JPMorgan Chase & Co. decreased its holdings in Groupon (NASDAQ:GRPN) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,497,121 shares of the coupon company’s stock after selling 126,000 shares during the period. JPMorgan Chase & Co. owned about 0.97% of Groupon worth $23,857,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also modified their holdings of GRPN. Paloma Partners Management Co purchased a new stake in Groupon in the fourth quarter valued at $110,000. US Bancorp DE purchased a new stake in shares of Groupon during the 4th quarter worth about $133,000. ETRADE Capital Management LLC purchased a new stake in shares of Groupon during the 4th quarter worth about $157,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Groupon during the 4th quarter worth about $192,000. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Groupon during the 1st quarter worth about $223,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.
In related news, CAO Brian Stevens sold 15,000 shares of the stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $4.62, for a total value of $69,300.00. Following the sale, the chief accounting officer now owns 220,484 shares of the company’s stock, valued at approximately $1,018,636.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric P. Lefkofsky sold 1,500,000 shares of the stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $4.60, for a total transaction of $6,900,000.00. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by corporate insiders.
Groupon (NASDAQ:GRPN) last announced its earnings results on Wednesday, May 9th. The coupon company reported $0.03 earnings per share for the quarter. Groupon had a net margin of 1.13% and a return on equity of 6.53%. The business had revenue of $626.54 million during the quarter, compared to the consensus estimate of $604.16 million. During the same period in the prior year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. research analysts anticipate that Groupon will post 0.09 earnings per share for the current year.
Groupon declared that its board has authorized a stock buyback plan on Wednesday, May 9th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the coupon company to buy up to 11% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
A number of analysts have commented on GRPN shares. Zacks Investment Research raised shares of Groupon from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Morgan Stanley raised shares of Groupon from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $4.27 to $4.40 in a research report on Monday, March 5th. BidaskClub upgraded shares of Groupon from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. UBS Group upgraded shares of Groupon from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $2.90 to $5.99 in a research note on Thursday, May 10th. Finally, ValuEngine upgraded shares of Groupon from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.32.
Groupon, Inc operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount in North America and internationally. The company provides deals in various categories, including events and activities, beauty and spa, health and fitness, food and drink, home and garden, and automotive; and deals on various product lines, such as electronics, sporting goods, jewelries, toys, household items, and apparel, as well as provides discounted and market rates for hotel, airfare, and package deals.
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