Russell Investments Group Ltd. Lowers Stake in Groupon Inc (GRPN)
Russell Investments Group Ltd. cut its holdings in shares of Groupon Inc (NASDAQ:GRPN) by 52.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410,500 shares of the coupon company’s stock after selling 447,930 shares during the period. Russell Investments Group Ltd. owned 0.07% of Groupon worth $1,548,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its position in Groupon by 29.9% in the 2nd quarter. BlackRock Inc. now owns 29,790,452 shares of the coupon company’s stock valued at $128,101,000 after buying an additional 6,856,566 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Groupon by 23.8% during the 3rd quarter. First Trust Advisors LP now owns 23,581,289 shares of the coupon company’s stock worth $88,901,000 after purchasing an additional 4,530,364 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Groupon by 37.2% during the 2nd quarter. Renaissance Technologies LLC now owns 7,088,800 shares of the coupon company’s stock worth $30,482,000 after purchasing an additional 1,922,900 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Groupon by 92.3% during the 2nd quarter. Wells Fargo & Company MN now owns 6,985,470 shares of the coupon company’s stock worth $30,038,000 after purchasing an additional 3,353,584 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Groupon by 19.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,404,098 shares of the coupon company’s stock worth $27,536,000 after purchasing an additional 1,064,430 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.
Several brokerages have commented on GRPN. Zacks Investment Research lowered shares of Groupon from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. TheStreet lowered shares of Groupon from a “c-” rating to a “d+” rating in a research report on Wednesday, September 26th. BidaskClub lowered shares of Groupon from a “sell” rating to a “strong sell” rating in a research report on Friday, September 7th. B. Riley decreased their target price on shares of Groupon from $6.30 to $5.60 and set a “buy” rating on the stock in a research report on Thursday, November 8th. Finally, Wedbush restated a “neutral” rating and set a $4.00 target price on shares of Groupon in a research report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $5.20.
Groupon (NASDAQ:GRPN) last released its quarterly earnings results on Wednesday, November 7th. The coupon company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $602.08 million. Groupon had a positive return on equity of 11.15% and a negative net margin of 0.35%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, analysts expect that Groupon Inc will post 0.09 EPS for the current fiscal year.
In other news, Director Eric P. Lefkofsky sold 1,500,000 shares of Groupon stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $3.82, for a total transaction of $5,730,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.90% of the company’s stock.
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Groupon Company Profile
Groupon, Inc operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount in North America and internationally. The company provides deals in various categories, including events and activities, beauty and spa, health and fitness, food and drink, home and garden, and automotive; and deals on various product lines, such as electronics, sporting goods, jewelries, toys, household items, and apparel, as well as provides discounted and market rates for hotel, airfare, and package deals.
Further Reading: Risk Tolerance and Your Investment Decisions
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