Connor Clark & Lunn Investment Management Ltd. Invests $2.82 Million in Groupon, Inc. $GRPN

Key Points

• Connor Clark & Lunn Investment Management Ltd. recently invested approximately $2.82 million in Groupon, acquiring 150,104 shares and now holds about 0.38% of the company.
• Groupon's stock is currently trading at $28.50, reflecting a 2.9% drop in trading hours, with a market capitalization of $1.15 billion.
• Analysts have shown optimism for Groupon, with multiple firms raising their price targets and ratings, including a recent upgrade to a "strong-buy" rating from Wall Street Zen.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Groupon, Inc. (NASDAQ:GRPN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 150,104 shares of the coupon company's stock, valued at approximately $2,817,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.38% of Groupon as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Groupon during the 1st quarter worth about $1,079,000. Trust Investment Advisors purchased a new stake in shares of Groupon during the 1st quarter worth about $218,000. Bank of New York Mellon Corp boosted its stake in shares of Groupon by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 74,808 shares of the coupon company's stock worth $1,404,000 after acquiring an additional 1,720 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. boosted its stake in shares of Groupon by 10.5% during the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 198,062 shares of the coupon company's stock worth $3,718,000 after acquiring an additional 18,772 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Groupon by 48,700.0% during the 1st quarter. GAMMA Investing LLC now owns 5,856 shares of the coupon company's stock worth $1,100,000 after acquiring an additional 5,844 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on GRPN shares. Roth Capital raised their price target on shares of Groupon from $33.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, June 20th. The Goldman Sachs Group raised their price target on shares of Groupon from $9.00 to $15.00 and gave the company a "sell" rating in a research note on Monday, May 12th. UBS Group started coverage on shares of Groupon in a research note on Thursday, August 7th. They issued a "mixed" rating on the stock. Roth Mkm raised their price target on shares of Groupon from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Northland Securities raised their price target on shares of Groupon from $39.00 to $44.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.80.

Groupon Price Performance

GRPN traded down $1.0760 during trading on Tuesday, reaching $28.3340. The company's stock had a trading volume of 214,795 shares, compared to its average volume of 1,470,701. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 4.16. The firm has a fifty day simple moving average of $33.53 and a two-hundred day simple moving average of $23.77. Groupon, Inc. has a 1 year low of $7.75 and a 1 year high of $43.08. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -117.68 and a beta of 1.15.

Groupon (NASDAQ:GRPN - Get Free Report) last released its earnings results on Wednesday, August 6th. The coupon company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.48. The business had revenue of $125.70 million for the quarter, compared to analyst estimates of $122.46 million. Groupon had a negative net margin of 1.89% and a negative return on equity of 19.61%. As a group, analysts anticipate that Groupon, Inc. will post -0.31 EPS for the current year.

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. It serves customers through its mobile applications and websites.