Bank of New York Mellon Corp bought a new position in shares of Groupon, Inc. (NASDAQ:GRPN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 71,847 shares of the coupon company's stock, valued at approximately $1,729,000. Bank of New York Mellon Corp owned 0.19% of Groupon as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of Groupon by 28.3% during the first quarter. Dimensional Fund Advisors LP now owns 580,873 shares of the coupon company's stock worth $6,910,000 after acquiring an additional 128,097 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Groupon by 464.1% in the first quarter. Renaissance Technologies LLC now owns 619,413 shares of the coupon company's stock worth $7,371,000 after buying an additional 509,600 shares in the last quarter. Bank of America Corp DE grew its stake in Groupon by 64.2% during the first quarter. Bank of America Corp DE now owns 636,480 shares of the coupon company's stock valued at $7,574,000 after acquiring an additional 248,928 shares in the last quarter. SummitTX Capital L.P. grew its position in shares of Groupon by 432.6% during the 1st quarter. SummitTX Capital L.P. now owns 81,366 shares of the coupon company's stock valued at $968,000 after purchasing an additional 66,088 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Groupon during the 1st quarter valued at $2,416,000. Institutional investors own 90.05% of the company's stock.
Groupon Price Performance
Shares of NASDAQ GRPN opened at $18.95 on Wednesday. Groupon, Inc. has a 1 year low of $9.17 and a 1 year high of $29.90. The company's 50-day moving average is $23.68 and its 200 day moving average is $18.03. The stock has a market capitalization of $770.70 million, a P/E ratio of -6.09 and a beta of 0.24.
Groupon (NASDAQ:GRPN - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The coupon company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $124.67 million during the quarter, compared to analysts' expectations of $127.09 million. Research analysts anticipate that Groupon, Inc. will post -0.14 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Wall Street Zen raised Groupon from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $22.00 price objective on shares of Groupon in a research note on Monday, August 10th. Citigroup reissued an "outperform" rating on shares of Groupon in a research note on Tuesday, June 9th. Northland Securities set a $30.00 target price on shares of Groupon in a report on Monday, August 17th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Groupon in a research report on Friday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $26.00.
Check Out Our Latest Research Report on GRPN
About Groupon
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Free Report)
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.
Further Reading
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