Groupon Inc. (GRPN) Sees Significant Drop in Short Interest
Groupon Inc. (NASDAQ:GRPN) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 39,317,226 shares, a drop of 10.4% from the October 31st total of 43,886,069 shares. Based on an average daily volume of 17,698,053 shares, the short-interest ratio is presently 2.2 days. Currently, 9.5% of the company’s shares are short sold.
Groupon (NASDAQ:GRPN) opened at 3.97 on Thursday. The firm’s market capitalization is $2.28 billion. Groupon has a one year low of $2.15 and a one year high of $5.94. The stock has a 50 day moving average of $4.40 and a 200-day moving average of $4.39.
Groupon (NASDAQ:GRPN) last posted its earnings results on Wednesday, October 26th. The coupon company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The firm earned $720.50 million during the quarter, compared to the consensus estimate of $710.82 million. Groupon had a negative net margin of 6.03% and a negative return on equity of 29.46%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS.
Several equities research analysts recently issued reports on the stock. Piper Jaffray Cos. restated an “overweight” rating and set a $6.50 price objective on shares of Groupon in a research report on Friday, October 28th. Boenning Scattergood assumed coverage on shares of Groupon in a research report on Thursday, September 29th. They set a “neutral” rating for the company. Vetr upgraded shares of Groupon from a “sell” rating to a “buy” rating and set a $6.47 price target for the company in a research report on Tuesday, August 9th. Loop Capital reiterated a “hold” rating and set a $6.00 price target on shares of Groupon in a research report on Wednesday, October 26th. Finally, Wedbush reiterated an “outperform” rating and set a $6.50 price target on shares of Groupon in a research report on Thursday, October 27th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Groupon currently has an average rating of “Hold” and a consensus price target of $4.94.
In related news, insider James Sullivan sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $3.80, for a total transaction of $76,000.00. Following the completion of the sale, the insider now directly owns 302,173 shares in the company, valued at $1,148,257.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Dane A. Drobny sold 30,798 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $5.48, for a total transaction of $168,773.04. Following the sale, the general counsel now owns 320,132 shares of the company’s stock, valued at $1,754,323.36. The disclosure for this sale can be found here. Corporate insiders own 23.86% of the company’s stock.
A number of hedge funds have recently bought and sold shares of GRPN. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in Groupon during the third quarter worth about $30,647,000. D. E. Shaw & Co. Inc. increased its stake in shares of Groupon by 81.1% in the third quarter. D. E. Shaw & Co. Inc. now owns 7,108,667 shares of the coupon company’s stock valued at $36,609,000 after buying an additional 3,183,938 shares during the period. First Trust Advisors LP increased its stake in shares of Groupon by 36.4% in the second quarter. First Trust Advisors LP now owns 11,161,721 shares of the coupon company’s stock valued at $36,276,000 after buying an additional 2,976,695 shares during the period. Morgan Stanley increased its stake in shares of Groupon by 44.5% in the third quarter. Morgan Stanley now owns 7,461,022 shares of the coupon company’s stock valued at $38,425,000 after buying an additional 2,299,150 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Groupon during the third quarter valued at about $10,562,000. 58.54% of the stock is owned by hedge funds and other institutional investors.
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Groupon, Inc operates online local commerce marketplaces throughout 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, the Middle East and Africa, and international operations (Rest of World).
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