The Short Interest in Groupon Inc. (GRPN) Decreases By 10.4%

The Short Interest in Groupon Inc. (GRPN) Decreases By 10.4%

Groupon Inc. (NASDAQ:GRPN) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 39,317,226 shares, a decline of 10.4% from the October 31st total of 43,886,069 shares. Based on an average daily volume of 17,698,053 shares, the days-to-cover ratio is presently 2.2 days. Approximately 9.5% of the shares of the stock are short sold.

Shares of Groupon (NASDAQ:GRPN) opened at 4.11 on Monday. The company’s 50-day moving average price is $4.43 and its 200 day moving average price is $4.37. The company’s market cap is $2.36 billion. Groupon has a 12-month low of $2.15 and a 12-month high of $5.94.

Groupon (NASDAQ:GRPN) last issued its quarterly earnings results on Wednesday, October 26th. The coupon company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. Groupon had a negative return on equity of 29.46% and a negative net margin of 6.03%. The firm earned $720.50 million during the quarter, compared to the consensus estimate of $710.82 million. During the same period last year, the business posted $0.05 EPS. The business’s revenue was up 1.0% compared to the same quarter last year.

GRPN has been the subject of several research reports. B. Riley reissued a “neutral” rating and issued a $4.50 target price on shares of Groupon in a research note on Tuesday, November 1st. Piper Jaffray Cos. reissued an “overweight” rating and issued a $6.50 target price on shares of Groupon in a research note on Friday, October 28th. RBC Capital Markets reissued an “underperform” rating and issued a $4.00 target price on shares of Groupon in a research note on Friday, October 28th. Macquarie lifted their target price on Groupon from $5.30 to $6.00 and gave the company an “outperform” rating in a research note on Tuesday, October 4th. Finally, Loop Capital reissued a “hold” rating and issued a $6.00 target price on shares of Groupon in a research note on Wednesday, October 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $4.94.

In other Groupon news, insider James Sullivan sold 20,000 shares of Groupon stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $3.80, for a total value of $76,000.00. Following the completion of the transaction, the insider now owns 302,173 shares in the company, valued at approximately $1,148,257.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Dane A. Drobny sold 30,798 shares of Groupon stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $5.48, for a total value of $168,773.04. Following the completion of the transaction, the general counsel now owns 320,132 shares of the company’s stock, valued at approximately $1,754,323.36. The disclosure for this sale can be found here. 23.86% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. First Midwest Bank Trust Division acquired a new stake in shares of Groupon during the third quarter worth $103,000. Concourse Capital Management LLC acquired a new stake in shares of Groupon during the second quarter worth $104,000. Jasper Ridge Partners L.P. acquired a new stake in shares of Groupon during the second quarter worth $108,000. Royal Bank of Canada increased its stake in shares of Groupon by 80.0% in the second quarter. Royal Bank of Canada now owns 33,375 shares of the coupon company’s stock worth $109,000 after buying an additional 14,829 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Groupon by 3.8% in the second quarter. Legal & General Group Plc now owns 37,848 shares of the coupon company’s stock worth $123,000 after buying an additional 1,369 shares during the last quarter. Hedge funds and other institutional investors own 52.73% of the company’s stock.

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