Groupon, Inc. (GRPN) Short Interest Update
Groupon, Inc. (NASDAQ:GRPN) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 32,517,948 shares, a decrease of 5.1% from the August 15th total of 34,252,685 shares. Based on an average trading volume of 5,307,758 shares, the days-to-cover ratio is presently 6.1 days. Approximately 7.6% of the shares of the stock are sold short.
Groupon (GRPN) opened at 4.32 on Friday. The stock has a 50 day moving average price of $4.13 and a 200 day moving average price of $3.78. Groupon has a 12 month low of $2.90 and a 12 month high of $5.53. The company’s market cap is $2.40 billion.
Groupon (NASDAQ:GRPN) last announced its quarterly earnings results on Wednesday, August 2nd. The coupon company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.06. The firm had revenue of $662.60 million during the quarter, compared to analyst estimates of $668.84 million. Groupon had a negative return on equity of 13.08% and a negative net margin of 4.16%. Groupon’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share. Analysts anticipate that Groupon will post $0.12 earnings per share for the current fiscal year.
In other Groupon news, Director Peter J. Barris sold 562,719 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $3.96, for a total value of $2,228,367.24. Following the transaction, the director now directly owns 168,887 shares in the company, valued at approximately $668,792.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Sullivan sold 25,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $3.96, for a total value of $99,000.00. Following the completion of the transaction, the insider now owns 343,353 shares in the company, valued at $1,359,677.88. The disclosure for this sale can be found here. Insiders sold a total of 2,847,719 shares of company stock worth $12,252,767 over the last 90 days. Corporate insiders own 23.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in GRPN. Wells Fargo & Company MN boosted its holdings in shares of Groupon by 177.5% in the first quarter. Wells Fargo & Company MN now owns 510,797 shares of the coupon company’s stock valued at $2,008,000 after purchasing an additional 326,756 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Groupon by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 1,424,065 shares of the coupon company’s stock valued at $5,596,000 after purchasing an additional 74,298 shares during the period. Swiss National Bank boosted its holdings in shares of Groupon by 2.1% in the first quarter. Swiss National Bank now owns 708,866 shares of the coupon company’s stock valued at $2,786,000 after purchasing an additional 14,800 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Groupon by 21.3% in the first quarter. UBS Asset Management Americas Inc. now owns 294,562 shares of the coupon company’s stock valued at $1,158,000 after purchasing an additional 51,657 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in shares of Groupon in the first quarter valued at approximately $108,000. Hedge funds and other institutional investors own 56.10% of the company’s stock.
A number of brokerages have weighed in on GRPN. Royal Bank Of Canada restated a “hold” rating and issued a $4.00 target price on shares of Groupon in a research note on Friday, June 30th. BidaskClub upgraded Groupon from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Barclays PLC reiterated an “underweight” rating and issued a $3.85 price objective (up from $3.40) on shares of Groupon in a report on Wednesday, August 9th. B. Riley upgraded Groupon from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.20 to $5.50 in a report on Thursday, June 29th. Finally, Cowen and Company reiterated a “sell” rating and issued a $3.50 price objective on shares of Groupon in a report on Thursday, August 3rd. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $4.57.
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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).
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