Groupon (NASDAQ:GRPN) Stock Price Down 11.9% – Here’s What Happened

Shares of Groupon, Inc. (NASDAQ:GRPN) traded down 11.9% on Friday. The company traded as low as $16.41 and last traded at $16.2310. Approximately 780,273 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 1,503,151 shares. The stock had previously closed at $18.43.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen raised Groupon from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Groupon in a research report on Friday, September 4th. Northland Securities set a $30.00 price objective on shares of Groupon in a research report on Monday, August 17th. Finally, The Goldman Sachs Group set a $16.00 price objective on shares of Groupon in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $23.00.

Groupon Stock Performance

The company has a 50 day moving average price of $19.57 and a 200 day moving average price of $19.48. The company has a market capitalization of $673.90 million, a price-to-earnings ratio of -5.33 and a beta of 0.20.

Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Thursday, August 6th. The coupon company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $124.67 million for the quarter, compared to analyst estimates of $127.09 million. Research analysts forecast that Groupon, Inc. will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Groupon

Several hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Groupon by 92.7% during the second quarter. Versant Capital Management Inc now owns 1,299 shares of the coupon company’s stock worth $31,000 after purchasing an additional 625 shares during the period. Royal Bank of Canada grew its position in Groupon by 10.6% in the 1st quarter. Royal Bank of Canada now owns 7,618 shares of the coupon company’s stock valued at $90,000 after purchasing an additional 731 shares during the period. Headlands Technologies LLC grew its position in Groupon by 10.1% in the 2nd quarter. Headlands Technologies LLC now owns 15,054 shares of the coupon company’s stock valued at $362,000 after purchasing an additional 1,382 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in Groupon by 13.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,129 shares of the coupon company’s stock valued at $316,000 after purchasing an additional 1,553 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Groupon by 135.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,185 shares of the coupon company’s stock valued at $56,000 after purchasing an additional 1,835 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

About Groupon

Groupon, Inc operates a global e-commerce marketplace that connects consumers with local businesses and merchants. Through its website and mobile applications, the company offers discounts and promotions on experiences, dining, beauty and wellness, entertainment, travel, and other products and services.

Groupon’s platform enables merchants to reach new customers, promote their offerings, and manage digital marketing campaigns. Consumers can search for deals by location, category, and activity, while participating businesses use Groupon’s marketplace and promotional tools to support customer acquisition.

Founded in 2008, Groupon initially became known for its “daily deals” model and subsequently expanded into a broader local commerce marketplace.