Bank of New York Mellon Corp lowered its position in shares of Groupon Inc. (NASDAQ:GRPN) by 10.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,446,839 shares of the coupon company’s stock after selling 163,423 shares during the period. Bank of New York Mellon Corp owned approximately 0.25% of Groupon worth $4,701,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Groupon during the fourth quarter worth approximately $13,951,000. Acadian Asset Management LLC boosted its stake in shares of Groupon by 113,606.3% in the first quarter. Acadian Asset Management LLC now owns 1,023,357 shares of the coupon company’s stock worth $4,084,000 after buying an additional 1,022,457 shares during the period. Pacad Investment Ltd. boosted its stake in shares of Groupon by 448.6% in the first quarter. Pacad Investment Ltd. now owns 178,366 shares of the coupon company’s stock worth $712,000 after buying an additional 145,856 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Groupon by 2.4% in the first quarter. TIAA CREF Investment Management LLC now owns 8,906,735 shares of the coupon company’s stock worth $35,538,000 after buying an additional 205,445 shares during the period. Finally, Teachers Advisors Inc. raised its position in shares of Groupon by 25.3% in the first quarter. Teachers Advisors Inc. now owns 5,626,124 shares of the coupon company’s stock valued at $22,448,000 after buying an additional 1,135,575 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.
Groupon Inc. (NASDAQ:GRPN) traded down 2.03% on Friday, reaching $5.32. 2,873,575 shares of the company traded hands. Groupon Inc. has a 1-year low of $2.15 and a 1-year high of $5.94. The stock’s market capitalization is $3.06 billion. The stock’s 50-day moving average is $5.45 and its 200-day moving average is $4.23.
Groupon (NASDAQ:GRPN) last issued its earnings results on Wednesday, July 27th. The coupon company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business earned $756.03 million during the quarter, compared to analysts’ expectations of $710.94 million. Groupon had a negative net margin of 5.71% and a negative return on equity of 14.95%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Groupon from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Vetr upgraded shares of Groupon from a “sell” rating to a “buy” rating and set a $6.47 price objective on the stock in a report on Tuesday, August 9th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $6.50 price objective on shares of Groupon in a report on Thursday, August 18th. Jefferies Group reiterated a “hold” rating and set a $4.75 price objective on shares of Groupon in a report on Tuesday, August 23rd. Finally, Loop Capital assumed coverage on shares of Groupon in a report on Tuesday, September 13th. They set a “hold” rating and a $6.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Groupon has an average rating of “Hold” and a consensus target price of $6.56.
In other Groupon news, General Counsel Dane A. Drobny sold 30,798 shares of Groupon stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $5.48, for a total value of $168,773.04. Following the completion of the transaction, the general counsel now directly owns 320,132 shares of the company’s stock, valued at $1,754,323.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Sullivan sold 20,000 shares of Groupon stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $5.81, for a total transaction of $116,200.00. Following the completion of the transaction, the insider now directly owns 299,778 shares of the company’s stock, valued at $1,741,710.18. The disclosure for this sale can be found here. 23.86% of the stock is currently owned by company insiders.
Groupon, Inc operates online local commerce marketplaces throughout 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, the Middle East and Africa, and international operations (Rest of World).
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