Groupon, Inc. (NASDAQ:GRPN – Get Free Report) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 5,140,000 shares, a drop of 6.0% from the October 15th total of 5,470,000 shares. Currently, 31.8% of the shares of the stock are sold short. Based on an average daily volume of 1,460,000 shares, the short-interest ratio is presently 3.5 days.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP purchased a new position in Groupon during the first quarter worth about $6,673,000. Federated Hermes Inc. increased its holdings in shares of Groupon by 170.8% during the 1st quarter. Federated Hermes Inc. now owns 542,552 shares of the coupon company’s stock worth $10,433,000 after buying an additional 342,198 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Groupon during the 1st quarter valued at approximately $1,332,000. Invesco Ltd. raised its position in shares of Groupon by 158.8% during the 3rd quarter. Invesco Ltd. now owns 513,075 shares of the coupon company’s stock valued at $7,860,000 after buying an additional 314,812 shares during the period. Finally, Two Sigma Investments LP acquired a new position in Groupon in the first quarter valued at approximately $1,123,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on GRPN. Barclays upped their price target on shares of Groupon from $4.00 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Credit Suisse Group raised their target price on Groupon from $3.40 to $8.00 and gave the company a “neutral” rating in a research report on Friday, August 11th. Roth Mkm began coverage on Groupon in a research report on Thursday, October 12th. They set a “buy” rating and a $30.00 price target for the company. The Goldman Sachs Group raised their price objective on Groupon from $4.00 to $5.00 and gave the company a “sell” rating in a report on Tuesday, November 14th. Finally, StockNews.com raised shares of Groupon from a “sell” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.25.
Groupon Stock Performance
Shares of Groupon stock opened at $9.54 on Friday. The business’s 50 day moving average price is $12.40 and its 200 day moving average price is $8.88. The company has a market cap of $303.69 million, a price-to-earnings ratio of -2.12 and a beta of 1.60. Groupon has a one year low of $2.89 and a one year high of $16.25.
Groupon Company Profile
Groupon, Inc, together with its subsidiaries, operates a marketplace that connects consumers to merchants. It operates in two segments, North America and International. The company sells goods or services on behalf of third-party merchants; and first-party goods inventory. It serves customers through its mobile applications and websites.
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