Groupon, Inc. (NASDAQ:GRPN) Stake Increased by California Public Employees Retirement System
California Public Employees Retirement System increased its stake in Groupon, Inc. (NASDAQ:GRPN) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,171,300 shares of the coupon company’s stock after buying an additional 37,200 shares during the period. California Public Employees Retirement System owned 0.21% of Groupon worth $4,603,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. State of New Jersey Common Pension Fund D purchased a new position in shares of Groupon during the first quarter worth $18,078,000. Norges Bank purchased a new position in shares of Groupon during the fourth quarter worth $11,260,000. Eagle Asset Management Inc. purchased a new position in shares of Groupon during the first quarter worth $1,867,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Groupon by 84.7% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 921,038 shares of the coupon company’s stock worth $3,618,000 after buying an additional 422,445 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Groupon by 6.2% in the fourth quarter. State Street Corp now owns 6,593,331 shares of the coupon company’s stock worth $21,890,000 after buying an additional 386,179 shares in the last quarter. Hedge funds and other institutional investors own 56.27% of the company’s stock.
Shares of Groupon, Inc. (GRPN) remained flat at $4.12 during mid-day trading on Monday. The stock had a trading volume of 5,212,587 shares. The company’s market cap is $2.30 billion. The stock has a 50-day moving average of $3.61 and a 200-day moving average of $3.69. Groupon, Inc. has a 1-year low of $2.90 and a 1-year high of $5.94.
Groupon (NASDAQ:GRPN) last issued its quarterly earnings data on Wednesday, August 2nd. The coupon company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.06. The business had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $668.84 million. Groupon had a negative net margin of 4.16% and a negative return on equity of 13.08%. The company’s revenue was down 8.5% on a year-over-year basis. During the same period last year, the company posted ($0.01) EPS. Analysts anticipate that Groupon, Inc. will post $0.12 earnings per share for the current fiscal year.
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A number of brokerages have commented on GRPN. UBS AG reissued a “sell” rating and set a $3.10 target price (up from $2.85) on shares of Groupon in a research note on Thursday. Barclays PLC reissued an “underweight” rating and set a $3.85 target price (up from $3.40) on shares of Groupon in a research note on Thursday. Cowen and Company restated a “sell” rating and set a $3.50 price target on shares of Groupon in a research report on Thursday. Credit Suisse Group restated a “neutral” rating on shares of Groupon in a research report on Thursday. Finally, BidaskClub upgraded Groupon from a “sell” rating to a “hold” rating in a research report on Thursday. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.59.
In other Groupon news, Director Peter J. Barris sold 281,352 shares of Groupon stock in a transaction on Monday, June 12th. The shares were sold at an average price of $3.04, for a total value of $855,310.08. Following the transaction, the director now owns 116,923 shares in the company, valued at approximately $355,445.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brian Stevens sold 10,000 shares of Groupon stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $3.15, for a total transaction of $31,500.00. Following the completion of the transaction, the chief accounting officer now owns 204,141 shares in the company, valued at approximately $643,044.15. The disclosure for this sale can be found here. Insiders sold a total of 359,105 shares of company stock valued at $1,129,243 over the last ninety days. 23.40% of the stock is owned by corporate insiders.
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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