The Manufacturers Life Insurance Company lowered its position in shares of Groupon, Inc. (NASDAQ: GRPN – Get Rating ) by 9.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 882,265 shares of the coupon company’s stock after selling 94,647 shares during the period. The Manufacturers Life Insurance Company owned about 2.91% of Groupon worth $7,023,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Groupon by 723.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 12,482 shares of the coupon company’s stock valued at $99,000 after buying an additional 10,967 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Groupon by 15.4% in the third quarter. Janney Montgomery Scott LLC now owns 17,200 shares of the coupon company’s stock valued at $137,000 after buying an additional 2,300 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Groupon by 75.5% in the second quarter. Federated Hermes Inc. now owns 952,415 shares of the coupon company’s stock valued at $10,763,000 after buying an additional 409,863 shares during the period. Caption Management LLC purchased a new position in shares of Groupon in the second quarter valued at about $314,000. Finally, State Street Corp boosted its holdings in shares of Groupon by 13.3% in the second quarter. State Street Corp now owns 785,314 shares of the coupon company’s stock valued at $8,874,000 after buying an additional 92,374 shares during the period. Institutional investors own 57.11% of the company’s shares.
Groupon’s stock rose 3.7%
GRPN stock opened at $9.24 on Friday. Groupon, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $31.15. The business’s 50-day moving average is $7.94, and its 200-day moving average is $9.13. The company has a debt-to-equity ratio of 2.31, a quick earnings ratio of 0.77, and a current ratio of 0.77. The company has a market cap of $281.27 million, a price-to-earnings ratio of -1.79 and a beta of 1.87.
Groupon (NASDAQ:GRPN – Get Rating ) last posted its earnings results on Monday, November 7th. The coupons company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.32. Groupon had a negative return on equity of 48.33% and a negative net profit of 22.68%. The firm had revenue of $144.39 million for the quarter, compared to the consensus estimate of $174.60 million. As a group, analysts predict that Groupon, Inc. will report -3.29 EPS for the current fiscal year.
Insiders place their bets
In other news, Director Jan Barta bought 6,716,966 shares of Groupon stock in a transaction on Tuesday, December 20th. The stock was bought at an average price of $7.28 per share, for a total transaction of $48,899,512.48. Following the acquisition, the director now owns 6,716,966 shares of the company’s stock, valued at $48,899,512.48. The acquisition was disclosed in a document filed with the SEC, which is available via this hyperlink. Company insiders own 15.90% of the company’s shares.
Changes in analyst ratings
Several research analysts recently commented on GRPN shares. Credit Suisse Group reduced their price objective on Groupon from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, November 8th. Goldman Sachs Group cut their target price on Groupon from $10.00 to $6.50 and set a “sell” rating on the stock in a report on Tuesday, November 8th. StockNews.com assumed coverage on Groupon in a report on Wednesday, October 12th. They assign a sell rating to the stock. Finally, Barclays reduced their price objective on Groupon from $10.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday, November 8th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Groupon currently has a consensus rating of “Hold” and a consensus price target of $12.10, according to MarketBeat.
Groupon Company Profile
Groupon, Inc., together with its subsidiaries, operates a marketplace that connects consumers with merchants. It operates in two segments, North America and International. The Company sells goods or services on behalf of third-party merchants; and inventory of first-party goods. It serves customers through its mobile applications and websites.
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