Groupon Inc. (NASDAQ:GRPN) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 45,289,617 shares, a decline of 5.1% from the August 31st total of 47,700,692 shares. Based on an average daily volume of 5,305,645 shares, the days-to-cover ratio is currently 8.5 days. Approximately 10.9% of the company’s shares are short sold.
Groupon (NASDAQ:GRPN) opened at 5.26 on Thursday. The firm’s 50-day moving average price is $5.40 and its 200 day moving average price is $4.25. The firm’s market cap is $3.02 billion. Groupon has a 52-week low of $2.15 and a 52-week high of $5.94.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Wednesday, July 27th. The coupon company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The business earned $756.03 million during the quarter, compared to the consensus estimate of $710.94 million. Groupon had a negative return on equity of 14.95% and a negative net margin of 5.71%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.02 earnings per share.
A number of brokerages have recently weighed in on GRPN. Vetr raised Groupon from a “sell” rating to a “buy” rating and set a $4.20 price objective for the company in a research note on Monday, July 18th. Jefferies Group reaffirmed a “hold” rating on shares of Groupon in a research note on Monday, July 11th. B. Riley reaffirmed a “neutral” rating and issued a $4.50 price objective on shares of Groupon in a research note on Tuesday, August 2nd. Goldman Sachs Group Inc. lifted their price objective on Groupon from $4.10 to $4.40 and gave the company a “neutral” rating in a research note on Thursday, July 28th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Groupon in a research note on Thursday, July 28th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.49.
In other news, insider James Sullivan sold 20,000 shares of Groupon stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $5.81, for a total value of $116,200.00. Following the completion of the sale, the insider now directly owns 299,778 shares of the company’s stock, valued at $1,741,710.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Dane A. Drobny sold 30,798 shares of Groupon stock in a transaction on 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 sale, the general counsel now directly owns 320,132 shares of the company’s stock, valued at $1,754,323.36. The disclosure for this sale can be found here. 23.86% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Concourse Capital Management LLC purchased a new position in Groupon during the second quarter worth approximately $104,000. M&T Bank Corp acquired a new position in shares of Groupon during the first quarter worth about $107,000. Jasper Ridge Partners L.P. acquired a new position in shares of Groupon during the second quarter worth about $108,000. Royal Bank of Canada boosted its position in shares of Groupon by 80.0% in the second quarter. Royal Bank of Canada now owns 33,375 shares of the coupon company’s stock worth $109,000 after buying an additional 14,829 shares in the last quarter. Finally, Invictus RG boosted its position in shares of Groupon by 79.9% in the first quarter. Invictus RG now owns 30,777 shares of the coupon company’s stock worth $123,000 after buying an additional 13,670 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.
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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