Groupon’s (GRPN) Underperform Rating Reiterated at Bank of America Corporation
Bank of America Corporation restated their underperform rating on shares of Groupon, Inc. (NASDAQ:GRPN) in a research note released on Friday morning, Marketbeat reports. Bank of America Corporation currently has a $3.50 price target on the coupon company’s stock.
GRPN has been the topic of a number of other research reports. Vetr downgraded shares of Groupon from a strong-buy rating to a buy rating and set a $4.26 price target on the stock. in a research note on Monday, May 1st. Cowen and Company decreased their price target on shares of Groupon from $4.00 to $3.00 and set an underperform rating on the stock in a research note on Thursday, May 4th. Citigroup Inc. started coverage on shares of Groupon in a research note on Monday, March 27th. They set a neutral rating and a $5.00 price target on the stock. Morgan Stanley downgraded shares of Groupon from an equal weight rating to an underweight rating and decreased their price target for the stock from $3.90 to $3.50 in a research note on Monday, April 24th. Finally, Jefferies Group LLC reiterated a hold rating on shares of Groupon in a research note on Friday, May 5th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $4.56.
Groupon (NASDAQ:GRPN) opened at 3.65 on Friday. Groupon has a 52-week low of $2.90 and a 52-week high of $5.94. The stock has a 50 day moving average of $3.48 and a 200-day moving average of $3.68. The company’s market capitalization is $2.05 billion.
Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Wednesday, May 3rd. The coupon company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.06. Groupon had a negative net margin of 5.51% and a negative return on equity of 22.40%. The firm had revenue of $673.63 million for the quarter, compared to the consensus estimate of $721.93 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts forecast that Groupon will post $0.10 earnings per share for the current year.
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In other Groupon news, CAO Brian Stevens sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $3.15, for a total transaction of $31,500.00. Following the completion of the sale, the chief accounting officer now directly owns 204,141 shares of the company’s stock, valued at approximately $643,044.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter J. Barris sold 281,352 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $3.04, for a total value of $855,310.08. Following the sale, the director now directly owns 116,923 shares of the company’s stock, valued at $355,445.92. The disclosure for this sale can be found here. Insiders have sold a total of 359,105 shares of company stock valued at $1,129,243 over the last three months. Company insiders own 23.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Tudor Investment Corp Et Al purchased a new stake in shares of Groupon during the fourth quarter valued at $203,000. Norges Bank purchased a new stake in shares of Groupon during the fourth quarter valued at $11,260,000. State Street Corp boosted its stake in shares of Groupon by 6.2% in the fourth quarter. State Street Corp now owns 6,593,331 shares of the coupon company’s stock valued at $21,890,000 after buying an additional 386,179 shares in the last quarter. HRT Financial LLC boosted its stake in shares of Groupon by 50.8% in the first quarter. HRT Financial LLC now owns 51,080 shares of the coupon company’s stock valued at $200,000 after buying an additional 17,204 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Groupon by 2.1% in the first quarter. Swiss National Bank now owns 708,866 shares of the coupon company’s stock valued at $2,786,000 after buying an additional 14,800 shares in the last quarter. 57.27% of the stock is owned by hedge funds and other institutional investors.
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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