Groupon, Inc. (NASDAQ:GRPN) Stock Rating Reaffirmed by Bank of America Corporation
Groupon, Inc. (NASDAQ:GRPN)‘s stock had its “underperform” rating reissued by investment analysts at Bank of America Corporation in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $3.50 price objective on the coupon company’s stock. Bank of America Corporation’s price objective indicates a potential downside of 4.11% from the company’s previous close.
A number of other research firms also recently weighed in on GRPN. Citigroup Inc. began coverage on shares of Groupon in a research note on Monday, March 27th. They set a “neutral” rating and a $5.00 price target on the stock. Barclays PLC began coverage on shares of Groupon in a research note on Tuesday, March 28th. They set an “underweight” rating and a $3.60 price target on the stock. Vetr downgraded shares of Groupon from a “strong-buy” rating to a “buy” rating and set a $4.26 price target on the stock. in a research note on Monday, May 1st. Morgan Stanley downgraded shares of Groupon from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $3.90 to $3.50 in a research note on Monday, April 24th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $6.50 price target on shares of Groupon in a research note on Saturday, April 22nd. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.56.
Groupon (NASDAQ:GRPN) traded down 4.70% during mid-day trading on Friday, reaching $3.65. 9,488,187 shares of the company traded hands. The stock has a 50-day moving average of $3.45 and a 200 day moving average of $3.67. The stock’s market capitalization is $2.05 billion. Groupon has a 52-week low of $2.90 and a 52-week high of $5.94.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings results 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 company 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 5.51% and a negative return on equity of 22.40%. Groupon’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share. Equities research analysts expect that Groupon will post $0.10 earnings per share for the current year.
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In other Groupon news, insider James Sullivan sold 20,000 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $3.55, for a total transaction of $71,000.00. Following the transaction, the insider now directly owns 339,120 shares in the company, valued at approximately $1,203,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Dane A. Drobny sold 47,753 shares of the stock in a transaction 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 in the company, valued at $1,356,018.39. The disclosure for this sale can be found here. Insiders have sold a total of 359,105 shares of company stock worth $1,129,243 over the last quarter. 23.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of GRPN. Karp Capital Management Corp bought a new position in Groupon during the first quarter worth approximately $108,000. Aperio Group LLC increased its position in Groupon by 4.6% in the second quarter. Aperio Group LLC now owns 28,844 shares of the coupon company’s stock worth $111,000 after buying an additional 1,268 shares during the period. Highbridge Capital Management LLC bought a new position in Groupon during the fourth quarter worth approximately $113,000. Invictus RG increased its position in Groupon by 359.6% in the first quarter. Invictus RG now owns 28,782 shares of the coupon company’s stock worth $113,000 after buying an additional 22,520 shares during the period. Finally, FNY Managed Accounts LLC bought a new position in Groupon during the first quarter worth approximately $117,000. Hedge funds and other institutional investors own 57.28% of the company’s stock.
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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