CWM LLC cut its position in shares of Groupon, Inc. (NASDAQ:GRPN) by 7.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 892,581 shares of the coupon company’s stock after selling 75,674 shares during the period. CWM LLC owned about 0.16% of Groupon worth $3,428,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State of New Jersey Common Pension Fund D acquired a new position in Groupon during the first quarter worth about $18,078,000. Norges Bank purchased a new position in Groupon during the fourth quarter valued at $11,260,000. Bogle Investment Management L P DE purchased a new position in Groupon during the first quarter valued at $8,941,000. Crawford Lake Capital Management LLC purchased a new position in Groupon during the first quarter valued at $7,033,000. Finally, Eagle Asset Management Inc. purchased a new position in Groupon during the first quarter valued at $1,867,000. 56.27% of the stock is owned by hedge funds and other institutional investors.
Shares of Groupon, Inc. (NASDAQ GRPN) opened at 3.95 on Friday. The company’s 50 day moving average price is $3.82 and its 200 day moving average price is $3.72. Groupon, Inc. has a 12-month low of $2.90 and a 12-month high of $5.80. The firm’s market cap is $2.20 billion.
Groupon (NASDAQ:GRPN) last released its quarterly earnings results on Wednesday, August 2nd. The coupon company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.06. Groupon had a negative net margin of 4.16% and a negative return on equity of 13.08%. The firm had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $668.84 million. During the same period in the previous year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities research analysts forecast that Groupon, Inc. will post $0.12 EPS for the current year.
GRPN has been the subject of several recent research reports. Vetr raised Groupon from a “buy” rating to a “strong-buy” rating and set a $4.39 price target for the company in a research report on Wednesday, May 3rd. Jefferies Group LLC reissued a “hold” rating on shares of Groupon in a research report on Monday, May 15th. Morgan Stanley lowered Groupon from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $3.90 to $3.50 in a research note on Monday, April 24th. BidaskClub upgraded Groupon from a “strong sell” rating to a “sell” rating in a research note on Friday, June 16th. Finally, B. Riley upgraded Groupon from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.20 to $5.50 in a research note on Thursday, June 29th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $4.59.
In other Groupon news, Director Peter J. Barris sold 281,352 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $3.04, for a total value of $855,310.08. Following the completion of the sale, the director now directly owns 116,923 shares of the company’s stock, valued at approximately $355,445.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter J. Barris sold 562,719 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $3.96, for a total transaction of $2,228,367.24. Following the completion of the sale, the director now directly owns 168,887 shares of the company’s stock, valued at $668,792.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 854,071 shares of company stock valued at $3,115,177. 23.40% of the stock is owned by corporate insiders.
Groupon, Inc operates online local commerce marketplaces around 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, and the Middle East and Africa, and the remainder of its international operations (Rest of World).
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