Groupon (NASDAQ:GRPN) Hits New 52-Week High - Here's What Happened

Groupon, Inc. (NASDAQ:GRPN - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $33.52 and last traded at $31.33, with a volume of 3752024 shares trading hands. The stock had previously closed at $32.94.

Analysts Set New Price Targets

GRPN has been the subject of a number of analyst reports. Northland Securities lifted their price target on Groupon from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. The Goldman Sachs Group lifted their target price on Groupon from $9.00 to $15.00 and gave the company a "sell" rating in a research report on Monday, May 12th. Roth Capital reiterated a "buy" rating on shares of Groupon in a report on Monday, June 2nd. Roth Mkm raised their price objective on Groupon from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of Groupon from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Groupon has an average rating of "Moderate Buy" and a consensus price target of $23.25.

Groupon Trading Up 4.1%

The stock's 50 day simple moving average is $22.74 and its 200 day simple moving average is $15.96. The firm has a market cap of $1.30 billion, a PE ratio of 63.94 and a beta of 1.04. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.93 and a current ratio of 0.93.

Groupon (NASDAQ:GRPN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The coupon company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.38. The company had revenue of $117.19 million during the quarter, compared to the consensus estimate of $115.51 million. Groupon had a net margin of 3.87% and a return on equity of 91.94%. On average, sell-side analysts forecast that Groupon, Inc. will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Groupon

Large investors have recently modified their holdings of the company. New York State Teachers Retirement System bought a new position in Groupon during the fourth quarter valued at approximately $26,000. Picton Mahoney Asset Management boosted its stake in shares of Groupon by 68.2% in the 4th quarter. Picton Mahoney Asset Management now owns 2,446 shares of the coupon company's stock valued at $30,000 after purchasing an additional 992 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Groupon during the 4th quarter valued at $41,000. Amundi raised its position in Groupon by 35.5% in the 4th quarter. Amundi now owns 3,838 shares of the coupon company's stock worth $47,000 after purchasing an additional 1,006 shares during the period. Finally, AlphaQuest LLC raised its position in Groupon by 383.5% in the 1st quarter. AlphaQuest LLC now owns 3,718 shares of the coupon company's stock worth $70,000 after purchasing an additional 2,949 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

About Groupon

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.