Maverick Capital Ltd. Reduces Stock Holdings in Groupon Inc (NASDAQ:GRPN)

Maverick Capital Ltd. lowered its stake in Groupon Inc (NASDAQ:GRPN) by 79.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,136 shares of the coupon company’s stock after selling 914,954 shares during the period. Maverick Capital Ltd.’s holdings in Groupon were worth $620,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in Groupon by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 704,025 shares of the coupon company’s stock worth $1,873,000 after purchasing an additional 8,409 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Groupon during the 3rd quarter valued at about $145,000. State Street Corp boosted its stake in shares of Groupon by 2.8% during the 3rd quarter. State Street Corp now owns 10,785,475 shares of the coupon company’s stock valued at $28,689,000 after purchasing an additional 297,938 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Groupon by 9.3% during the 3rd quarter. First Trust Advisors LP now owns 22,871,349 shares of the coupon company’s stock valued at $60,838,000 after purchasing an additional 1,955,452 shares in the last quarter. Finally, Gabelli Funds LLC increased its position in shares of Groupon by 7.3% during the third quarter. Gabelli Funds LLC now owns 590,000 shares of the coupon company’s stock valued at $1,569,000 after buying an additional 40,000 shares during the period. Institutional investors and hedge funds own 69.92% of the company’s stock.

Several brokerages have commented on GRPN. Wedbush set a $3.50 price objective on shares of Groupon and gave the stock a “hold” rating in a report on Friday, September 27th. BidaskClub raised Groupon from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. DA Davidson set a $5.00 target price on Groupon and gave the stock a “buy” rating in a report on Monday, September 9th. JPMorgan Chase & Co. lowered Groupon from a “neutral” rating to an “underweight” rating and set a $3.00 target price for the company. in a research report on Wednesday, November 6th. Finally, ValuEngine upgraded Groupon from a “sell” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $3.70.

Shares of GRPN stock opened at $2.80 on Tuesday. The company’s fifty day moving average price is $2.91 and its 200-day moving average price is $3.05. The stock has a market cap of $1.64 billion, a PE ratio of 31.11 and a beta of 1.34. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Groupon Inc has a 12 month low of $2.31 and a 12 month high of $3.98.

Groupon (NASDAQ:GRPN) last issued its quarterly earnings results on Monday, November 4th. The coupon company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Groupon had a negative net margin of 2.21% and a positive return on equity of 9.21%. The company had revenue of $495.60 million during the quarter, compared to analyst estimates of $523.71 million. During the same period last year, the business earned $0.08 EPS. Groupon’s quarterly revenue was down 16.4% compared to the same quarter last year. On average, sell-side analysts forecast that Groupon Inc will post 0.09 earnings per share for the current fiscal year.

About Groupon

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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Institutional Ownership by Quarter for Groupon (NASDAQ:GRPN)

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