Groupon (NASDAQ:GRPN) Trading 8.1% Higher – Here’s What Happened

Groupon, Inc. (NASDAQ:GRPN) traded up 8.1% during trading on Thursday . The stock traded as high as $18.65 and last traded at $18.7510. 202,672 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,620,963 shares. The stock had previously closed at $17.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group reissued a “sell” rating and issued a $13.00 price objective (up from $10.00) on shares of Groupon in a report on Tuesday, May 12th. Wall Street Zen downgraded Groupon from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Northland Securities set a $26.00 price objective on Groupon in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.67.

Groupon Trading Up 6.0%

The business has a 50 day moving average of $15.19 and a two-hundred day moving average of $15.02. The firm has a market cap of $698.45 million, a P/E ratio of -7.03 and a beta of 0.25.

Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Thursday, May 7th. The coupon company reported ($0.32) earnings per share 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 the consensus estimate of $117.65 million. Groupon had a negative net margin of 20.78% and a negative return on equity of 717.37%. On average, sell-side analysts predict that Groupon, Inc. will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Quarry LP grew its position in Groupon by 48.1% in the third quarter. Quarry LP now owns 1,938 shares of the coupon company’s stock valued at $45,000 after acquiring an additional 629 shares during the last quarter. Royal Bank of Canada grew its position in Groupon by 10.6% in the first quarter. Royal Bank of Canada now owns 7,618 shares of the coupon company’s stock valued at $90,000 after acquiring an additional 731 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Groupon in the third quarter valued at about $32,000. Franklin Resources Inc. grew its position in Groupon by 6.9% in the fourth quarter. Franklin Resources Inc. now owns 21,340 shares of the coupon company’s stock valued at $376,000 after acquiring an additional 1,377 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Groupon by 4.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 32,126 shares of the coupon company’s stock valued at $566,000 after purchasing an additional 1,486 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

About Groupon

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.