Omega Advisors bought shares of Facebook Inc. (NASDAQ: FB) in the fourth quarter of 2012.

Omega Advisors in its 13F filing disclosed that it purchased nearly 3.2 million shares of Facebook during the fourth quarter. Meanwhile, the filing also showed that the fund liquidated its position in Apple Inc. (NASDAQ: AAPL). In a previous filing, Omega Advisors had disclosed it held 266,000 shares of Apple.

Facebook’s shares rebounded sharply in the fourth quarter of 2012 as investors were impressed with the company’s efforts to boost its mobile advertising revenue. Ever since the social network completed its IPO in May last year, it had been under pressure from investors to find new avenues for revenue growth. Concerns over the company’s growth had sparked a sell-off immediately after the IPO.

However, in the third quarter of 2012, Facebook reported strong mobile advertising revenue. The quarterly results investors’ confidence in the company. During the fourth quarter of 2012, Facebook shares rose 22.9%. The stock continued its strong run in January this year. However, in recent weeks, it has seen a pullback. In today’s trading, FB shares are 0.42% higher at $28.62. FB shares are still trading significantly below their IPO price of $38.

While Facebook had an excellent fourth quarter, Apple shares suffered amid concerns over rising competition. During the fourth quarter, AAPL shares fell 20.23%. Not surprisingly, Cooperman liquidated his position in the stock.

The 13F filing also revealed that Omega Advisors that the fund bought new stakes in Las Vegas Sands Corp. (NYSE: LVS), SandRidge Energy Inc. (NYSE: SD). The fund also raised its stake in satellite radio company Sirius XM Radio Inc. (NASDAQ: SIRI) and NYSE Euronext (NYSE: NYX).

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All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.