
Groupon Inc (NASDAQ:GRPN) director Bradley A. Keywell, in a transaction dated Wednesday, May 28, sold 500,000 shares of the company on the open market, according to a filing with the SEC. As per the record, the shares were unloaded at an average price of $6.17, and the total transaction amounted to nearly $3.1 million. After this sale, Keywell now directly owns 42,043 shares in the company worth $259,405.

Short interest up in Groupon
Short interest in shares of Groupon Inc (NASDAQ:GRPN) has increased in the month of May. As of May 15, total short interest stood at about 61.9 million shares, which is an increase of 13.9% from the April 30 total of around 54.33 million shares. Around 13.6% of the company’s outstanding shares are sold short, and on the basis of an average trading volume of around 26 million shares, the company has a days-to-cover ratio of 2.4 days currently.
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For the first quarter, the company posted a 26% rise in revenues, which was above the consensus estimate. Earlier this month, the company recorded a loss of 1 cent per share on revenues of $757.6 million, compared to analysts’ expectations of a loss of 3 cents per share on revenues of $738 million
A volatile stock
In the last month, many analysts have come out with their verdict on Groupon Inc (NASDAQ:GRPN). In a research note on Friday, May 9, B. Riley analysts lowered their price target on the coupon company from $8 to $6 per share. Deutsche Bank analysts, in a research note on Wednesday, May 7, maintained their Buy rating on the company but lowered the price target from $12 previously to $8 per share. Analysts at Goldman Sachs lowered their price target on Groupon to $8 in a research note on Wednesday, May 7.
Over all, three analysts have a Sell rating on the stock; seven have rated the stock as a Hold, while eight investment analysts assigned a Buy rating to the company. Presently, the coupon company has a consensus rating of Hold and an average target price of $9.75.
Groupon Inc (NASDAQ:GRPN) shares has been extremely volatile, and year to date, the stock is down around 47%. On Friday, Groupon opened at $5.99, and the company has a 52-week low of $5.18 and a 52-week high of $12.76.
Updated on
Valuewalk, thanks manipulating the whole story to create a
scare! The director did not sell 500,000 shares of GRPN, the company he owns
did. The selling only accounts to less than 0.1 percent of the total shares the
company owned. Bradly directly owns 42043
shares has nothing to do with this transaction!
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