Groupon, Inc. $GRPN Holdings Raised by Bank of America Corp DE

Key Points

• Bank of America increased its Groupon stake by 64.2% in the first quarter, adding 248,928 shares to own 636,480 shares worth approximately $7.6 million, or 1.68% of the company.
• Institutional investors and hedge funds collectively own 90.05% of Groupon, while the stock recently traded at $19.59, well below its 52-week high of $29.90.
• Groupon’s latest quarterly loss of $0.04 per share beat estimates, but revenue of $124.67 million fell short of expectations. Analysts maintain a consensus “Reduce” rating with a $26 average price target.

Bank of America Corp DE increased its position in shares of Groupon, Inc. (NASDAQ:GRPN - Free Report) by 64.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 636,480 shares of the coupon company's stock after purchasing an additional 248,928 shares during the quarter. Bank of America Corp DE owned 1.68% of Groupon worth $7,574,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GRPN. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Groupon during the third quarter worth $32,000. Johnson Financial Group Inc. bought a new position in shares of Groupon in the 4th quarter worth about $35,000. Quarry LP boosted its holdings in shares of Groupon by 48.1% in the 3rd quarter. Quarry LP now owns 1,938 shares of the coupon company's stock valued at $45,000 after buying an additional 629 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Groupon in the 2nd quarter valued at about $69,000. Finally, National Bank of Canada FI grew its position in shares of Groupon by 172,400.0% during the 3rd quarter. National Bank of Canada FI now owns 3,450 shares of the coupon company's stock valued at $81,000 after buying an additional 3,448 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Groupon Stock Down 0.2%

Groupon stock opened at $19.59 on Wednesday. The firm has a 50-day moving average price of $23.76 and a two-hundred day moving average price of $17.58. The firm has a market capitalization of $796.73 million, a price-to-earnings ratio of -6.30 and a beta of 0.23. 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 announced its quarterly earnings results on Thursday, August 6th. The coupon company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $124.67 million during the quarter, compared to analyst estimates of $127.09 million. Research analysts expect that Groupon, Inc. will post -0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

GRPN has been the topic of several research reports. Wall Street Zen upgraded shares of Groupon from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Citigroup restated an "outperform" rating on shares of Groupon in a research note on Tuesday, June 9th. Northland Securities set a $30.00 target price on Groupon in a report on Monday, August 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Groupon in a research report on Tuesday, June 9th. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $22.00 price target on shares of Groupon in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $26.00.

Groupon 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.

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