Groupon (NASDAQ:GRPN) Sets New 52-Week High – Here’s Why

Groupon, Inc. (NASDAQ:GRPN) shares reached a new 52-week high on Tuesday . The stock 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 brokerages have issued reports on GRPN. Ascendiant Capital Markets increased their price target on Groupon from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, March 17th. The Goldman Sachs Group increased their price objective on shares of Groupon from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.75.

Groupon Trading Up 3.5 %

The stock has a market cap of $749.64 million, a price-to-earnings ratio of 36.92 and a beta of 1.41. The business’s 50 day simple moving average is $12.40 and its 200 day simple moving average is $11.32. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.66.

Hedge Funds Weigh In On Groupon

Large investors have recently modified their holdings of the stock. New York State Teachers Retirement System acquired a new position in shares of Groupon in the fourth quarter valued at approximately $26,000. Picton Mahoney Asset Management increased its position in Groupon by 68.2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,446 shares of the coupon company’s stock worth $30,000 after buying an additional 992 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Groupon during the fourth quarter worth $41,000. Amundi lifted its holdings in shares of Groupon by 35.5% during the fourth quarter. Amundi now owns 3,838 shares of the coupon company’s stock worth $47,000 after buying an additional 1,006 shares in the last quarter. Finally, FMR LLC boosted its position 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 acquiring an additional 2,888 shares during the period. 90.05% of the stock is owned by 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.