Groupon Inc (NASDAQ:GRPN) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 43,629,752 shares, a decline of 14.4% from the October 15th total of 50,956,961 shares. Currently, 9.8% of the company’s stock are short sold. Based on an average daily volume of 6,634,677 shares, the days-to-cover ratio is presently 6.6 days.
In related news, Director Eric P. Lefkofsky sold 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $3.82, for a total transaction of $5,730,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRPN. BlackRock Inc. increased its position in Groupon by 29.9% during the second quarter. BlackRock Inc. now owns 29,790,452 shares of the coupon company’s stock worth $128,101,000 after buying an additional 6,856,566 shares during the period. First Trust Advisors LP increased its position in Groupon by 23.8% during the third quarter. First Trust Advisors LP now owns 23,581,289 shares of the coupon company’s stock worth $88,901,000 after buying an additional 4,530,364 shares during the period. Millennium Management LLC acquired a new position in Groupon during the second quarter worth approximately $18,865,000. Segall Bryant & Hamill LLC acquired a new position in Groupon during the second quarter worth approximately $16,507,000. Finally, Pinnacle Associates Ltd. increased its position in Groupon by 654.8% during the second quarter. Pinnacle Associates Ltd. now owns 4,075,670 shares of the coupon company’s stock worth $17,525,000 after buying an additional 3,535,720 shares during the period. 66.15% of the stock is currently owned by institutional investors.
GRPN opened at $2.96 on Friday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -98.67, a PEG ratio of 13.87 and a beta of 1.75. Groupon has a 52 week low of $2.89 and a 52 week high of $5.99. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.72.
Groupon (NASDAQ:GRPN) last released its quarterly earnings results on Wednesday, November 7th. The coupon company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $602.08 million. Groupon had a negative return on equity of 27.12% and a negative net margin of 1.97%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities analysts predict that Groupon will post 0.08 earnings per share for the current fiscal year.
GRPN has been the subject of several recent analyst reports. Wedbush restated a “neutral” rating and set a $4.00 target price on shares of Groupon in a research note on Thursday, September 13th. Zacks Investment Research upgraded Groupon from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Monday, October 8th. BidaskClub cut Groupon from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. B. Riley decreased their target price on Groupon from $6.30 to $5.60 and set a “buy” rating for the company in a research note on Thursday. Finally, TheStreet cut Groupon from a “c-” rating to a “d+” rating in a research note on Wednesday, September 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Groupon currently has an average rating of “Hold” and a consensus target price of $5.20.
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Groupon, Inc operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount in North America and internationally. The company provides deals in various categories, including events and activities, beauty and spa, health and fitness, food and drink, home and garden, and automotive; and deals on various product lines, such as electronics, sporting goods, jewelries, toys, household items, and apparel, as well as provides discounted and market rates for hotel, airfare, and package deals.
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