Renaissance Technologies LLC Grows Stock Holdings in Groupon, Inc. $GRPN

Key Points

• Renaissance Technologies increased its Groupon stake by 464.1% in the first quarter, owning 619,413 shares worth approximately $7.37 million. Institutional investors collectively hold 90.05% of Groupon’s outstanding stock.
• Groupon shares opened at $27.65, well above their 50-day and 200-day moving averages, but the company reported a quarterly loss of $0.32 per share, significantly missing the $0.02 consensus estimate.
• Analyst sentiment remains mixed, with two Buy, one Hold, and two Sell ratings; the stock carries an overall “Hold” rating and an average price target of $19.50.

Renaissance Technologies LLC raised its holdings in Groupon, Inc. (NASDAQ:GRPN - Free Report) by 464.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 619,413 shares of the coupon company's stock after acquiring an additional 509,600 shares during the period. Renaissance Technologies LLC owned 1.63% of Groupon worth $7,371,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GRPN. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Groupon during the third quarter worth $32,000. Quarry LP lifted its position in Groupon by 48.1% during the third quarter. Quarry LP now owns 1,938 shares of the coupon company's stock worth $45,000 after buying an additional 629 shares during the period. Johnson Financial Group Inc. acquired a new stake in Groupon in the 4th quarter worth about $35,000. Raymond James Financial Inc. purchased a new stake in Groupon in the 2nd quarter valued at about $69,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Groupon by 386.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,547 shares of the coupon company's stock valued at $85,000 after acquiring an additional 2,023 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Groupon Stock Up 0.3%

Shares of GRPN stock opened at $27.65 on Tuesday. Groupon, Inc. has a fifty-two week low of $9.17 and a fifty-two week high of $43.08. The firm's 50 day moving average price is $22.49 and its two-hundred day moving average price is $16.82. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -10.59 and a beta of 0.23.

Groupon (NASDAQ:GRPN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The coupon company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.30). The firm had revenue of $117.20 million for the quarter, compared to the consensus estimate of $117.65 million. On average, equities analysts forecast that Groupon, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Citigroup restated an "outperform" rating on shares of Groupon in a report on Tuesday, June 9th. The Goldman Sachs Group reiterated a "sell" rating and issued a $13.00 price target (up from $10.00) on shares of Groupon in a report on Tuesday, May 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Groupon in a research note on Tuesday, June 9th. Wall Street Zen downgraded Groupon from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Northland Securities set a $26.00 target price on Groupon in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.50.

About Groupon

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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