Wedbush Reaffirms “Positive” Rating for Groupon, Inc. (GRPN)
Wedbush restated their positive rating on shares of Groupon, Inc. (NASDAQ:GRPN) in a research report sent to investors on Wednesday. The firm currently has a $4.08 target price on the coupon company’s stock, down from their prior target price of $4.50.
A number of other research firms have also recently commented on GRPN. UBS AG restated a sell rating and issued a $3.10 price objective (up from $2.85) on shares of Groupon in a research report on Thursday, August 3rd. B. Riley restated a buy rating and issued a $5.50 price objective on shares of Groupon in a research report on Thursday, August 3rd. Cowen and Company restated a sell rating and issued a $3.50 price objective on shares of Groupon in a research report on Thursday, August 3rd. Credit Suisse Group restated a neutral rating on shares of Groupon in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded Groupon from a sell rating to a hold rating in a research report on Thursday, August 3rd. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $4.57.
Groupon (NASDAQ GRPN) traded down 0.25% during midday trading on Wednesday, reaching $4.07. The company’s stock had a trading volume of 3,621,510 shares. The stock’s market capitalization is $2.26 billion. The firm has a 50-day moving average price of $3.92 and a 200 day moving average price of $3.76. Groupon has a 52-week low of $2.90 and a 52-week high of $5.55.
Groupon (NASDAQ:GRPN) last announced its quarterly 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. Groupon had a negative return on equity of 13.08% and a negative net margin of 4.16%. The company had revenue of $662.60 million during the quarter, compared to the consensus estimate of $668.84 million. During the same period in the previous year, the company posted ($0.01) earnings per share. Groupon’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities research analysts predict that Groupon will post $0.12 EPS for the current fiscal year.
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In other Groupon news, insider James Sullivan sold 25,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $3.96, for a total transaction of $99,000.00. Following the transaction, the insider now owns 343,353 shares of the company’s stock, valued at $1,359,677.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter J. Barris sold 281,352 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $3.04, for a total value of $855,310.08. Following the transaction, the director now directly owns 116,923 shares in the company, valued at approximately $355,445.92. The disclosure for this sale can be found here. Insiders have sold 889,071 shares of company stock worth $3,254,577 in the last three months. 23.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP raised 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 buying an additional 4,937,648 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Groupon during the first quarter valued at approximately $18,078,000. State Street Corp raised 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 buying an additional 2,440,783 shares during the period. Vanguard Group Inc. raised 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 buying an additional 2,430,907 shares during the period. Finally, Bogle Investment Management L P DE acquired a new position in shares of Groupon during the first quarter valued at approximately $8,941,000. 57.64% of the stock is currently owned by institutional investors.
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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