Groupon Inc. (NASDAQ:GRPN) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 43,271,101 shares, a decrease of 4.5% from the September 15th total of 45,289,617 shares. Based on an average daily trading volume, of 5,363,905 shares, the short-interest ratio is presently 8.1 days. Approximately 10.4% of the shares of the stock are sold short.
A number of equities research analysts have issued reports on the company. B. Riley reiterated a “neutral” rating and issued a $4.50 price target on shares of Groupon in a research note on Tuesday, August 2nd. Vetr upgraded Groupon from a “sell” rating to a “buy” rating and set a $4.20 price objective for the company in a research report on Monday, July 18th. Morgan Stanley raised their price objective on Groupon from $3.00 to $4.70 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Credit Suisse Group AG restated a “neutral” rating and set a $5.00 price objective on shares of Groupon in a research report on Thursday, July 28th. Finally, Jefferies Group restated a “hold” rating on shares of Groupon in a research report on Monday, July 11th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Groupon has an average rating of “Hold” and a consensus target price of $6.62.
Groupon (NASDAQ:GRPN) opened at 5.07 on Wednesday. The company’s 50-day moving average is $5.21 and its 200 day moving average is $4.36. Groupon has a one year low of $2.15 and a one year high of $5.94. The stock’s market capitalization is $2.91 billion.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Wednesday, July 27th. The coupon company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Groupon had a negative net margin of 5.71% and a negative return on equity of 14.95%. The business earned $756.03 million during the quarter, compared to analysts’ expectations of $710.94 million. During the same quarter in the prior year, the company posted $0.02 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis.
In other Groupon news, General Counsel Dane A. Drobny sold 30,798 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $5.48, for a total value of $168,773.04. Following the completion of the sale, the general counsel now owns 320,132 shares in the company, valued at approximately $1,754,323.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian Stevens sold 15,000 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $5.54, for a total value of $83,100.00. Following the completion of the sale, the chief accounting officer now owns 147,521 shares of the company’s stock, valued at approximately $817,266.34. The disclosure for this sale can be found here. 23.86% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake in Groupon by 1.9% in the first quarter. Renaissance Technologies LLC now owns 12,645,900 shares of the coupon company’s stock valued at $50,457,000 after buying an additional 240,700 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Groupon by 17.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 634,462 shares of the coupon company’s stock valued at $2,062,000 after buying an additional 92,859 shares during the period. Acadian Asset Management LLC boosted its stake in Groupon by 17.3% in the second quarter. Acadian Asset Management LLC now owns 1,200,366 shares of the coupon company’s stock valued at $3,902,000 after buying an additional 177,009 shares during the period. BlackRock Inc. boosted its stake in Groupon by 559.2% in the first quarter. BlackRock Inc. now owns 57,948 shares of the coupon company’s stock valued at $231,000 after buying an additional 49,158 shares during the period. Finally, M&T Bank Corp purchased a new stake in Groupon during the first quarter valued at $107,000. 54.60% of the stock is owned by institutional investors and hedge funds.
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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