First Trust Advisors LP lifted its position in shares of Groupon Inc (NASDAQ:GRPN) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,871,349 shares of the coupon company’s stock after purchasing an additional 1,955,452 shares during the period. First Trust Advisors LP owned 4.03% of Groupon worth $60,838,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Groupon by 33.1% during the second quarter. JPMorgan Chase & Co. now owns 3,178,215 shares of the coupon company’s stock worth $11,155,000 after purchasing an additional 789,841 shares during the period. Aperio Group LLC increased its stake in shares of Groupon by 11.2% during the second quarter. Aperio Group LLC now owns 47,342 shares of the coupon company’s stock worth $169,000 after purchasing an additional 4,766 shares during the period. American Money Management LLC bought a new position in shares of Groupon during the second quarter worth approximately $86,000. Swiss National Bank increased its stake in shares of Groupon by 2.0% during the second quarter. Swiss National Bank now owns 848,866 shares of the coupon company’s stock worth $3,039,000 after purchasing an additional 16,700 shares during the period. Finally, Morgan Stanley increased its stake in shares of Groupon by 23.5% during the second quarter. Morgan Stanley now owns 7,106,589 shares of the coupon company’s stock worth $25,442,000 after purchasing an additional 1,350,889 shares during the period. Institutional investors own 67.38% of the company’s stock.
In related news, Director Robert J. Bass bought 50,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average cost of $2.58 per share, with a total value of $129,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.50% of the stock is owned by company insiders.
Groupon (NASDAQ:GRPN) last announced its earnings results on Monday, November 4th. The coupon company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $495.60 million during the quarter, compared to analyst estimates of $523.71 million. Groupon had a positive return on equity of 9.21% and a negative net margin of 2.21%. Groupon’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.08 EPS. On average, sell-side analysts anticipate that Groupon Inc will post 0.08 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on GRPN shares. BidaskClub upgraded Groupon from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Wedbush set a $3.50 target price on Groupon and gave the stock a “hold” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. lowered Groupon from a “neutral” rating to an “underweight” rating and set a $3.00 target price on the stock. in a research note on Wednesday. ValuEngine lowered Groupon from a “hold” rating to a “sell” rating in a research note on Friday. Finally, DA Davidson set a $5.00 target price on Groupon and gave the stock a “buy” rating in a research note on Monday, September 9th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $3.70.
Groupon, Inc operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount in North America and internationally. The company provides deals in various categories, including events and activities, beauty and spa, health and fitness, food and drink, home and garden, and automotive; and deals on various product lines, such as electronics, sporting goods, jewelry, toys, household items, and apparel, as well as discounted and market rates for hotel, airfare, and package deals.
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