Groupon, Inc. (GRPN) Holdings Raised by State Street Corp
State Street Corp grew its holdings in Groupon, Inc. (NASDAQ:GRPN) by 38.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,827,043 shares of the coupon company’s stock after acquiring an additional 2,440,783 shares during the quarter. State Street Corp owned 1.59% of Groupon worth $33,898,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GRPN. First Trust Advisors LP boosted its holdings in Groupon by 43.4% in the second quarter. First Trust Advisors LP now owns 16,324,191 shares of the coupon company’s stock worth $62,685,000 after acquiring an additional 4,937,648 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Groupon by 8.1% in the second quarter. Vanguard Group Inc. now owns 32,453,440 shares of the coupon company’s stock worth $124,620,000 after acquiring an additional 2,430,907 shares in the last quarter. Ulysses Management LLC acquired a new stake in Groupon in the second quarter worth about $5,760,000. AXA acquired a new stake in Groupon in the second quarter worth about $5,332,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Groupon in the second quarter worth about $2,745,000. 57.10% of the stock is owned by institutional investors and hedge funds.
In other news, insider James Sullivan sold 25,000 shares of Groupon stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $4.90, for a total value of $122,500.00. Following the sale, the insider now directly owns 353,524 shares of the company’s stock, valued at $1,732,267.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric P. Lefkofsky sold 1,500,000 shares of Groupon stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $4.39, for a total value of $6,585,000.00. The disclosure for this sale can be found here. Insiders sold 2,310,000 shares of company stock valued at $10,146,900 over the last 90 days. Company insiders own 23.40% of the company’s stock.
Shares of Groupon, Inc. (NASDAQ GRPN) opened at $5.59 on Thursday. Groupon, Inc. has a 12-month low of $2.90 and a 12-month high of $5.63. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.99.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings data on Wednesday, November 1st. The coupon company reported $0.01 EPS for the quarter. The business had revenue of $634.46 million during the quarter, compared to analysts’ expectations of $642.62 million. Groupon had a negative return on equity of 1.47% and a negative net margin of 2.97%. The business’s revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share. sell-side analysts anticipate that Groupon, Inc. will post -0.02 EPS for the current fiscal year.
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Several equities research analysts have weighed in on GRPN shares. B. Riley raised their price target on Groupon from $5.50 to $6.30 and gave the stock a “buy” rating in a report on Wednesday, October 18th. BidaskClub downgraded Groupon from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research raised Groupon from a “hold” rating to a “strong-buy” rating and set a $6.25 price target for the company in a report on Monday. Barclays PLC reissued an “underweight” rating and issued a $3.85 price target (up previously from $3.40) on shares of Groupon in a report on Thursday, August 3rd. Finally, DA Davidson started coverage on Groupon in a report on Friday, September 22nd. They issued a “buy” rating and a $5.00 price target for the company. Seven analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $4.94.
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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