Arizona State Retirement System Makes New $269,000 Investment in Groupon, Inc. (NASDAQ:GRPN)

Arizona State Retirement System acquired a new position in Groupon, Inc. (NASDAQ:GRPN) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 7,083 shares of the coupon company’s stock, valued at approximately $269,000.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. purchased a new position in Groupon in the third quarter worth $41,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Groupon by 83.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,807 shares of the coupon company’s stock valued at $57,000 after buying an additional 1,280 shares during the last quarter. First Quadrant L P CA purchased a new position in shares of Groupon during the 3rd quarter valued at $91,000. Aperio Group LLC purchased a new position in shares of Groupon during the 3rd quarter valued at $200,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Groupon during the 3rd quarter valued at $220,000. 62.96% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on GRPN. Wedbush dropped their price target on Groupon from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. Morgan Stanley upped their price target on Groupon from $21.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, January 15th. Finally, Credit Suisse Group upped their price target on Groupon from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, November 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Groupon currently has a consensus rating of “Hold” and a consensus price target of $28.63.

Shares of GRPN opened at $40.94 on Tuesday. The stock’s 50-day simple moving average is $35.25 and its 200 day simple moving average is $29.80. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -5.10 and a beta of 2.58. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.99 and a current ratio of 0.99. Groupon, Inc. has a 52-week low of $9.60 and a 52-week high of $41.49.

Groupon Company Profile

Groupon, Inc operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount in North America and internationally. The company provides deals in various categories, including events and activities; health, beauty, and wellness; food and drink; home and garden; automotive; discounted and market rates for hotel, airfare, and package deals, as well as deals on various product lines, such as electronics, sporting goods, jewelry, toys, household items, and apparel.

Read More: What is an investor looking for in an SEC filing?

Want to see what other hedge funds are holding GRPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Groupon, Inc. (NASDAQ:GRPN).

Institutional Ownership by Quarter for Groupon (NASDAQ:GRPN)

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