Groupon Inc. (NASDAQ:GRPN) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 45,289,617 shares, a decrease of 5.1% from the August 31st total of 47,700,692 shares. Approximately 10.9% of the shares of the company are short sold. Based on an average daily trading volume, of 5,305,645 shares, the days-to-cover ratio is currently 8.5 days.
In other Groupon news, CAO Brian Stevens sold 15,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $5.54, for a total transaction of $83,100.00. Following the sale, the chief accounting officer now directly owns 147,521 shares of the company’s stock, valued at $817,266.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Dane A. Drobny sold 30,798 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $5.48, for a total transaction of $168,773.04. Following the sale, the general counsel now directly owns 320,132 shares in the company, valued at $1,754,323.36. The disclosure for this sale can be found here. Corporate insiders own 23.86% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Groupon during the fourth quarter valued at about $13,951,000. First Trust Advisors LP boosted its stake in shares of Groupon by 36.4% in the second quarter. First Trust Advisors LP now owns 11,161,721 shares of the coupon company’s stock valued at $36,276,000 after buying an additional 2,976,695 shares during the period. HBK Investments L P boosted its stake in shares of Groupon by 329.2% in the first quarter. HBK Investments L P now owns 3,494,900 shares of the coupon company’s stock valued at $13,945,000 after buying an additional 2,680,569 shares during the period. Credit Suisse AG boosted its stake in shares of Groupon by 324.7% in the second quarter. Credit Suisse AG now owns 2,287,173 shares of the coupon company’s stock valued at $7,434,000 after buying an additional 1,748,581 shares during the period. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Groupon during the first quarter valued at about $5,854,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on GRPN. B. Riley reaffirmed a “neutral” rating and set a $4.50 price objective on shares of Groupon in a report on Thursday, July 28th. Jefferies Group upped their price objective on shares of Groupon from $3.50 to $4.75 and gave the company a “hold” rating in a report on Thursday, July 28th. Royal Bank Of Canada upped their price objective on shares of Groupon from $3.00 to $4.00 and gave the company an “underperform” rating in a report on Thursday, July 28th. Piper Jaffray Cos. raised shares of Groupon from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $4.00 to $6.00 in a report on Monday, July 18th. Finally, Maxim Group began coverage on shares of Groupon in a report on Wednesday, June 22nd. They set a “buy” rating and a $5.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Groupon currently has a consensus rating of “Hold” and an average price target of $6.49.
Shares of Groupon (NASDAQ:GRPN) opened at 5.15 on Friday. Groupon has a 12-month low of $2.15 and a 12-month high of $5.94. The company has a 50-day moving average of $5.36 and a 200 day moving average of $4.26. The company’s market cap is $2.96 billion.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Wednesday, July 27th. The coupon company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. Groupon had a negative return on equity of 14.95% and a negative net margin of 5.71%. The company had revenue of $756.03 million for the quarter, compared to analysts’ expectations of $710.94 million. During the same period in the previous year, the firm earned $0.02 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year.
Groupon, Inc operates online local commerce marketplaces throughout 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, the Middle East and Africa, and international operations (Rest of World).
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