Groupon (NASDAQ:GRPN) Shares Climb 11.8% – Here’s What Happened

Shares of Groupon, Inc. (NASDAQ:GRPN) rose 11.8% during mid-day trading on Wednesday. The stock traded as high as $16.83 and last traded at $17.3360. 125,614 shares were traded during trading, a decline of 91% from the average daily volume of 1,461,504 shares. The stock had previously closed at $15.50.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Groupon in a research note on Friday, September 4th. The Goldman Sachs Group set a $16.00 price objective on Groupon in a report on Wednesday, October 7th. Northland Securities set a $30.00 target price on Groupon in a research report on Monday, August 17th. Finally, Wall Street Zen upgraded Groupon from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $23.00.

Groupon Stock Performance

The business’s 50 day moving average is $18.37 and its two-hundred day moving average is $17.66. The firm has a market capitalization of $629.17 million, a PE ratio of -4.97 and a beta of 0.29.

Groupon (NASDAQ:GRPN) last posted its earnings results on Thursday, August 6th. The coupon company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $124.67 million for the quarter, compared to analysts’ expectations of $127.09 million. As a group, equities research analysts predict that Groupon, Inc. will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in Groupon by 64.2% during the 1st quarter. Bank of America Corp DE now owns 636,480 shares of the coupon company’s stock worth $7,574,000 after acquiring an additional 248,928 shares during the period. Renaissance Technologies LLC lifted its stake in Groupon by 464.1% in the 1st quarter. Renaissance Technologies LLC now owns 619,413 shares of the coupon company’s stock worth $7,371,000 after purchasing an additional 509,600 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Groupon by 28.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 580,873 shares of the coupon company’s stock valued at $6,910,000 after purchasing an additional 128,097 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Groupon in the first quarter worth $2,416,000. Finally, Lombard Odier Asset Management Europe Ltd increased its holdings in shares of Groupon by 24.1% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 102,118 shares of the coupon company’s stock worth $1,215,000 after purchasing an additional 19,860 shares during the period. Institutional investors own 90.05% of the company’s stock.

About Groupon

Groupon, Inc (NASDAQ: GRPN) operates a global e-commerce marketplace that connects consumers with local merchants, service providers and businesses. Through its website and mobile applications, the company offers customers promotions and vouchers for experiences, dining, beauty and wellness services, entertainment, travel and other locally focused activities.

Groupon also provides deals on selected products and merchandise, giving participating businesses a platform to reach new customers and generate demand.