Groupon Inc. (GRPN) Issues Earnings Results, Beats Estimates By $0.01 EPS
Groupon Inc. (NASDAQ:GRPN) announced its quarterly earnings data on Wednesday. The coupon company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Groupon had a negative net margin of 5.71% and a negative return on equity of 14.95%. The company earned $720.50 million during the quarter, compared to analyst estimates of $710.82 million. During the same period in the previous year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis.
Shares of Groupon (NASDAQ:GRPN) opened at 5.26 on Thursday. The company has a 50-day moving average of $5.18 and a 200-day moving average of $4.39. The stock’s market capitalization is $3.02 billion. Groupon has a 52-week low of $2.15 and a 52-week high of $5.94.
A number of equities research analysts have commented on the stock. Loop Capital reaffirmed a “hold” rating and issued a $6.00 target price on shares of Groupon in a research report on Wednesday. Zacks Investment Research raised shares of Groupon from a “hold” rating to a “strong-buy” rating and set a $5.75 target price for the company in a research report on Wednesday, October 19th. Wedbush raised shares of Groupon from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $4.50 to $6.50 in a research report on Monday, October 17th. Macquarie lifted their target price on shares of Groupon from $5.30 to $6.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 4th. Finally, Boenning Scattergood assumed coverage on shares of Groupon in a research report on Thursday, September 29th. They issued a “neutral” rating for the company. Three analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Groupon has a consensus rating of “Hold” and an average target price of $6.70.
In other news, insider James Sullivan sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $5.81, for a total value of $116,200.00. Following the sale, the insider now directly owns 299,778 shares of the company’s stock, valued at approximately $1,741,710.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter J. Barris sold 730,349 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $5.69, for a total transaction of $4,155,685.81. Following the completion of the sale, the director now directly owns 116,923 shares in the company, valued at $665,291.87. The disclosure for this sale can be found here. 23.86% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Invictus RG increased its stake in Groupon by 79.9% in the first quarter. Invictus RG now owns 30,777 shares of the coupon company’s stock worth $123,000 after buying an additional 13,670 shares during the period. CWM LLC increased its stake in Groupon by 17.5% in the second quarter. CWM LLC now owns 1,182,362 shares of the coupon company’s stock worth $3,843,000 after buying an additional 175,935 shares during the period. Acadian Asset Management LLC increased its stake in Groupon by 17.3% in the second quarter. Acadian Asset Management LLC now owns 1,200,366 shares of the coupon company’s stock worth $3,902,000 after buying an additional 177,009 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Groupon during the first quarter worth about $760,000. Finally, Bayesian Capital Management LP bought a new stake in Groupon during the first quarter worth about $220,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.
Groupon Company Profile
Groupon, Inc operates online local commerce marketplaces throughout the world that connect merchants to consumers by offering goods and services at a discount. The Company operates through three segments: North America, which represents the United States and Canada; EMEA, which consists of Europe, the Middle East and Africa, and international operations (Rest of World).
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