Groupon (NASDAQ:GRPN) Trading Down 7.8% – Here’s What Happened

Groupon, Inc. (NASDAQ:GRPN) traded down 7.8% on Monday . The company traded as low as $23.00 and last traded at $23.09. Approximately 355,267 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,621,708 shares. The stock had previously closed at $25.03.

Wall Street Analysts Forecast Growth

GRPN has been the topic of a number of recent analyst reports. Wall Street Zen raised Groupon from a “sell” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group reissued a “sell” rating and set a $22.00 target price on shares of Groupon in a research report on Monday. Citigroup restated an “outperform” rating on shares of Groupon in a report on Tuesday, June 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Groupon in a research report on Tuesday, June 9th. Finally, Northland Securities set a $26.00 price objective on shares of Groupon in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $24.00.

Groupon Stock Performance

The company has a market capitalization of $889.45 million, a price-to-earnings ratio of -7.03 and a beta of 0.23. The company has a 50 day moving average price of $23.05 and a 200 day moving average price of $17.19.

Groupon (NASDAQ:GRPN) last announced its quarterly earnings results on Thursday, August 6th. The coupon company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $124.67 million for the quarter, compared to the consensus estimate of $127.09 million. Research analysts forecast that Groupon, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Groupon

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Groupon by 22.2% in the third quarter. Vanguard Group Inc. now owns 2,108,578 shares of the coupon company’s stock valued at $49,235,000 after buying an additional 383,277 shares during the period. Bank of America Corp DE grew its stake in shares of 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. Garnet Equity Capital Holdings Inc. grew its stake in shares of Groupon by 4.4% during the 4th quarter. Garnet Equity Capital Holdings Inc. now owns 958,660 shares of the coupon company’s stock worth $16,882,000 after acquiring an additional 40,000 shares during the period. State Street Corp grew its stake in shares of Groupon by 25.8% during the 4th quarter. State Street Corp now owns 881,422 shares of the coupon company’s stock worth $15,522,000 after acquiring an additional 180,992 shares during the period. Finally, Millennium Management LLC increased its holdings in Groupon by 749.0% in the 4th quarter. Millennium Management LLC now owns 791,498 shares of the coupon company’s stock worth $13,938,000 after acquiring an additional 698,270 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Groupon Company Profile

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.