Groupon (NASDAQ:GRPN) Stock Price Down 6.9% – Here’s Why

Shares of Groupon, Inc. (NASDAQ:GRPN) traded down 6.9% during trading on Monday. The stock traded as low as $20.19 and last traded at $19.8210. 271,686 shares changed hands during trading, a decline of 82% from the average daily volume of 1,548,750 shares. The stock had previously closed at $21.30.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GRPN shares. The Goldman Sachs Group reiterated a “sell” rating and issued a $22.00 price target on shares of Groupon in a report on Monday, August 10th. Northland Securities set a $30.00 price target on Groupon in a research note on Monday, August 17th. Wall Street Zen upgraded Groupon from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Groupon in a research report on Friday, September 4th. Finally, Citigroup reiterated an “outperform” rating on shares of Groupon in a report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $26.00.

Groupon Stock Performance

The company has a fifty day moving average price of $22.00 and a two-hundred day moving average price of $18.69. The company has a market cap of $800.43 million, a P/E ratio of -6.33 and a beta of 0.24.

Groupon (NASDAQ:GRPN) last issued its quarterly earnings results on Thursday, August 6th. The coupon company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $124.67 million for the quarter, compared to analyst estimates of $127.09 million. Research analysts anticipate that Groupon, Inc. will post -0.14 EPS for the current year.

Institutional Trading of Groupon

A number of large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Groupon by 92.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,299 shares of the coupon company’s stock valued at $31,000 after purchasing an additional 625 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Groupon by 135.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,185 shares of the coupon company’s stock valued at $56,000 after buying an additional 1,835 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Groupon by 10.6% during the 1st quarter. Royal Bank of Canada now owns 7,618 shares of the coupon company’s stock worth $90,000 after acquiring an additional 731 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Groupon by 13.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,129 shares of the coupon company’s stock worth $316,000 after acquiring an additional 1,553 shares during the period. Finally, Headlands Technologies LLC increased its holdings in shares of Groupon by 10.1% during the 2nd quarter. Headlands Technologies LLC now owns 15,054 shares of the coupon company’s stock worth $362,000 after acquiring an additional 1,382 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Groupon Company Profile

Groupon, Inc (NASDAQ: GRPN) operates a digital marketplace that connects consumers with local merchants and service providers. Through its website and mobile applications, the company offers discounted deals and promotions for restaurants, entertainment, travel, beauty and wellness, automotive services, home services, and other local experiences.

Groupon’s platform is designed to help merchants attract new customers, promote available services and manage marketing offers, while giving consumers access to discounts and curated experiences in their communities.