New Jersey Better Educational Savings Trust Has $461,000 Position in Groupon, Inc. (NASDAQ:GRPN)
New Jersey Better Educational Savings Trust boosted its stake in Groupon, Inc. (NASDAQ:GRPN) by 9.1% during the second quarter, Holdings Channel reports. The fund owned 120,000 shares of the coupon company’s stock after buying an additional 10,000 shares during the period. New Jersey Better Educational Savings Trust’s holdings in Groupon were worth $461,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of GRPN. State of New Jersey Common Pension Fund D purchased a new position in shares of Groupon during the first quarter valued at about $18,078,000. Norges Bank purchased a new position in shares of Groupon during the fourth quarter valued at about $11,260,000. Bogle Investment Management L P DE purchased a new position in shares of Groupon during the first quarter valued at about $8,941,000. Crawford Lake Capital Management LLC purchased a new position in shares of Groupon during the first quarter valued at about $7,033,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Groupon by 33.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,978,469 shares of the coupon company’s stock valued at $7,598,000 after buying an additional 498,238 shares during the last quarter. 56.27% of the stock is currently owned by institutional investors.
Shares of Groupon, Inc. (GRPN) opened at 4.00 on Friday. The company has a 50-day moving average of $3.80 and a 200-day moving average of $3.71. Groupon, Inc. has a 12 month low of $2.90 and a 12 month high of $5.80. The firm’s market cap is $2.22 billion.
Groupon (NASDAQ:GRPN) last posted its earnings results on Wednesday, August 2nd. The coupon company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.06. Groupon had a negative net margin of 4.16% and a negative return on equity of 13.08%. The firm had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $668.84 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. Groupon’s quarterly revenue was down 8.5% on a year-over-year basis. Equities analysts forecast that Groupon, Inc. will post $0.12 EPS for the current fiscal year.
Several equities analysts have issued reports on GRPN shares. Vetr raised Groupon from a “buy” rating to a “strong-buy” rating and set a $4.39 price objective on the stock in a report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “hold” rating on shares of Groupon in a report on Monday, May 15th. Morgan Stanley lowered Groupon from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $3.90 to $3.50 in a report on Monday, April 24th. BidaskClub raised Groupon from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Finally, B. Riley raised Groupon from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $4.20 to $5.50 in a report on Thursday, June 29th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $4.59.
In other Groupon news, Director Peter J. Barris sold 562,719 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $3.96, for a total value of $2,228,367.24. Following the completion of the transaction, the director now owns 168,887 shares in the company, valued at approximately $668,792.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter J. Barris sold 281,352 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $3.04, for a total transaction of $855,310.08. Following the completion of the transaction, the director now owns 116,923 shares of the company’s stock, valued at approximately $355,445.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 854,071 shares of company stock valued at $3,115,177. 23.40% of the stock is owned by insiders.
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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