Shares of Groupon, Inc. (NASDAQ:GRPN) gapped down before the market opened on Wednesday . The stock had previously closed at $5.18, but opened at $4.99. Groupon shares last traded at $4.83, with a volume of 9,438,651 shares changing hands.
GRPN has been the topic of several recent research reports. BidaskClub upgraded Groupon from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Cowen and Company reiterated an “underperform” rating and issued a $3.00 target price on shares of Groupon in a research note on Wednesday, June 28th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $5.50 target price on shares of Groupon in a research note on Wednesday, June 28th. B. Riley upgraded Groupon from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.20 to $5.50 in a research note on Thursday, June 29th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $4.00 target price on shares of Groupon in a research note on Friday, June 30th. Seven investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Groupon currently has an average rating of “Hold” and an average target price of $4.57.
Groupon (NASDAQ:GRPN) last issued its quarterly earnings results on Wednesday, August 2nd. The coupon company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $662.60 million for the quarter, compared to the consensus estimate of $668.84 million. During the same quarter in the prior year, the business earned ($0.01) EPS. Groupon’s revenue was down 8.5% on a year-over-year basis.
In other news, CAO Brian Stevens sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $4.04, for a total transaction of $40,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 215,696 shares of the company’s stock, valued at approximately $871,411.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 of the company’s stock, valued at $668,792.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,872,719 shares of company stock worth $12,375,267. 23.40% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Karp Capital Management Corp acquired a new position in shares of Groupon during the 1st quarter worth about $108,000. Aperio Group LLC boosted its position in shares of Groupon by 4.6% during the 2nd quarter. Aperio Group LLC now owns 28,844 shares of the coupon company’s stock worth $111,000 after acquiring an additional 1,268 shares in the last quarter. Invictus RG boosted its position in shares of Groupon by 359.6% during the 1st quarter. Invictus RG now owns 28,782 shares of the coupon company’s stock worth $113,000 after acquiring an additional 22,520 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Groupon during the 2nd quarter worth about $116,000. Finally, FNY Managed Accounts LLC acquired a new position in shares of Groupon during the 1st quarter worth about $117,000. 56.08% of the stock is owned by institutional investors and hedge funds.
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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