Groupon, Inc. (NASDAQ:GRPN) Stock Rating Reaffirmed by Morgan Stanley
Morgan Stanley reaffirmed their underweight rating on shares of Groupon, Inc. (NASDAQ:GRPN) in a report released on Wednesday. Morgan Stanley currently has a $3.20 target price on the coupon company’s stock, down from their previous target price of $3.50.
A number of other research analysts have also weighed in on the company. Vetr raised Groupon from a buy rating to a strong-buy rating and set a $4.39 price target on the stock in a research note on Wednesday, May 3rd. Jefferies Group LLC reissued a hold rating on shares of Groupon in a research note on Monday, May 15th. BidaskClub raised Groupon from a strong sell rating to a sell rating in a research note on Friday, June 16th. B. Riley raised Groupon from a neutral rating to a buy rating and increased their price target for the stock from $4.20 to $5.50 in a research note on Thursday, June 29th. Finally, Royal Bank Of Canada reissued a hold rating and set a $4.00 price target on shares of Groupon in a research note on Friday, June 30th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $4.54.
Groupon (GRPN) traded up 1.33% during midday trading on Wednesday, reaching $3.80. The company’s stock had a trading volume of 4,216,312 shares. Groupon has a 52 week low of $2.90 and a 52 week high of $5.94. The stock’s market capitalization is $2.13 billion. The firm’s 50-day moving average price is $3.57 and its 200-day moving average price is $3.68.
Groupon (NASDAQ:GRPN) last posted its earnings results on Wednesday, May 3rd. The coupon company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.06. Groupon had a negative return on equity of 22.40% and a negative net margin of 5.51%. The firm had revenue of $673.63 million for the quarter, compared to analyst estimates of $721.93 million. During the same quarter in the prior year, the company earned ($0.01) EPS. Groupon’s revenue was down 3.6% on a year-over-year basis. On average, analysts anticipate that Groupon will post $0.11 earnings per share for the current year.
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In related news, CAO Brian Stevens sold 10,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $3.15, for a total value of $31,500.00. Following the completion of the sale, the chief accounting officer now directly owns 204,141 shares in the company, valued at approximately $643,044.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James Sullivan sold 20,000 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $3.55, for a total value of $71,000.00. Following the completion of the sale, the insider now owns 339,120 shares of the company’s stock, valued at $1,203,876. The disclosure for this sale can be found here. Over the last quarter, insiders sold 359,105 shares of company stock valued at $1,129,243. 23.40% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D bought a new stake in shares of Groupon during the first quarter valued at about $18,078,000. Norges Bank acquired a new stake in shares of Groupon during the fourth quarter valued at $11,260,000. Bogle Investment Management L P DE acquired a new stake in shares of Groupon during the first quarter valued at $8,941,000. Crawford Lake Capital Management LLC acquired a new stake in shares of Groupon during the first quarter valued at $7,033,000. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Groupon during the first quarter valued at $1,867,000. Hedge funds and other institutional investors own 57.27% of the company’s stock.
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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