Groupon, Inc. (GRPN) Shares Sold by Rhumbline Advisers
Rhumbline Advisers cut its holdings in Groupon, Inc. (NASDAQ:GRPN) by 7.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 383,639 shares of the coupon company’s stock after selling 33,069 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of Groupon worth $1,473,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Karp Capital Management Corp acquired a new stake in Groupon in the first quarter valued at about $108,000. Invictus RG boosted its stake in Groupon by 359.6% in the first quarter. Invictus RG now owns 28,782 shares of the coupon company’s stock valued at $113,000 after buying an additional 22,520 shares in the last quarter. Aperio Group LLC boosted its stake in Groupon by 4.6% in the second quarter. Aperio Group LLC now owns 28,844 shares of the coupon company’s stock valued at $111,000 after buying an additional 1,268 shares in the last quarter. FNY Managed Accounts LLC acquired a new stake in Groupon in the first quarter valued at about $117,000. Finally, SG Americas Securities LLC boosted its stake 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. 56.08% of the stock is currently owned by institutional investors and hedge funds.
GRPN has been the topic of several research analyst reports. B. Riley raised Groupon from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.20 to $5.50 in a research note on Thursday, June 29th. BidaskClub raised Groupon from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Groupon in a research note on Friday, June 30th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Groupon in a research note on Thursday, August 3rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $5.50 price objective on shares of Groupon in a research note on Wednesday, June 28th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Groupon presently has an average rating of “Hold” and an average price target of $4.57.
In other news, Director Peter J. Barris sold 562,719 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $3.96, for a total value of $2,228,367.24. Following the completion of the sale, the director now owns 168,887 shares of the company’s stock, valued at approximately $668,792.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eric P. Lefkofsky sold 750,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $4.40, for a total value of $3,300,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,847,719 shares of company stock valued at $12,252,767. 23.40% of the stock is currently owned by corporate insiders.
Groupon, Inc. (NASDAQ GRPN) opened at 4.34 on Wednesday. The company’s market capitalization is $2.41 billion. The stock’s 50 day moving average price is $4.18 and its 200-day moving average price is $3.77. Groupon, Inc. has a 12 month low of $2.90 and a 12 month high of $5.53.
Groupon (NASDAQ:GRPN) last released its earnings results on Wednesday, August 2nd. The coupon company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.06. Groupon had a negative return on equity of 13.08% and a negative net margin of 4.16%. The company had revenue of $662.60 million during the quarter, compared to analyst estimates of $668.84 million. During the same quarter in the previous year, the company posted ($0.01) EPS. Groupon’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts predict that Groupon, Inc. will post $0.12 EPS 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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