State Street Corp lowered its stake in Groupon, Inc. (NASDAQ:GRPN) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,386,260 shares of the coupon company’s stock after selling 207,071 shares during the period. State Street Corp owned 1.14% of Groupon worth $25,094,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Groupon during the fourth quarter valued at approximately $11,260,000. HRT Financial LLC increased its stake in shares of Groupon by 50.8% in the first quarter. HRT Financial LLC now owns 51,080 shares of the coupon company’s stock valued at $200,000 after buying an additional 17,204 shares during the period. Swiss National Bank increased its stake in shares of Groupon by 2.1% in the first quarter. Swiss National Bank now owns 708,866 shares of the coupon company’s stock valued at $2,786,000 after buying an additional 14,800 shares during the period. TLP Group LLC bought a new stake in shares of Groupon during the first quarter valued at approximately $384,000. Finally, Hamilton Lane Advisors LLC increased its stake in shares of Groupon by 540.6% in the first quarter. Hamilton Lane Advisors LLC now owns 114,146 shares of the coupon company’s stock valued at $449,000 after buying an additional 96,327 shares during the period. Hedge funds and other institutional investors own 57.64% of the company’s stock.
Shares of Groupon, Inc. (GRPN) opened at 3.99 on Friday. Groupon, Inc. has a 1-year low of $2.90 and a 1-year high of $5.65. The stock’s 50 day moving average price is $3.89 and its 200-day moving average price is $3.74. The company’s market capitalization is $2.22 billion.
Groupon (NASDAQ:GRPN) last released its quarterly earnings data on Wednesday, August 2nd. The coupon company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.06. Groupon had a negative return on equity of 13.08% and a negative net margin of 4.16%. The company had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $668.84 million. During the same period last year, the firm posted ($0.01) earnings per share. Groupon’s revenue was down 8.5% compared to the same quarter last year. On average, equities analysts predict that Groupon, Inc. will post $0.12 EPS for the current year.
GRPN has been the subject of several recent analyst reports. Maxim Group reduced their price objective on shares of Groupon from $5.50 to $4.25 and set a “buy” rating for the company in a research report on Thursday, May 4th. B. Riley reaffirmed a “buy” rating and set a $5.50 price objective on shares of Groupon in a research report on Thursday, August 3rd. Vetr raised shares of Groupon from a “buy” rating to a “strong-buy” rating and set a $4.39 price objective for the company in a research report on Wednesday, May 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $3.20 price objective (down previously from $3.50) on shares of Groupon in a research report on Wednesday, July 26th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $5.50 price objective on shares of Groupon in a research report on Wednesday, June 28th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $4.59.
In related news, CAO Brian Stevens sold 10,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $3.15, for a total transaction of $31,500.00. Following the sale, the chief accounting officer now directly owns 204,141 shares of the company’s stock, valued at $643,044.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter J. Barris sold 562,719 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $3.96, for a total value of $2,228,367.24. Following the sale, the director now directly owns 168,887 shares in the company, valued at $668,792.52. The disclosure for this sale can be found here. Insiders have sold 879,071 shares of company stock worth $3,214,177 over the last ninety days. 23.40% of the stock is currently owned by insiders.
Groupon Company Profile
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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