Groupon (NASDAQ:GRPN) Sets New 1-Year High – Here’s Why

Groupon, Inc. (NASDAQ:GRPN) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $19.17 and last traded at $19.08, with a volume of 348687 shares. The stock had previously closed at $18.82.

Analysts Set New Price Targets

A number of research firms recently weighed in on GRPN. Ascendiant Capital Markets raised their target price on shares of Groupon from $14.00 to $19.00 and gave the company a “buy” rating in a report on Monday, March 17th. The Goldman Sachs Group boosted their price objective on Groupon from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Groupon has an average rating of “Moderate Buy” and an average target price of $17.75.

Groupon Trading Down 1.3 %

The firm has a market cap of $737.70 million, a P/E ratio of 36.33 and a beta of 1.41. The company’s 50 day simple moving average is $13.04 and its 200-day simple moving average is $11.54. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.66.

Institutional Trading of Groupon

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

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.