Goldman Sachs Group, Inc. (The) reaffirmed their sell rating on shares of Groupon, Inc. (NASDAQ:GRPN) in a report released on Wednesday morning. The firm currently has a $4.70 price objective on the coupon company’s stock.
Other research analysts have also issued research reports about the company. B. Riley raised Groupon to a buy rating and set a $5.50 target price on the stock in a report on Tuesday, July 4th. Royal Bank Of Canada reissued a hold rating and issued a $4.00 target price on shares of Groupon in a report on Friday, June 30th. Bank of America Corporation reissued an underperform rating and issued a $3.50 target price on shares of Groupon in a report on Friday, July 21st. Wedbush reissued a positive rating and issued a $4.08 target price (down previously from $4.50) on shares of Groupon in a report on Wednesday, August 23rd. Finally, Morgan Stanley restated an underweight rating and issued a $3.20 price target (down from $3.50) on shares of Groupon in a research note on Wednesday, July 26th. Seven analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $4.57.
Groupon (GRPN) traded down 3.31% during midday trading on Wednesday, reaching $4.67. The company’s stock had a trading volume of 7,860,386 shares. The stock’s market cap is $2.60 billion. The stock’s 50 day moving average is $4.58 and its 200 day moving average is $3.88. Groupon has a 12-month low of $2.90 and a 12-month high of $5.38.
Groupon (NASDAQ:GRPN) last released its earnings results on Wednesday, August 2nd. The coupon company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. The business had revenue of $662.60 million for the quarter, compared to analyst estimates of $668.84 million. Groupon had a negative return on equity of 13.08% and a negative net margin of 4.16%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) earnings per share. Analysts anticipate that Groupon will post $0.12 earnings per share for the current year.
In other news, CAO Brian Stevens sold 10,000 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $4.04, for a total value of $40,400.00. Following the sale, the chief accounting officer now directly owns 215,696 shares in the company, valued at $871,411.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric P. Lefkofsky sold 1,500,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $4.39, for a total value of $6,585,000.00. The disclosure for this sale can be found here. Insiders sold 2,872,719 shares of company stock worth $12,375,267 over the last 90 days. Company insiders own 23.40% of the company’s stock.
Several large investors have recently modified their holdings of GRPN. First Trust Advisors LP lifted its position in shares of Groupon by 43.4% in the second quarter. First Trust Advisors LP now owns 16,324,191 shares of the coupon company’s stock valued at $62,685,000 after acquiring an additional 4,937,648 shares in the last quarter. State Street Corp lifted its position in shares of Groupon by 38.2% in the second quarter. State Street Corp now owns 8,827,043 shares of the coupon company’s stock valued at $33,898,000 after acquiring an additional 2,440,783 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Groupon by 8.1% in the second quarter. Vanguard Group Inc. now owns 32,453,440 shares of the coupon company’s stock valued at $124,620,000 after acquiring an additional 2,430,907 shares in the last quarter. Ulysses Management LLC purchased a new stake in shares of Groupon in the second quarter valued at $5,760,000. Finally, AXA purchased a new stake in shares of Groupon in the second quarter valued at $5,332,000. Institutional investors and hedge funds own 56.08% of the company’s stock.
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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