Groupon (NASDAQ:GRPN) Trading Up 16.9% – What’s Next?

Shares of Groupon, Inc. (NASDAQ:GRPN) traded up 16.9% on Thursday . The stock traded as high as $20.70 and last traded at $21.4180. Approximately 451,928 shares changed hands during trading, a decline of 72% from the average daily volume of 1,589,766 shares. The stock had previously closed at $18.32.

Analyst Ratings Changes

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

Groupon Price Performance

The company has a market cap of $858.27 million, a price-to-earnings ratio of -8.66 and a beta of 0.25. The firm’s fifty day moving average price is $17.22 and its 200-day moving average price is $15.10.

Groupon (NASDAQ:GRPN) last released 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 firm had revenue of $117.20 million during the quarter, compared to analyst estimates of $117.65 million. Groupon had a negative return on equity of 717.37% and a negative net margin of 20.78%. As a group, equities analysts forecast that Groupon, Inc. will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of Groupon

Several hedge funds have recently added to or reduced their stakes in GRPN. Bank of America Corp DE boosted its position in Groupon by 552.5% during the 2nd quarter. Bank of America Corp DE now owns 1,136,524 shares of the coupon company’s stock worth $38,017,000 after acquiring an additional 962,337 shares during the period. Millennium Management LLC increased its holdings in shares of Groupon by 749.0% during the fourth quarter. Millennium Management LLC now owns 791,498 shares of the coupon company’s stock valued at $13,938,000 after purchasing an additional 698,270 shares during the period. Renaissance Technologies LLC raised its stake in shares of Groupon by 464.1% during the first quarter. Renaissance Technologies LLC now owns 619,413 shares of the coupon company’s stock valued at $7,371,000 after purchasing an additional 509,600 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Groupon by 22.2% during the third quarter. Vanguard Group Inc. now owns 2,108,578 shares of the coupon company’s stock valued at $49,235,000 after purchasing an additional 383,277 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in Groupon in the fourth quarter worth about $5,993,000. Institutional investors own 90.05% of the company’s stock.

About Groupon

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.