Groupon (NASDAQ:GRPN) Stock Price Up 8.8% – Here’s What Happened

Groupon, Inc. (NASDAQ:GRPN)’s stock price shot up 8.8% during mid-day trading on Friday . The stock traded as high as $12.74 and last traded at $12.63. 929,771 shares were traded during trading, a decline of 28% from the average session volume of 1,298,442 shares. The stock had previously closed at $11.61.

Analysts Set New Price Targets

Several equities analysts have weighed in on GRPN shares. Roth Mkm reissued a “buy” rating and set a $26.00 price target on shares of Groupon in a research report on Wednesday, October 16th. The Goldman Sachs Group dropped their price objective on shares of Groupon from $11.00 to $8.00 and set a “sell” rating for the company in a research note on Thursday, November 14th. Finally, Northland Securities decreased their target price on shares of Groupon from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Groupon presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Groupon Stock Performance

The stock’s 50 day moving average price is $10.02 and its 200 day moving average price is $12.70. The firm has a market cap of $507.47 million, a PE ratio of 24.27 and a beta of 1.72. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.66.

Groupon (NASDAQ:GRPN) last released its quarterly earnings data on Tuesday, November 12th. The coupon company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.58. Groupon had a net margin of 3.87% and a return on equity of 91.94%. The business had revenue of $114.48 million for the quarter, compared to analysts’ expectations of $119.02 million. During the same quarter last year, the company earned ($0.22) EPS. As a group, equities analysts forecast that Groupon, Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of Groupon

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in shares of Groupon by 259.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 191,514 shares of the coupon company’s stock valued at $2,930,000 after purchasing an additional 138,218 shares during the period. Hennessy Advisors Inc. bought a new stake in Groupon in the second quarter worth about $10,884,000. Bank of New York Mellon Corp bought a new position in shares of Groupon during the 2nd quarter valued at about $1,057,000. Rhumbline Advisers grew its stake in shares of Groupon by 3,380.4% in the 2nd quarter. Rhumbline Advisers now owns 31,428 shares of the coupon company’s stock worth $481,000 after purchasing an additional 30,525 shares during the last quarter. Finally, Weil Company Inc. raised its holdings in shares of Groupon by 8.5% in the 2nd quarter. Weil Company Inc. now owns 38,291 shares of the coupon company’s stock worth $586,000 after purchasing an additional 3,000 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

About Groupon

Groupon, Inc, together with its subsidiaries, operates a marketplace that connects consumers to merchants. It operates in two segments, North America and International. The company sells goods or services on behalf of third-party merchants. It serves customers through its mobile applications and websites.