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.
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.
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