Groupon Inc. (GRPN) Sees Strong Trading Volume
Groupon Inc. (NASDAQ:GRPN) saw unusually-high trading volume on Monday . Approximately 9,435,028 shares were traded during trading, an increase of 74% from the previous session’s volume of 5,429,919 shares.The stock last traded at $3.86 and had previously closed at $3.49.
GRPN has been the subject of several analyst reports. Vetr cut shares of Groupon from a “strong-buy” rating to a “buy” rating and set a $5.12 price target for the company. in a research report on Tuesday, April 26th. Macquarie increased their price target on shares of Groupon from $3.50 to $5.00 and gave the company an “outperform” rating in a research report on Friday, April 15th. Jefferies Group reissued a “hold” rating on shares of Groupon in a research report on Monday, July 11th. Brean Capital initiated coverage on shares of Groupon in a research report on Wednesday, June 22nd. They set a “buy” rating for the company. Finally, Zacks Investment Research raised shares of Groupon from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a research report on Wednesday, May 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. Groupon currently has a consensus rating of “Hold” and a consensus target price of $6.82.
The company’s market cap is $2.20 billion. The stock’s 50 day moving average price is $3.37 and its 200 day moving average price is $3.57.
Groupon (NASDAQ:GRPN) last issued its earnings results on Thursday, April 28th. The coupon company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. During the same quarter in the prior year, the company earned $0.03 EPS. The firm earned $732 million during the quarter, compared to analysts’ expectations of $717.59 million. Groupon’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts forecast that Groupon Inc. will post ($0.05) earnings per share for the current year.
In other Groupon news, Director Peter J. Barris sold 640,045 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $3.22, for a total value of $2,060,944.90. Following the sale, the director now owns 116,923 shares in the company, valued at approximately $376,492.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Brian Stevens sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $3.50, for a total value of $35,000.00. Following the completion of the sale, the chief accounting officer now owns 117,170 shares in the company, valued at approximately $410,095. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Groupon stock. Swiss National Bank boosted its stake in shares of Groupon Inc. (NASDAQ:GRPN) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 634,766 shares of the coupon company’s stock after buying an additional 18,400 shares during the period. Swiss National Bank owned approximately 0.10% of Groupon worth $1,949,000 as of its most recent filing with the SEC.
Groupon, Inc operates online local commerce marketplaces throughout the world that connect merchants to consumers by offering goods and services at a discount. The Company operates through three segments: North America, which represents the United States and Canada; EMEA, which consists of Europe, the Middle East and Africa, and international operations (Rest of World).
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