Groupon, Inc. (NASDAQ:GRPN) Sees Significant Growth in Short Interest
Groupon, Inc. (NASDAQ:GRPN) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 46,808,914 shares, an increase of 30.0% from the June 15th total of 36,020,263 shares. Approximately 11.2% of the shares of the stock are short sold. Based on an average daily volume of 12,446,294 shares, the short-interest ratio is presently 3.8 days.
In other news, insider James Sullivan sold 20,000 shares of Groupon stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $3.55, for a total transaction of $71,000.00. Following the completion of the sale, the insider now directly owns 339,120 shares of the company’s stock, valued at approximately $1,203,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter J. Barris sold 281,352 shares of Groupon stock in a transaction on Monday, June 12th. The stock was sold at an average price of $3.04, for a total transaction of $855,310.08. Following the sale, the director now directly owns 116,923 shares of the company’s stock, valued at $355,445.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 359,105 shares of company stock valued at $1,129,243. Insiders own 23.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of GRPN. Teacher Retirement System of Texas increased its position in Groupon by 3.6% in the first quarter. Teacher Retirement System of Texas now owns 35,185 shares of the coupon company’s stock valued at $138,000 after buying an additional 1,222 shares in the last quarter. SG Americas Securities LLC increased its position in Groupon by 6.8% in the first quarter. SG Americas Securities LLC now owns 31,399 shares of the coupon company’s stock valued at $123,000 after buying an additional 2,000 shares in the last quarter. Global X Management Co. LLC increased its position in Groupon by 1.2% in the first quarter. Global X Management Co. LLC now owns 328,421 shares of the coupon company’s stock valued at $1,291,000 after buying an additional 3,780 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Groupon by 17.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 43,827 shares of the coupon company’s stock valued at $146,000 after buying an additional 6,389 shares in the last quarter. Finally, Creative Planning increased its position in Groupon by 9.8% in the first quarter. Creative Planning now owns 73,837 shares of the coupon company’s stock valued at $290,000 after buying an additional 6,580 shares in the last quarter. 57.28% of the stock is currently owned by institutional investors.
GRPN has been the subject of a number of research analyst reports. Maxim Group dropped their price objective on shares of Groupon from $5.50 to $4.25 and set a “buy” rating for the company in a report on Thursday, May 4th. B. Riley reaffirmed a “neutral” rating and set a $4.20 price objective on shares of Groupon in a report on Tuesday, May 9th. Vetr raised shares of Groupon from a “buy” rating to a “strong-buy” rating and set a $4.39 price objective for the company in a report on Wednesday, May 3rd. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $5.50 price objective on shares of Groupon in a report on Wednesday, June 28th. Finally, Morgan Stanley downgraded shares of Groupon from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $3.90 to $3.50 in a report on Monday, April 24th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.61.
Groupon (GRPN) opened at 3.94 on Wednesday. The firm has a 50 day moving average of $3.40 and a 200-day moving average of $3.67. The stock’s market cap is $2.21 billion. Groupon has a 52-week low of $2.90 and a 52-week high of $5.94.
Groupon (NASDAQ:GRPN) last released its earnings results on Wednesday, May 3rd. The coupon company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $673.63 million during the quarter, compared to analyst estimates of $721.93 million. Groupon had a negative net margin of 5.51% and a negative return on equity of 22.40%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS. Equities analysts anticipate that Groupon will post $0.10 earnings per share for the current fiscal year.
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Groupon Company Profile
Groupon, Inc operates online local commerce marketplaces around 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, and the Middle East and Africa, and the remainder of its international operations (Rest of World).
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