Insider Selling: Groupon Inc (GRPN) Insider Sells 20,000 Shares of Stock
Groupon Inc (NASDAQ:GRPN) insider James Sullivan sold 20,000 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $3.55, for a total value of $71,000.00. Following the sale, the insider now owns 339,120 shares of the company’s stock, valued at $1,203,876. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Groupon Inc (NASDAQ:GRPN) traded down 2.29% during trading on Friday, reaching $3.42. 8,559,816 shares of the company traded hands. The firm’s 50 day moving average is $3.80 and its 200-day moving average is $3.86. The stock’s market capitalization is $1.92 billion. Groupon Inc has a 12-month low of $2.92 and a 12-month high of $5.94.
Groupon (NASDAQ:GRPN) last announced its quarterly earnings data on Wednesday, May 3rd. The coupon company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.06. The business had revenue of $673.63 million for the quarter, compared to analysts’ expectations of $721.93 million. Groupon had a negative net margin of 6.03% and a negative return on equity of 29.46%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. On average, equities research analysts anticipate that Groupon Inc will post $0.11 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Insider Selling: Groupon Inc (GRPN) Insider Sells 20,000 Shares of Stock” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/05/12/insider-selling-groupon-inc-grpn-insider-sells-20000-shares-of-stock.html.
GRPN has been the subject of a number of recent analyst reports. Vetr upgraded Groupon from a “buy” rating to a “strong-buy” rating and set a $5.28 price target for the company in a report on Wednesday, March 1st. Morgan Stanley increased their price target on Groupon from $3.60 to $3.90 and gave the stock an “equal weight” rating in a report on Thursday, February 16th. Evercore ISI increased their price target on Groupon to $5.30 in a report on Thursday, February 16th. Cowen and Company decreased their price target on Groupon from $4.00 to $3.00 and set an “underperform” rating for the company in a report on Thursday, May 4th. Finally, Citigroup Inc initiated coverage on Groupon in a report on Monday, March 27th. They set a “neutral” rating and a $5.00 price target for the company. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $4.75.
Hedge funds and other institutional investors have recently modified their holdings of the company. Karp Capital Management Corp purchased a new position in shares of Groupon during the first quarter valued at about $108,000. SG Americas Securities LLC increased its position in shares of Groupon by 6.8% in the first quarter. SG Americas Securities LLC now owns 31,399 shares of the coupon company’s stock valued at $123,000 after buying an additional 2,000 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Groupon by 45.5% in the first quarter. North Star Investment Management Corp. now owns 32,000 shares of the coupon company’s stock valued at $126,000 after buying an additional 10,000 shares in the last quarter. Partner Investment Management L.P. purchased a new position in shares of Groupon during the third quarter valued at about $176,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Groupon during the fourth quarter valued at about $113,000. Hedge funds and other institutional investors own 59.44% of the company’s stock.
Groupon Company Profile
Groupon, Inc operates online local commerce marketplaces around 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, and the Middle East and Africa, and the remainder of its international operations (Rest of World).
Receive News & Ratings for Groupon Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Groupon Inc and related companies with MarketBeat.com's FREE daily email newsletter.