Pictet Asset Management Ltd. lessened its stake in shares of Groupon Inc (NASDAQ:GRPN) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,711,436 shares of the coupon company’s stock after selling 486,910 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Groupon were worth $27,607,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of GRPN. Moors & Cabot Inc. acquired a new position in shares of Groupon during the first quarter valued at approximately $40,000. Piedmont Investment Advisors Inc. acquired a new position in shares of Groupon during the first quarter valued at approximately $48,000. Hellman Jordan Management Co. Inc. MA acquired a new position in shares of Groupon during the first quarter valued at approximately $48,000. Joseph P. Lucia & Associates LLC acquired a new position in shares of Groupon during the second quarter valued at approximately $71,000. Finally, American Money Management LLC acquired a new position in shares of Groupon during the second quarter valued at approximately $86,000. Institutional investors and hedge funds own 67.25% of the company’s stock.
Groupon stock traded down $0.13 during mid-day trading on Thursday, hitting $2.88. The company’s stock had a trading volume of 349,706 shares, compared to its average volume of 5,256,507. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $1.57 billion, a P/E ratio of 32.11 and a beta of 1.34. Groupon Inc has a twelve month low of $2.31 and a twelve month high of $4.03. The stock’s fifty day moving average price is $2.72 and its two-hundred day moving average price is $3.30.
A number of research firms recently commented on GRPN. BidaskClub lowered shares of Groupon from a “sell” rating to a “strong sell” rating in a research note on Friday, August 9th. DA Davidson set a $5.00 price objective on shares of Groupon and gave the company a “buy” rating in a research note on Monday. Finally, ValuEngine lowered shares of Groupon from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Groupon currently has an average rating of “Hold” and a consensus price target of $4.32.
In other Groupon news, Director Robert J. Bass purchased 50,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were purchased at an average price of $2.58 per share, for a total transaction of $129,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.50% of the company’s 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, jewelry, toys, household items, and apparel, as well as discounted and market rates for hotel, airfare, and package deals.
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