Bleakley Financial Group LLC Purchases Shares of 19,850 Groupon, Inc. $GRPN

Bleakley Financial Group LLC purchased a new position in Groupon, Inc. (NASDAQ:GRPN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,850 shares of the coupon company’s stock, valued at approximately $236,000. Bleakley Financial Group LLC owned approximately 0.05% of Groupon as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GRPN. AQR Capital Management LLC purchased a new position in Groupon in the first quarter valued at $224,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Groupon by 31.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,606 shares of the coupon company’s stock worth $837,000 after purchasing an additional 10,588 shares during the period. Legal & General Group Plc increased its holdings in Groupon by 1,098.1% during the 2nd quarter. Legal & General Group Plc now owns 26,658 shares of the coupon company’s stock worth $892,000 after purchasing an additional 24,433 shares during the period. Rhumbline Advisers increased its holdings in Groupon by 9.6% during the 2nd quarter. Rhumbline Advisers now owns 36,632 shares of the coupon company’s stock worth $1,225,000 after purchasing an additional 3,219 shares during the period. Finally, American Century Companies Inc. raised its position in Groupon by 47.6% in the 2nd quarter. American Century Companies Inc. now owns 47,073 shares of the coupon company’s stock valued at $1,575,000 after purchasing an additional 15,177 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GRPN. Wall Street Zen cut Groupon from a “hold” rating to a “sell” rating in a research note on Saturday, May 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. Citigroup restated an “outperform” rating on shares of Groupon in a research note on Tuesday, June 9th. Northland Securities set a $26.00 target price on shares of Groupon in a report on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Groupon in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.50.

Groupon Price Performance

NASDAQ:GRPN opened at $27.83 on Monday. The firm has a market capitalization of $1.06 billion, a PE ratio of -10.66 and a beta of 0.23. The business’s fifty day moving average price is $20.40 and its 200 day moving average price is $16.02. 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 results on Thursday, May 7th. The coupon company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). The business had revenue of $117.20 million during the quarter, compared to the consensus estimate of $117.65 million. As a group, equities analysts anticipate that Groupon, Inc. will post -0.16 EPS for the current year.

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.