Sumitomo Mitsui Asset Management Company LTD Acquires 2,421,825 Shares of Groupon, Inc. (NASDAQ:GRPN)

Sumitomo Mitsui Asset Management Company LTD raised its stake in Groupon, Inc. (NASDAQ:GRPN) by 40.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,451,180 shares of the coupon company’s stock after purchasing an additional 2,421,825 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD owned 1.52% of Groupon worth $43,946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Groupon by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 1,424,065 shares of the coupon company’s stock valued at $5,596,000 after acquiring an additional 74,298 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in Groupon by 21.3% during the first quarter. UBS Asset Management Americas Inc. now owns 294,562 shares of the coupon company’s stock valued at $1,158,000 after purchasing an additional 51,657 shares during the period. Karp Capital Management Corp bought a new position in Groupon during the first quarter valued at $108,000. SG Americas Securities LLC grew its holdings in Groupon by 6.8% during the first quarter. SG Americas Securities LLC now owns 31,399 shares of the coupon company’s stock valued at $123,000 after purchasing an additional 2,000 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Groupon by 3.3% during the first quarter. California Public Employees Retirement System now owns 1,171,300 shares of the coupon company’s stock valued at $4,603,000 after purchasing an additional 37,200 shares during the period. 55.03% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on GRPN shares. B. Riley increased their price objective on Groupon from $5.50 to $6.30 and gave the company a “buy” rating in a report on Wednesday, October 18th. BidaskClub lowered Groupon from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research raised Groupon from a “hold” rating to a “strong-buy” rating and set a $6.25 price objective for the company in a research note on Monday, November 6th. Barclays PLC reissued an “underweight” rating and set a $3.85 price objective (up previously from $3.40) on shares of Groupon in a research note on Thursday, August 3rd. Finally, DA Davidson assumed coverage on Groupon in a report on Friday, September 22nd. They issued a “buy” rating and a $5.00 price objective on the stock. Seven equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Groupon currently has a consensus rating of “Hold” and a consensus target price of $4.94.

In related news, CAO Brian Stevens sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $4.04, for a total transaction of $40,400.00. Following the completion of the transaction, the chief accounting officer now owns 215,696 shares of the company’s stock, valued at $871,411.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric P. Lefkofsky sold 1,500,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $4.39, for a total transaction of $6,585,000.00. The disclosure for this sale can be found here. Insiders have sold 2,285,000 shares of company stock valued at $10,047,900 over the last quarter. Insiders own 23.40% of the company’s stock.

Shares of Groupon, Inc. (NASDAQ:GRPN) opened at $5.18 on Wednesday. Groupon, Inc. has a one year low of $2.90 and a one year high of $5.67. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.99.

Groupon (NASDAQ:GRPN) last posted its quarterly earnings data on Wednesday, November 1st. The coupon company reported $0.01 EPS for the quarter. Groupon had a negative net margin of 2.97% and a negative return on equity of 1.47%. The business had revenue of $634.46 million during the quarter, compared to the consensus estimate of $642.62 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. sell-side analysts expect that Groupon, Inc. will post -0.02 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://ledgergazette.com/2017/11/15/groupon-inc-grpn-shares-bought-by-sumitomo-mitsui-asset-management-company-ltd.html.

About Groupon

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).

Institutional Ownership by Quarter for Groupon (NASDAQ:GRPN)

Receive News & Ratings for Groupon Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Groupon Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply