Groupon (NASDAQ:GRPN) Shares Down 7.8% – Time to Sell?

Groupon, Inc. (NASDAQ:GRPN)’s stock price dropped 7.8% during mid-day trading on Monday . The company traded as low as $16.45 and last traded at $16.3850. Approximately 335,531 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,538,779 shares. The stock had previously closed at $17.78.

Analysts Set New Price Targets

GRPN has been the subject of a number of analyst reports. Wall Street Zen downgraded Groupon from a “hold” rating to a “sell” rating in a report on Saturday. The Goldman Sachs Group decreased their price target on Groupon from $17.00 to $10.00 and set a “sell” rating for the company in a report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Groupon has a consensus rating of “Hold” and an average target price of $33.67.

Groupon Stock Down 5.6%

The firm has a market capitalization of $637.49 million, a PE ratio of -6.43 and a beta of 0.11. The stock has a 50-day moving average price of $12.55 and a 200 day moving average price of $15.22.

Groupon (NASDAQ:GRPN) last posted its quarterly earnings data on Thursday, May 7th. The coupon company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). The business had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $117.65 million. Groupon had a negative net margin of 20.78% and a negative return on equity of 717.37%. As a group, equities analysts predict that Groupon, Inc. will post 0.28 earnings per share for the current fiscal year.

Institutional Trading of Groupon

A number of institutional investors and hedge funds have recently made changes to their positions in GRPN. AQR Capital Management LLC purchased a new stake in shares of Groupon in the first quarter valued at approximately $224,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Groupon by 31.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,606 shares of the coupon company’s stock worth $837,000 after purchasing an additional 10,588 shares in the last quarter. Legal & General Group Plc increased its position in shares of Groupon by 1,098.1% during the second quarter. Legal & General Group Plc now owns 26,658 shares of the coupon company’s stock worth $892,000 after purchasing an additional 24,433 shares in the last quarter. Rhumbline Advisers increased its position in shares of Groupon by 9.6% during the second quarter. Rhumbline Advisers now owns 36,632 shares of the coupon company’s stock worth $1,225,000 after purchasing an additional 3,219 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Groupon by 47.6% during the second quarter. American Century Companies Inc. now owns 47,073 shares of the coupon company’s stock worth $1,575,000 after purchasing an additional 15,177 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

About Groupon

Groupon, Inc operates an online marketplace that connects subscribers with local merchants offering discounted goods, services and experiences. Through its website and mobile applications, Groupon provides time-limited deals across categories such as restaurants, travel, beauty and wellness, home services, and consumer products. Merchants partner with Groupon to attract new customers and drive foot traffic, leveraging the platform’s targeted marketing tools and large subscriber base to promote special offers and vouchers.

Founded in Chicago in 2008 by Andrew Mason, Eric Lefkofsky and Brad Keywell, Groupon pioneered the daily-deals model, quickly growing its user community and merchant network.