Groupon, Inc. (GRPN) Shares Gap Down to $4.99

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.

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About Groupon

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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