Groupon (NASDAQ:GRPN) Shares Gap Up – Still a Buy?

Groupon, Inc. (NASDAQ:GRPN) shares gapped up before the market opened on Wednesday . The stock had previously closed at $9.77, but opened at $12.25. Groupon shares last traded at $13.14, with a volume of 2,466,129 shares.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reduced their price objective on shares of Groupon from $11.00 to $8.00 and set a “sell” rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Groupon Stock Performance

The stock has a market cap of $590.95 million, a P/E ratio of 29.14 and a beta of 1.41. The company has a debt-to-equity ratio of 5.66, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50 day simple moving average is $11.45 and its two-hundred day simple moving average is $11.07.

Hedge Funds Weigh In On Groupon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Groupon by 32.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,463 shares of the coupon company’s stock worth $1,075,000 after acquiring an additional 21,918 shares in the last quarter. Tyro Capital Management LLC acquired a new stake in Groupon in the 4th quarter valued at about $20,964,000. Prentice Capital Management LP raised its stake in Groupon by 291.3% in the fourth quarter. Prentice Capital Management LP now owns 781,694 shares of the coupon company’s stock valued at $9,498,000 after buying an additional 581,943 shares during the period. Prospect Capital Advisors LLC bought a new position in shares of Groupon during the 4th quarter worth approximately $2,935,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Groupon during the 4th quarter worth approximately $422,000. 90.05% of the stock is 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.