Groupon (NASDAQ:GRPN) Shares Down 4.8% – Here’s Why

Groupon, Inc. (NASDAQ:GRPN) shares were down 4.8% on Tuesday . The stock traded as low as $26.55 and last traded at $26.60. Approximately 584,642 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,632,478 shares. The stock had previously closed at $27.95.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and set a $13.00 target price (up from $10.00) on shares of Groupon in a report on Tuesday, May 12th. Northland Securities set a $26.00 price objective on shares of Groupon in a research report on Wednesday, May 27th. Citigroup restated an “outperform” rating on shares of Groupon in a report on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Groupon in a research report on Tuesday, June 9th. Finally, Wall Street Zen downgraded Groupon from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.50.

Groupon Price Performance

The firm has a market capitalization of $1.02 billion, a P/E ratio of -10.31 and a beta of 0.23. The business’s 50-day moving average is $20.62 and its 200 day moving average is $16.10.

Groupon (NASDAQ:GRPN) last posted its quarterly earnings data on Thursday, May 7th. The coupon company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). The business had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $117.65 million. Analysts anticipate that Groupon, Inc. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Groupon

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Groupon by 22.2% during the third quarter. Vanguard Group Inc. now owns 2,108,578 shares of the coupon company’s stock worth $49,235,000 after buying an additional 383,277 shares in the last quarter. Bank of America Corp DE lifted its position 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 valued at $38,017,000 after acquiring an additional 962,337 shares during the period. Garnet Equity Capital Holdings Inc. grew its holdings 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 purchasing an additional 40,000 shares in the last quarter. State Street Corp increased its position in shares of Groupon by 25.8% in the fourth quarter. State Street Corp now owns 881,422 shares of the coupon company’s stock worth $15,522,000 after purchasing 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 valued at $13,938,000 after buying an additional 698,270 shares during the period. 90.05% of the stock is currently owned by institutional investors.

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.