Groupon, Inc. (GRPN) Sees Significant Decline in Short Interest
Groupon, Inc. (NASDAQ:GRPN) was the recipient of a large drop in short interest in the month of October. As of October 13th, there was short interest totalling 34,729,923 shares, a drop of 7.0% from the September 29th total of 37,352,394 shares. Based on an average daily volume of 6,764,873 shares, the short-interest ratio is presently 5.1 days. Approximately 8.2% of the shares of the stock are short sold.
In other Groupon news, Director Peter J. Barris sold 562,719 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $3.96, for a total value of $2,228,367.24. Following the completion of the transaction, the director now directly owns 168,887 shares of the company’s stock, valued at approximately $668,792.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James Sullivan sold 25,000 shares of Groupon stock in a transaction on Monday, August 14th. The stock was sold at an average price of $3.96, for a total transaction of $99,000.00. Following the sale, the insider now directly owns 343,353 shares of the company’s stock, valued at $1,359,677.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,872,719 shares of company stock valued at $12,375,267. Insiders own 23.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. AXA purchased a new position in Groupon in the second quarter valued at approximately $5,332,000. Nationwide Fund Advisors purchased a new position in Groupon in the second quarter valued at approximately $1,093,000. Geode Capital Management LLC increased its stake in Groupon by 6.8% in the first quarter. Geode Capital Management LLC now owns 3,145,124 shares of the coupon company’s stock valued at $12,360,000 after purchasing an additional 200,246 shares during the last quarter. Quantbot Technologies LP increased its stake in Groupon by 150.3% in the second quarter. Quantbot Technologies LP now owns 300,100 shares of the coupon company’s stock valued at $1,152,000 after purchasing an additional 180,200 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Groupon by 258.3% in the first quarter. Legal & General Group Plc now owns 146,258 shares of the coupon company’s stock valued at $574,000 after purchasing an additional 105,443 shares during the last quarter. Institutional investors own 56.07% of the company’s stock.
A number of analysts have recently issued reports on GRPN shares. B. Riley raised shares of Groupon from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $4.20 to $5.50 in a report on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $4.00 price objective on shares of Groupon in a report on Friday, June 30th. Morgan Stanley reiterated an “underweight” rating and issued a $3.20 target price (down previously from $3.50) on shares of Groupon in a research report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $4.70 target price on shares of Groupon in a research report on Wednesday, October 11th. Finally, Vetr cut shares of Groupon from a “strong-buy” rating to a “buy” rating and set a $5.83 target price on the stock. in a research report on Wednesday, October 4th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Groupon has an average rating of “Hold” and an average price target of $4.71.
Groupon (NASDAQ:GRPN) opened at 4.61 on Friday. Groupon has a 1-year low of $2.90 and a 1-year high of $5.34. The company has a 50-day moving average of $4.72 and a 200 day moving average of $3.94. The stock’s market cap is $2.56 billion.
Groupon (NASDAQ:GRPN) last released its earnings results on Wednesday, August 2nd. The coupon company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.06. Groupon had a negative net margin of 4.16% and a negative return on equity of 13.08%. The firm had revenue of $662.60 million for the quarter, compared to analyst estimates of $668.84 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. Analysts predict that Groupon will post $0.12 EPS for the current year.
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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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