Groupon Inc (GRPN) Sees Large Decline in Short Interest
Groupon Inc (NASDAQ:GRPN) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 37,505,936 shares, a decline of 23.5% from the April 28th total of 49,000,575 shares. Based on an average daily volume of 11,003,243 shares, the days-to-cover ratio is currently 3.4 days. Approximately 9.1% of the company’s shares are short sold.
Shares of Groupon (NASDAQ:GRPN) opened at 3.17 on Friday. The company’s market capitalization is $1.78 billion. Groupon has a 52-week low of $2.92 and a 52-week high of $5.94. The firm’s 50-day moving average is $3.60 and its 200 day moving average is $3.78.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings data on Wednesday, May 3rd. The coupon company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $673.63 million for the quarter, compared to the consensus estimate 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 for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) EPS. On average, equities research analysts anticipate that Groupon will post $0.11 earnings per share for the current year.
In related news, CAO Brian Stevens sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $4.00, for a total transaction of $40,000.00. Following the completion of the transaction, the chief accounting officer now owns 194,775 shares in the company, valued at $779,100. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Dane A. Drobny sold 47,753 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $3.59, for a total transaction of $171,433.27. Following the transaction, the general counsel now owns 377,721 shares of the company’s stock, valued at approximately $1,356,018.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 359,107 shares of company stock valued at $1,469,758. Corporate insiders own 23.86% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GRPN. Morgan Stanley increased its position in Groupon by 44.5% in the third quarter. Morgan Stanley now owns 7,461,022 shares of the coupon company’s stock worth $38,425,000 after buying an additional 2,299,150 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in Groupon by 81.1% in the third quarter. D. E. Shaw & Co. Inc. now owns 7,108,667 shares of the coupon company’s stock worth $36,609,000 after buying an additional 3,183,938 shares in the last quarter. State Street Corp increased its position in Groupon by 6.2% in the fourth quarter. State Street Corp now owns 6,593,331 shares of the coupon company’s stock worth $21,890,000 after buying an additional 386,179 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Groupon during the first quarter worth about $18,078,000. Finally, Teachers Advisors LLC increased its position in Groupon by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 4,261,167 shares of the coupon company’s stock worth $14,147,000 after buying an additional 213,139 shares in the last quarter. 59.44% of the stock is currently owned by hedge funds and other institutional investors.
GRPN has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Groupon to $5.30 in a report on Thursday, February 16th. Wedbush set a $5.00 price target on shares of Groupon and gave the company a “buy” rating in a report on Tuesday, February 14th. Vetr upgraded shares of Groupon from a “hold” rating to a “buy” rating and set a $4.67 price target for the company in a report on Thursday, February 23rd. Maxim Group reduced their price target on shares of Groupon from $5.50 to $4.25 and set a “buy” rating for the company in a report on Thursday, May 4th. Finally, Morgan Stanley upped their price target on shares of Groupon from $3.60 to $3.90 and gave the company an “equal weight” rating in a report on Thursday, February 16th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $4.75.
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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).
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