Hsbc Holdings PLC Lowers Holdings in Groupon, Inc. $GRPN

Hsbc Holdings PLC decreased its holdings in shares of Groupon, Inc. (NASDAQ:GRPN) by 63.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,316 shares of the coupon company’s stock after selling 26,185 shares during the quarter. Hsbc Holdings PLC’s holdings in Groupon were worth $181,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GRPN. Caitong International Asset Management Co. Ltd purchased a new position in shares of Groupon during the 3rd quarter worth $32,000. Quarry LP boosted its stake in Groupon by 48.1% during the third quarter. Quarry LP now owns 1,938 shares of the coupon company’s stock worth $45,000 after buying an additional 629 shares during the period. Johnson Financial Group Inc. purchased a new position in Groupon during the fourth quarter worth about $35,000. Raymond James Financial Inc. acquired a new stake in shares of Groupon during the second quarter valued at about $69,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Groupon by 386.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,547 shares of the coupon company’s stock valued at $85,000 after acquiring an additional 2,023 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

GRPN has been the subject of a number of research analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Groupon in a research report on Tuesday, June 9th. The Goldman Sachs Group restated a “sell” rating and set a $13.00 price target (up from $10.00) on shares of Groupon in a research report on Tuesday, May 12th. Wall Street Zen cut Groupon from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Northland Securities set a $26.00 price objective on Groupon in a report on Wednesday, May 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Groupon in a research note on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.50.

Groupon Stock Up 0.3%

Shares of GRPN opened at $27.65 on Tuesday. Groupon, Inc. has a fifty-two week low of $9.17 and a fifty-two week high of $43.08. The firm’s 50 day moving average price is $22.49 and its 200 day moving average price is $16.82. The company has a market cap of $1.05 billion, a P/E ratio of -10.59 and a beta of 0.23.

Groupon (NASDAQ:GRPN) last released its earnings results on Thursday, May 7th. The coupon company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). The business had revenue of $117.20 million for the quarter, compared to the consensus estimate of $117.65 million. Research analysts forecast that Groupon, Inc. will post -0.17 earnings per share for the current year.

Groupon Profile

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.