Groupon Inc Common Stock (NASDAQ:GRPN) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 41,009,076 shares, an increase of 5.3% from the July 13th total of 38,937,382 shares. Approximately 9.3% of the company’s shares are short sold. Based on an average trading volume of 10,310,129 shares, the days-to-cover ratio is currently 4.0 days.
Several research firms have weighed in on GRPN. BidaskClub lowered shares of Groupon Inc Common Stock from a “buy” rating to a “hold” rating in a report on Friday, June 8th. UBS Group upgraded shares of Groupon Inc Common Stock from a “sell” rating to a “neutral” rating and increased their target price for the stock from $2.90 to $5.99 in a report on Thursday, May 10th. Zacks Investment Research lowered shares of Groupon Inc Common Stock from a “buy” rating to a “hold” rating in a report on Thursday. Barclays reiterated a “sell” rating and issued a $4.50 target price on shares of Groupon Inc Common Stock in a report on Sunday, August 5th. Finally, ValuEngine upgraded shares of Groupon Inc Common Stock from a “sell” rating to a “hold” rating in a report on Friday, May 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Groupon Inc Common Stock has a consensus rating of “Hold” and a consensus target price of $5.54.
Shares of NASDAQ:GRPN opened at $4.35 on Monday. Groupon Inc Common Stock has a 12 month low of $3.80 and a 12 month high of $5.99. The company has a current ratio of 0.92, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.54 billion, a P/E ratio of -145.00, a P/E/G ratio of 27.88 and a beta of 1.47.
Groupon Inc Common Stock announced that its Board of Directors has approved a share repurchase program on Wednesday, May 9th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the coupon company to purchase up to 11% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other Groupon Inc Common Stock news, Director Eric P. Lefkofsky sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $4.60, for a total value of $6,900,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Stevens sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $4.62, for a total transaction of $69,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 220,484 shares in the company, valued at $1,018,636.08. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Element Capital Management LLC acquired a new stake in shares of Groupon Inc Common Stock during the first quarter worth $110,000. Envestnet Asset Management Inc. raised its holdings in shares of Groupon Inc Common Stock by 115.2% during the second quarter. Envestnet Asset Management Inc. now owns 32,063 shares of the coupon company’s stock worth $138,000 after acquiring an additional 17,167 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of Groupon Inc Common Stock during the fourth quarter worth $192,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Groupon Inc Common Stock during the second quarter worth $209,000. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of Groupon Inc Common Stock during the first quarter worth $223,000. Institutional investors and hedge funds own 64.87% of the company’s stock.
About Groupon Inc Common Stock
Groupon, Inc operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount in North America and internationally. The company provides deals in various categories, including events and activities, beauty and spa, health and fitness, food and drink, home and garden, and automotive; and deals on various product lines, such as electronics, sporting goods, jewelries, toys, household items, and apparel, as well as provides discounted and market rates for hotel, airfare, and package deals.
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