Vetr Inc. Downgrades Groupon, Inc. (GRPN) to Hold
Groupon, Inc. (NASDAQ:GRPN) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday. They presently have a $5.74 price objective on the coupon company’s stock. Vetr‘s price target points to a potential upside of 2.14% from the stock’s current price.
GRPN has been the subject of several other research reports. B. Riley increased their price objective on Groupon from $5.50 to $6.30 and gave the stock a “buy” rating in a report on Wednesday, October 18th. BidaskClub cut Groupon from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded Groupon from a “hold” rating to a “strong-buy” rating and set a $6.25 target price for the company in a research note on Monday, November 6th. Barclays PLC restated an “underweight” rating and issued a $3.85 target price (up previously from $3.40) on shares of Groupon in a research note on Thursday, August 3rd. Finally, DA Davidson assumed coverage on Groupon in a research note on Friday, September 22nd. They issued a “buy” rating and a $5.00 target price for the company. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $4.97.
Groupon (NASDAQ GRPN) traded up $0.11 during midday trading on Tuesday, reaching $5.62. The company’s stock had a trading volume of 8,028,630 shares, compared to its average volume of 8,697,483. Groupon has a 1-year low of $2.90 and a 1-year high of $5.70. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.86 and a quick ratio of 0.86.
In related news, CAO Brian Stevens sold 10,000 shares of Groupon stock in a transaction on Thursday, August 24th. The stock was 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 $871,411.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric P. Lefkofsky sold 1,500,000 shares of Groupon stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $4.39, for a total value of $6,585,000.00. The disclosure for this sale can be found here. Insiders sold 2,310,000 shares of company stock valued at $10,180,150 in the last ninety days. 23.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC lifted its position in Groupon by 4.6% during the second quarter. Aperio Group LLC now owns 28,844 shares of the coupon company’s stock valued at $111,000 after purchasing an additional 1,268 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Groupon during the second quarter valued at $116,000. Prudential Financial Inc. lifted its position in Groupon by 157.7% during the second quarter. Prudential Financial Inc. now owns 31,713 shares of the coupon company’s stock valued at $122,000 after purchasing an additional 19,408 shares in the last quarter. ProShare Advisors LLC purchased a new position in Groupon during the second quarter valued at $122,000. Finally, New York State Teachers Retirement System purchased a new position in Groupon during the third quarter valued at $122,000. Institutional investors own 55.44% 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).
To view Vetr’s full report, visit Vetr’s official website.
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