Jane Street Group LLC Purchases 133,300 Shares of Groupon Inc (GRPN)
Jane Street Group LLC grew its position in shares of Groupon Inc (NASDAQ:GRPN) by 658.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,546 shares of the coupon company’s stock after buying an additional 133,300 shares during the period. Jane Street Group LLC’s holdings in Groupon were worth $660,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of GRPN. BlackRock Inc. increased its position in Groupon by 29.9% during the 2nd quarter. BlackRock Inc. now owns 29,790,452 shares of the coupon company’s stock worth $128,101,000 after buying an additional 6,856,566 shares during the period. Millennium Management LLC bought a new position in shares of Groupon in the second quarter worth $18,865,000. Segall Bryant & Hamill LLC bought a new position in shares of Groupon in the second quarter worth $16,507,000. Pinnacle Associates Ltd. increased its position in shares of Groupon by 654.8% in the second quarter. Pinnacle Associates Ltd. now owns 4,075,670 shares of the coupon company’s stock worth $17,525,000 after purchasing an additional 3,535,720 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Groupon by 92.3% in the second quarter. Wells Fargo & Company MN now owns 6,985,470 shares of the coupon company’s stock worth $30,038,000 after purchasing an additional 3,353,584 shares during the period. Hedge funds and other institutional investors own 66.81% of the company’s stock.
In other Groupon news, Director Eric P. Lefkofsky sold 1,500,000 shares of Groupon stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $3.82, for a total value of $5,730,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 16.90% of the company’s stock.
Groupon (NASDAQ:GRPN) last released its earnings results on Friday, August 3rd. The coupon company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). Groupon had a negative net margin of 1.97% and a negative return on equity of 27.12%. The business had revenue of $617.40 million during the quarter, compared to the consensus estimate of $632.20 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The business’s revenue was down 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Groupon Inc will post 0.08 earnings per share for the current fiscal year.
GRPN has been the topic of a number of recent analyst reports. BidaskClub cut Groupon from a “sell” rating to a “strong sell” rating in a research report on Friday, September 7th. Wedbush restated a “neutral” rating and issued a $4.00 price target on shares of Groupon in a research report on Thursday, September 13th. Morgan Stanley raised their price target on Groupon from $4.60 to $4.80 and gave the stock an “equal weight” rating in a research report on Wednesday, July 11th. Zacks Investment Research upgraded Groupon from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research report on Monday. Finally, Barclays restated a “sell” rating and issued a $4.50 price target on shares of Groupon in a research report on Sunday, August 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $5.40.
Groupon, Inc operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount in North America and internationally. The company provides deals in various categories, including events and activities, beauty and spa, health and fitness, food and drink, home and garden, and automotive; and deals on various product lines, such as electronics, sporting goods, jewelries, toys, household items, and apparel, as well as provides discounted and market rates for hotel, airfare, and package deals.
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