Groupon, Inc. (GRPN) Trading Up 5.3%
Shares of Groupon, Inc. (NASDAQ:GRPN) were up 5.3% during mid-day trading on Tuesday . The company traded as high as $4.96 and last traded at $4.95. Approximately 6,623,226 shares traded hands during trading, a decline of 2% from the average daily volume of 6,755,740 shares. The stock had previously closed at $4.70.
A number of analysts have recently issued reports on GRPN shares. B. Riley restated a “buy” rating and set a $5.50 target price on shares of Groupon in a research note on Thursday, August 3rd. Cowen and Company upgraded shares of Groupon from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $2.90 to $5.38 in a research note on Monday. Jefferies Group LLC reiterated a “hold” rating and issued a $4.00 price objective on shares of Groupon in a research note on Thursday. DA Davidson initiated coverage on shares of Groupon in a research note on Friday, September 22nd. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $3.20 price objective (down previously from $3.50) on shares of Groupon in a research note on Wednesday, July 26th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $4.77.
The firm has a 50-day moving average of $4.68 and a 200-day moving average of $3.91. The firm’s market cap is $2.78 billion.
Groupon (NASDAQ:GRPN) last announced its quarterly earnings data on Wednesday, August 2nd. The coupon company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.06. The business had revenue of $662.60 million during the quarter, compared to analyst estimates of $668.84 million. Groupon had a negative return on equity of 13.08% and a negative net margin of 4.16%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share. Analysts forecast that Groupon, Inc. will post $0.12 EPS for the current year.
In other news, insider James Sullivan sold 25,000 shares of Groupon stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $4.90, for a total value of $122,500.00. Following the completion of the transaction, the insider now owns 353,524 shares of the company’s stock, valued at approximately $1,732,267.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Brian Stevens sold 10,000 shares of Groupon stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $4.04, for a total value of $40,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 215,696 shares of the company’s stock, valued at approximately $871,411.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,872,719 shares of company stock valued at $12,375,267. 23.40% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of GRPN. Wells Fargo & Company MN raised its position in Groupon by 177.5% in the 1st quarter. Wells Fargo & Company MN now owns 510,797 shares of the coupon company’s stock worth $2,008,000 after buying an additional 326,756 shares during the last quarter. Bank of New York Mellon Corp raised its position in Groupon by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,424,065 shares of the coupon company’s stock worth $5,596,000 after buying an additional 74,298 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Groupon by 21.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 294,562 shares of the coupon company’s stock worth $1,158,000 after buying an additional 51,657 shares during the last quarter. Karp Capital Management Corp purchased a new position in Groupon in the 1st quarter worth about $108,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in Groupon by 16.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 51,080 shares of the coupon company’s stock worth $201,000 after buying an additional 7,253 shares during the last quarter. 56.08% of the stock is owned by institutional investors and hedge funds.
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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