Groupon (NASDAQ:GRPN) Trading Down 4.8% – Here’s Why

Shares of Groupon, Inc. (NASDAQ:GRPNGet Free Report) fell 4.8% during mid-day trading on Tuesday . The company traded as low as $26.55 and last traded at $26.60. Approximately 584,642 shares traded hands during trading, a decline of 64% from the average session volume of 1,632,478 shares. The stock had previously closed at $27.95.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GRPN shares. Citigroup restated an “outperform” rating on shares of Groupon in a report on Tuesday, June 9th. The Goldman Sachs Group reissued a “sell” rating and issued a $13.00 target price (up from $10.00) on shares of Groupon in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Groupon in a research note on Tuesday, June 9th. Wall Street Zen cut shares of Groupon from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Northland Securities set a $26.00 price objective on shares of Groupon in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.50.

Get Our Latest Stock Analysis on Groupon

Groupon Stock Down 3.7%

The stock has a market capitalization of $1.02 billion, a P/E ratio of -10.31 and a beta of 0.23. The stock has a 50 day simple moving average of $20.62 and a two-hundred day simple moving average of $16.10.

Groupon (NASDAQ:GRPNGet Free Report) last announced its quarterly earnings data on Thursday, May 7th. The coupon company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). The firm had revenue of $117.20 million during the quarter, compared to the consensus estimate of $117.65 million. Sell-side analysts predict that Groupon, Inc. will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Groupon

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Groupon by 22.2% in the third quarter. Vanguard Group Inc. now owns 2,108,578 shares of the coupon company’s stock valued at $49,235,000 after buying an additional 383,277 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Groupon by 552.5% during the 2nd quarter. Bank of America Corp DE now owns 1,136,524 shares of the coupon company’s stock worth $38,017,000 after acquiring an additional 962,337 shares during the last quarter. Garnet Equity Capital Holdings Inc. raised its stake in Groupon by 4.4% in the 4th quarter. Garnet Equity Capital Holdings Inc. now owns 958,660 shares of the coupon company’s stock valued at $16,882,000 after acquiring an additional 40,000 shares during the period. State Street Corp lifted its holdings in Groupon by 25.8% during the 4th quarter. State Street Corp now owns 881,422 shares of the coupon company’s stock valued at $15,522,000 after purchasing an additional 180,992 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Groupon by 749.0% during the 4th quarter. Millennium Management LLC now owns 791,498 shares of the coupon company’s stock valued at $13,938,000 after purchasing an additional 698,270 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

About Groupon

(Get Free Report)

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.

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