Short Interest in Groupon, Inc. (GRPN) Rises By 15.0%
Groupon, Inc. (NASDAQ:GRPN) was the recipient of a large increase in short interest in September. As of September 29th, there was short interest totalling 37,352,394 shares, an increase of 15.0% from the September 15th total of 32,470,686 shares. Approximately 8.8% of the shares of the company are short sold. Based on an average daily volume of 7,672,637 shares, the days-to-cover ratio is currently 4.9 days.
Groupon (NASDAQ:GRPN) opened at 4.83 on Thursday. Groupon has a 12 month low of $2.90 and a 12 month high of $5.38. The firm’s market cap is $2.69 billion. The stock’s 50 day moving average is $4.58 and its 200 day moving average is $3.88.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings data on Wednesday, August 2nd. The coupon company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.06. Groupon had a negative return on equity of 13.08% and a negative net margin of 4.16%. The firm had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $668.84 million. During the same quarter last year, the business posted ($0.01) EPS. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, equities analysts forecast that Groupon will post $0.12 earnings per share for the current year.
Several equities research analysts recently commented on the stock. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $4.70 price target on shares of Groupon in a report on Wednesday. Vetr lowered shares of Groupon from a “strong-buy” rating to a “buy” rating and set a $5.83 price target for the company. in a report on Wednesday, October 4th. DA Davidson assumed coverage on shares of Groupon in a report on Friday, September 22nd. They issued a “buy” rating and a $5.00 price target for the company. Piper Jaffray Companies reissued a “buy” rating and issued a $5.50 price target on shares of Groupon in a report on Thursday, September 21st. Finally, Wedbush reissued a “positive” rating and issued a $4.08 price target (down previously from $4.50) on shares of Groupon in a report on Wednesday, August 23rd. Seven analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $4.57.
In related news, CAO Brian Stevens sold 10,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $4.04, for a total value of $40,400.00. Following the completion of the sale, the chief accounting officer now owns 215,696 shares of the company’s stock, valued at approximately $871,411.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Sullivan sold 25,000 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $4.90, for a total transaction of $122,500.00. Following the completion of the sale, the insider now directly owns 353,524 shares of the company’s stock, valued at approximately $1,732,267.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,872,719 shares of company stock valued at $12,375,267. Insiders own 23.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in shares of Groupon in the 2nd quarter valued at about $116,000. Raymond James Financial Services Advisors Inc. lifted its position in Groupon by 14.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 58,487 shares of the coupon company’s stock worth $225,000 after acquiring an additional 7,407 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Groupon by 1,570.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 271,342 shares of the coupon company’s stock worth $1,042,000 after acquiring an additional 255,098 shares in the last quarter. State Street Corp increased its holdings in Groupon by 38.2% during the 2nd quarter. State Street Corp now owns 8,827,043 shares of the coupon company’s stock worth $33,898,000 after purchasing an additional 2,440,783 shares during the last quarter. Finally, Ulysses Management LLC purchased a new stake in Groupon during the 2nd quarter worth approximately $5,760,000. 56.08% of the stock is currently owned by institutional investors and hedge funds.
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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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