Groupon Inc. (GRPN) Sees Significant Drop in Short Interest
Groupon Inc. (NASDAQ:GRPN) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 39,317,226 shares, a drop of 10.4% from the October 31st total of 43,886,069 shares. Approximately 9.5% of the shares of the company are sold short. Based on an average daily volume of 17,698,053 shares, the short-interest ratio is presently 2.2 days.
A number of research analysts have recently commented on GRPN shares. Wedbush raised Groupon from a “neutral” rating to an “outperform” rating and raised their price target for the company from $4.50 to $6.50 in a report on Monday, October 17th. Zacks Investment Research raised Groupon from a “hold” rating to a “strong-buy” rating and set a $5.75 target price on the stock in a report on Wednesday, October 19th. B. Riley reaffirmed a “neutral” rating and set a $4.50 target price on shares of Groupon in a report on Thursday, October 27th. Macquarie lifted their target price on Groupon from $5.30 to $6.00 and gave the stock an “outperform” rating in a report on Tuesday, October 4th. Finally, Loop Capital initiated coverage on Groupon in a report on Tuesday, September 13th. They set a “hold” rating and a $6.00 target price on the stock. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.94.
In other news, General Counsel Dane A. Drobny sold 30,798 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $5.48, for a total transaction of $168,773.04. Following the transaction, the general counsel now directly owns 320,132 shares of the company’s stock, valued at $1,754,323.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Stevens sold 10,000 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $4.11, for a total value of $41,100.00. Following the transaction, the chief accounting officer now directly owns 163,065 shares in the company, valued at $670,197.15. The disclosure for this sale can be found here. Insiders own 23.86% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Groupon during the first quarter valued at about $760,000. Acadian Asset Management LLC increased its stake in shares of Groupon by 17.3% in the second quarter. Acadian Asset Management LLC now owns 1,200,366 shares of the coupon company’s stock valued at $3,902,000 after buying an additional 177,009 shares during the period. CWM LLC increased its stake in shares of Groupon by 17.5% in the second quarter. CWM LLC now owns 1,182,362 shares of the coupon company’s stock valued at $3,843,000 after buying an additional 175,935 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Groupon during the second quarter valued at about $1,051,000. Finally, California State Teachers Retirement System increased its stake in shares of Groupon by 32.1% in the second quarter. California State Teachers Retirement System now owns 1,261,366 shares of the coupon company’s stock valued at $4,099,000 after buying an additional 306,151 shares during the period. Institutional investors own 58.54% of the company’s stock.
Groupon (NASDAQ:GRPN) opened at 3.97 on Thursday. The company has a 50 day moving average price of $4.40 and a 200-day moving average price of $4.39. Groupon has a 52 week low of $2.15 and a 52 week high of $5.94. The company’s market capitalization is $2.28 billion.
Groupon (NASDAQ:GRPN) last announced its quarterly earnings results on Wednesday, October 26th. The coupon company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Groupon had a negative return on equity of 29.46% and a negative net margin of 6.03%. The company earned $720.50 million during the quarter, compared to the consensus estimate of $710.82 million. During the same period in the prior year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year.
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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