Groupon (NASDAQ:GRPN) Reaches New 12-Month High – Here’s Why

Groupon, Inc. (NASDAQ:GRPN)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.50 and last traded at $18.24, with a volume of 1612161 shares traded. The stock had previously closed at $17.99.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Groupon from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Friday, March 14th. Ascendiant Capital Markets upped their price objective on shares of Groupon from $14.00 to $19.00 and gave the company a “buy” rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Groupon has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

Groupon Trading Up 1.4 %

The business has a fifty day moving average of $12.11 and a 200-day moving average of $11.22. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $726.15 million, a P/E ratio of 35.77 and a beta of 1.41.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System bought a new position in Groupon in the 4th quarter valued at about $26,000. Picton Mahoney Asset Management boosted its position in shares of Groupon by 68.2% during the fourth quarter. Picton Mahoney Asset Management now owns 2,446 shares of the coupon company’s stock valued at $30,000 after buying an additional 992 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Groupon during the fourth quarter worth $41,000. Amundi raised its position in Groupon by 35.5% in the 4th quarter. Amundi now owns 3,838 shares of the coupon company’s stock valued at $47,000 after buying an additional 1,006 shares during the last quarter. Finally, FMR LLC raised its position in Groupon by 112.5% in the 3rd quarter. FMR LLC now owns 5,456 shares of the coupon company’s stock valued at $53,000 after buying an additional 2,888 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

About Groupon

Groupon, Inc, together with its subsidiaries, operates a marketplace that connects consumers to merchants. It operates in two segments, North America and International. The company sells goods or services on behalf of third-party merchants. It serves customers through its mobile applications and websites.