Groupon, Inc. (NASDAQ:GRPN – Get Free Report)’s share price rose 6.3% during trading on Monday . The stock traded as high as $20.78 and last traded at $20.2840. Approximately 336,732 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 1,551,784 shares. The stock had previously closed at $19.08.
Analyst Ratings Changes
GRPN has been the subject of several research analyst reports. Wall Street Zen upgraded Groupon from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Northland Securities set a $30.00 price target on Groupon in a report on Monday, August 17th. Citigroup restated an “outperform” rating on shares of Groupon in a research note on Tuesday, June 9th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $22.00 price objective on shares of Groupon in a report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Groupon in a report on Friday, September 4th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Groupon has an average rating of “Reduce” and an average target price of $26.00.
Get Our Latest Research Report on GRPN
Groupon Stock Performance
Groupon (NASDAQ:GRPN – Get Free Report) last issued its earnings results on Thursday, August 6th. The coupon company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $124.67 million during the quarter, compared to the consensus estimate of $127.09 million. On average, equities research analysts predict that Groupon, Inc. will post -0.14 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its position in Groupon by 64.2% in the first quarter. Bank of America Corp DE now owns 636,480 shares of the coupon company’s stock worth $7,574,000 after purchasing an additional 248,928 shares during the last quarter. Renaissance Technologies LLC lifted its position in Groupon by 464.1% during the first quarter. Renaissance Technologies LLC now owns 619,413 shares of the coupon company’s stock valued at $7,371,000 after purchasing an additional 509,600 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Groupon by 28.3% during the first quarter. Dimensional Fund Advisors LP now owns 580,873 shares of the coupon company’s stock valued at $6,910,000 after purchasing an additional 128,097 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Groupon by 37.0% in the 1st quarter. SG Americas Securities LLC now owns 270,682 shares of the coupon company’s stock worth $3,221,000 after buying an additional 73,136 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Groupon in the 1st quarter worth $2,416,000. 90.05% of the stock is currently owned by institutional investors.
About Groupon
Groupon, Inc (NASDAQ: GRPN) operates a digital marketplace that connects consumers with local merchants and service providers. Through its website and mobile applications, the company offers discounted deals and promotions for restaurants, entertainment, travel, beauty and wellness, automotive services, home services, and other local experiences.
Groupon’s platform is designed to help merchants attract new customers, promote available services and manage marketing offers, while giving consumers access to discounts and curated experiences in their communities.
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