Groupon, Inc. (NASDAQ:GRPN) Given Underweight Rating at Morgan Stanley
Groupon, Inc. (NASDAQ:GRPN)‘s stock had its “underweight” rating reiterated by equities researchers at Morgan Stanley in a report released on Wednesday. They currently have a $3.20 price objective on the coupon company’s stock, down from their prior price objective of $3.50. Morgan Stanley’s target price indicates a potential downside of 13.28% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Maxim Group lowered their target price on Groupon from $5.50 to $4.25 and set a “buy” rating for the company in a research note on Thursday, May 4th. Vetr lowered Groupon from a “strong-buy” rating to a “buy” rating and set a $4.26 target price for the company. in a research note on Monday, May 1st. B. Riley raised Groupon from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.20 to $5.50 in a research note on Thursday, June 29th. Loop Capital reissued a “hold” rating on shares of Groupon in a research note on Wednesday, April 19th. Finally, Jefferies Group LLC reissued a “hold” rating on shares of Groupon in a research note on Friday, May 5th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Groupon presently has an average rating of “Hold” and a consensus price target of $4.54.
Shares of Groupon (GRPN) traded up 1.63% during trading on Wednesday, reaching $3.75. The company’s stock had a trading volume of 3,881,361 shares. The stock’s 50 day moving average price is $3.48 and its 200 day moving average price is $3.68. Groupon has a 52 week low of $2.90 and a 52 week high of $5.94. The company’s market cap is $2.10 billion.
Groupon (NASDAQ:GRPN) last released its earnings results on Wednesday, May 3rd. The coupon company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.06. Groupon had a negative return on equity of 22.40% and a negative net margin of 5.51%. The company had revenue of $673.63 million during the quarter, compared to analyst estimates of $721.93 million. During the same quarter in the previous year, the company posted ($0.01) EPS. Groupon’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts predict that Groupon will post $0.10 EPS for the current year.
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In other Groupon news, General Counsel Dane A. Drobny sold 47,753 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $3.59, for a total transaction of $171,433.27. Following the sale, the general counsel now directly owns 377,721 shares in the company, valued at approximately $1,356,018.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter J. Barris sold 281,352 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $3.04, for a total value of $855,310.08. Following the sale, the director now owns 116,923 shares in the company, valued at $355,445.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 359,105 shares of company stock worth $1,129,243. Company insiders own 23.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of GRPN. State of New Jersey Common Pension Fund D acquired a new stake in shares of Groupon during the first quarter valued at approximately $18,078,000. Norges Bank acquired a new stake in shares of Groupon during the fourth quarter valued at approximately $11,260,000. Bogle Investment Management L P DE acquired a new stake in shares of Groupon during the first quarter valued at approximately $8,941,000. Crawford Lake Capital Management LLC acquired a new stake in shares of Groupon during the first quarter valued at approximately $7,033,000. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Groupon during the first quarter valued at approximately $1,867,000. Institutional investors and hedge funds own 57.27% 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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