Engineers Gate Manager LP Lowers Stock Position in Groupon, Inc. $GRPN

Key Points

• Engineers Gate Manager LP cut its Groupon stake by 92.1% in the second quarter, selling 226,886 shares and retaining 19,406 shares valued at approximately $467,000.
• Groupon reported a quarterly loss of $0.04 per share, beating estimates by $0.02, while revenue of $124.67 million fell short of analyst expectations.
• Analyst sentiment remains mixed but leans negative: Groupon has a consensus “Reduce” rating and a $26 price target, compared with the stock’s reported opening price of $20.04.

Engineers Gate Manager LP reduced its position in Groupon, Inc. (NASDAQ:GRPN - Free Report) by 92.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,406 shares of the coupon company's stock after selling 226,886 shares during the quarter. Engineers Gate Manager LP's holdings in Groupon were worth $467,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in Groupon by 92.7% in the second quarter. Versant Capital Management Inc now owns 1,299 shares of the coupon company's stock valued at $31,000 after acquiring an additional 625 shares during the period. Royal Bank of Canada grew its position in shares of Groupon by 10.6% in the first quarter. Royal Bank of Canada now owns 7,618 shares of the coupon company's stock valued at $90,000 after purchasing an additional 731 shares in the last quarter. Headlands Technologies LLC increased its position in Groupon by 10.1% during the second quarter. Headlands Technologies LLC now owns 15,054 shares of the coupon company's stock worth $362,000 after purchasing an additional 1,382 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Groupon by 13.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,129 shares of the coupon company's stock worth $316,000 after purchasing an additional 1,553 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in Groupon by 135.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,185 shares of the coupon company's stock valued at $56,000 after purchasing an additional 1,835 shares during the period. 90.05% of the stock is owned by institutional investors.

Groupon Stock Performance

GRPN stock opened at $20.04 on Thursday. The stock has a market cap of $815.03 million, a P/E ratio of -6.44 and a beta of 0.24. The firm has a 50 day simple moving average of $22.28 and a 200 day simple moving average of $18.56. Groupon, Inc. has a 52 week low of $9.17 and a 52 week high of $29.90.

Groupon (NASDAQ:GRPN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The coupon company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $124.67 million during the quarter, compared to analyst estimates of $127.09 million. Sell-side analysts predict that Groupon, Inc. will post -0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GRPN shares. Wall Street Zen upgraded shares of Groupon from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Groupon in a research report on Friday, September 4th. Citigroup reiterated an "outperform" rating on shares of Groupon in a research note on Tuesday, June 9th. The Goldman Sachs Group restated a "sell" rating and issued a $22.00 price target on shares of Groupon in a research report on Monday, August 10th. Finally, Northland Securities set a $30.00 price objective on Groupon in a research report on Monday, August 17th. One research analyst has 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 company presently has a consensus rating of "Reduce" and a consensus price target of $26.00.

About Groupon

Groupon, Inc NASDAQ: GRPN operates a digital marketplace that connects consumers with local merchants and service providers. Through its website and mobile applications, the company offers discounted deals and promotions for restaurants, entertainment, travel, beauty and wellness, automotive services, home services, and other local experiences.

Groupon's platform is designed to help merchants attract new customers, promote available services and manage marketing offers, while giving consumers access to discounts and curated experiences in their communities.

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