Groupon (NASDAQ:GRPN) Trading Down 4.8% – Here’s What Happened

Groupon, Inc. (NASDAQ:GRPN)’s stock price traded down 4.8% during trading on Tuesday . The stock traded as low as $26.55 and last traded at $26.60. Approximately 584,642 shares changed hands during trading, a decline of 64% from the average daily volume of 1,632,478 shares. The stock had previously closed at $27.95.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GRPN. Wall Street Zen cut Groupon from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Northland Securities set a $26.00 price objective on shares of Groupon in a research note on Wednesday, May 27th. The Goldman Sachs Group reissued a “sell” rating and set a $13.00 target price (up from $10.00) on shares of Groupon in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Groupon in a research note on Tuesday, June 9th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Groupon in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.50.

Groupon Stock Up 7.2%

The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -10.70 and a beta of 0.23. The company has a 50 day moving average of $20.99 and a 200 day moving average of $16.23.

Groupon (NASDAQ:GRPN) last issued its quarterly earnings data 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 analysts’ expectations of $117.65 million. As a group, equities research analysts expect that Groupon, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Groupon

Several institutional investors and hedge funds have recently bought and sold shares of GRPN. AQR Capital Management LLC acquired a new stake in shares of Groupon during the first quarter worth $224,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Groupon by 31.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,606 shares of the coupon company’s stock valued at $837,000 after purchasing an additional 10,588 shares during the last quarter. Legal & General Group Plc boosted its stake in Groupon by 1,098.1% during the 2nd quarter. Legal & General Group Plc now owns 26,658 shares of the coupon company’s stock valued at $892,000 after purchasing an additional 24,433 shares during the period. Rhumbline Advisers boosted its stake in Groupon by 9.6% during the 2nd quarter. Rhumbline Advisers now owns 36,632 shares of the coupon company’s stock valued at $1,225,000 after purchasing an additional 3,219 shares during the period. Finally, American Century Companies Inc. grew its position in Groupon by 47.6% in the 2nd quarter. American Century Companies Inc. now owns 47,073 shares of the coupon company’s stock worth $1,575,000 after purchasing an additional 15,177 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Groupon Company Profile

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.