Pinnacle Associates Ltd. reduced its holdings in shares of Groupon Inc (NASDAQ:GRPN) by 6.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,350,086 shares of the coupon company’s stock after selling 221,557 shares during the period. Pinnacle Associates Ltd.’s holdings in Groupon were worth $10,720,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc lifted its position in shares of Groupon by 8.0% during the 3rd quarter. Vanguard Group Inc now owns 39,015,392 shares of the coupon company’s stock worth $147,088,000 after buying an additional 2,895,875 shares during the last quarter. Vanguard Group Inc. increased its holdings in Groupon by 8.0% in the 3rd quarter. Vanguard Group Inc. now owns 39,015,392 shares of the coupon company’s stock worth $147,088,000 after purchasing an additional 2,895,875 shares in the last quarter. First Trust Advisors LP increased its holdings in Groupon by 23.8% in 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. TIAA CREF Investment Management LLC increased its holdings in Groupon by 19.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 11,461,128 shares of the coupon company’s stock worth $43,208,000 after purchasing an additional 1,871,669 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its holdings in Groupon by 14.8% in the 3rd quarter. Pictet Asset Management Ltd. now owns 10,241,250 shares of the coupon company’s stock worth $38,610,000 after purchasing an additional 1,320,345 shares in the last quarter. Institutional investors and hedge funds own 66.96% of the company’s stock.
A number of equities analysts have issued reports on the company. Goldman Sachs Group assumed coverage on Groupon in a report on Monday, February 4th. They issued a “neutral” rating and a $3.50 target price for the company. ValuEngine raised Groupon from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. BidaskClub raised Groupon from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research raised Groupon from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Wednesday, January 2nd. Finally, B. Riley lowered their target price on Groupon from $6.30 to $5.60 and set a “buy” rating for the company in a report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Groupon has a consensus rating of “Hold” and an average target price of $4.61.
Shares of GRPN stock opened at $3.60 on Monday. The stock has a market capitalization of $2.05 billion, a PE ratio of -120.00, a P/E/G ratio of 8.31 and a beta of 1.37. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.60. Groupon Inc has a 1-year low of $2.80 and a 1-year high of $5.52.
In other news, Director Eric P. Lefkofsky sold 1,500,000 shares of the stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $3.04, for a total value of $4,560,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.90% of the company’s stock.
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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.
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