Renaissance Technologies LLC Increases Stock Holdings in Groupon, Inc. $GRPN

Renaissance Technologies LLC boosted its stake in Groupon, Inc. (NASDAQ:GRPN) by 464.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 619,413 shares of the coupon company’s stock after acquiring an additional 509,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Groupon were worth $7,371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Groupon in the third quarter valued at approximately $32,000. Johnson Financial Group Inc. acquired a new position in shares of Groupon during the fourth quarter worth $35,000. Quarry LP boosted its stake in shares of Groupon by 48.1% in the third quarter. Quarry LP now owns 1,938 shares of the coupon company’s stock valued at $45,000 after purchasing an additional 629 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Groupon in the second quarter valued at $69,000. Finally, National Bank of Canada FI grew its holdings in Groupon by 172,400.0% during the 3rd quarter. National Bank of Canada FI now owns 3,450 shares of the coupon company’s stock valued at $81,000 after purchasing an additional 3,448 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Groupon Trading Up 0.3%

Shares of NASDAQ:GRPN opened at $27.65 on Tuesday. The company has a fifty day simple moving average of $22.49 and a 200 day simple moving average of $16.82. The firm has a market cap of $1.05 billion, a PE ratio of -10.59 and a beta of 0.23. Groupon, Inc. has a 12-month low of $9.17 and a 12-month high of $43.08.

Groupon (NASDAQ:GRPN) last posted its quarterly earnings data on Thursday, May 7th. The coupon company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). The business had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $117.65 million. As a group, equities research analysts forecast that Groupon, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citigroup reaffirmed an “outperform” rating on shares of Groupon in a research note on Tuesday, June 9th. The Goldman Sachs Group restated a “sell” rating and set a $13.00 target price (up from $10.00) on shares of Groupon in a research note on Tuesday, May 12th. Northland Securities set a $26.00 target price on Groupon in a research report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Groupon in a research note on Tuesday, June 9th. Finally, Wall Street Zen downgraded Groupon from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.50.

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.