Groupon (NASDAQ:GRPN) Stock Price Up 8.6% – Here’s What Happened

Groupon, Inc. (NASDAQ:GRPN)’s share price shot up 8.6% during trading on Wednesday . The company traded as high as $13.60 and last traded at $13.6750. 551,670 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 1,228,598 shares. The stock had previously closed at $12.59.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GRPN. Weiss Ratings restated a “sell (d)” rating on shares of Groupon in a report on Monday, December 29th. The Goldman Sachs Group reduced their target price on shares of Groupon from $17.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Groupon currently has a consensus rating of “Hold” and an average target price of $33.67.

Groupon Stock Up 6.0%

The firm has a market cap of $543.88 million, a PE ratio of -6.30 and a beta of -0.04. The business has a 50 day simple moving average of $11.88 and a two-hundred day simple moving average of $15.95.

Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Tuesday, March 10th. The coupon company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). Groupon had a negative return on equity of 717.37% and a negative net margin of 16.76%.The company had revenue of $132.71 million during the quarter, compared to the consensus estimate of $137.34 million. Equities analysts forecast that Groupon, Inc. will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Groupon in the 3rd quarter worth $2,030,000. Quantbot Technologies LP purchased a new stake in Groupon in the third quarter worth about $2,263,000. Counterpoint Mutual Funds LLC grew its holdings in Groupon by 1,008.6% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 121,439 shares of the coupon company’s stock worth $2,836,000 after acquiring an additional 110,485 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Groupon during the 3rd quarter worth about $1,887,000. Finally, Generali Investments CEE investicni spolecnost a.s. increased its position in Groupon by 147.7% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 528,089 shares of the coupon company’s stock valued at $9,300,000 after purchasing an additional 314,896 shares during the period. Institutional investors own 90.05% of the company’s stock.

About Groupon

Groupon, Inc operates an online marketplace that connects subscribers with local merchants offering discounted goods, services and experiences. Through its website and mobile applications, Groupon provides time-limited deals across categories such as restaurants, travel, beauty and wellness, home services, and consumer products. Merchants partner with Groupon to attract new customers and drive foot traffic, leveraging the platform’s targeted marketing tools and large subscriber base to promote special offers and vouchers.

Founded in Chicago in 2008 by Andrew Mason, Eric Lefkofsky and Brad Keywell, Groupon pioneered the daily-deals model, quickly growing its user community and merchant network.