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.
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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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