SummitTX Capital L.P. Buys 66,088 Shares of Groupon, Inc. $GRPN

SummitTX Capital L.P. raised its stake in Groupon, Inc. (NASDAQ:GRPN) by 432.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,366 shares of the coupon company’s stock after buying an additional 66,088 shares during the quarter. SummitTX Capital L.P.’s holdings in Groupon were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new position in shares of Groupon during the 1st quarter worth about $224,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Groupon by 31.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,606 shares of the coupon company’s stock valued at $837,000 after acquiring an additional 10,588 shares during the period. Legal & General Group Plc raised its position in shares of Groupon by 1,098.1% in the 2nd quarter. Legal & General Group Plc now owns 26,658 shares of the coupon company’s stock valued at $892,000 after acquiring an additional 24,433 shares during the period. Rhumbline Advisers raised its position in shares of Groupon by 9.6% in the 2nd quarter. Rhumbline Advisers now owns 36,632 shares of the coupon company’s stock valued at $1,225,000 after acquiring an additional 3,219 shares during the period. Finally, American Century Companies Inc. boosted its stake in Groupon by 47.6% during the 2nd quarter. American Century Companies Inc. now owns 47,073 shares of the coupon company’s stock worth $1,575,000 after acquiring an additional 15,177 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Groupon Trading Up 2.5%

GRPN opened at $27.89 on Friday. The stock has a market capitalization of $1.06 billion, a P/E ratio of -10.69 and a beta of 0.23. Groupon, Inc. has a 12 month low of $9.17 and a 12 month high of $43.08. The firm’s fifty day simple moving average is $22.14 and its 200 day simple moving average is $16.66.

Groupon (NASDAQ:GRPN) last released its earnings results on Thursday, May 7th. The coupon company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). The business had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $117.65 million. On average, equities research analysts predict that Groupon, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Groupon from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Northland Securities set a $26.00 price target on shares of Groupon in a research report on Wednesday, May 27th. The Goldman Sachs Group reissued a “sell” rating and issued a $13.00 price target (up from $10.00) on shares of Groupon in a report on Tuesday, May 12th. Citigroup restated an “outperform” rating on shares of Groupon in a research report on Tuesday, June 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Groupon in a research report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Groupon has a consensus rating of “Hold” and an average price target of $19.50.

Groupon Company Profile

Groupon, Inc operates an online marketplace that connects subscribers with local merchants offering discounted goods, services and experiences. Through its website and mobile applications, Groupon provides time-limited deals across categories such as restaurants, travel, beauty and wellness, home services, and consumer products. Merchants partner with Groupon to attract new customers and drive foot traffic, leveraging the platform’s targeted marketing tools and large subscriber base to promote special offers and vouchers.

Founded in Chicago in 2008 by Andrew Mason, Eric Lefkofsky and Brad Keywell, Groupon pioneered the daily-deals model, quickly growing its user community and merchant network.