logo
  Join        Login             Stock Quote

Groupon (GRPN) Shares Spike After Hedge Fund Discloses 9.9 Percent Stake

 November 20, 2012 11:19 AM


(By Balachander) Groupon Inc. (NASDAQ: GRPN) shares spiked in Tuesday trading after a hedge fund disclosed a 9.9 percent stake in the daily deal website.

Tiger Global Management acquired 65 million shares in Groupon, representing 9.9 percent of the company, a filing with the U.S. Securities and Exchange Commission (SEC) showed.

Shares of Groupon have retreated 84 percent since making public debut in November 2011.

Earlier this month, Groupon posted weaker-than-expected quarterly revenue amid continued challenges in Europe. Total cost of revenue more than doubled in the third quarter.

[Related -Groupon Inc (GRPN): RBC Upgrades Recommendation, With 16% Downside – Say What?]

Net loss was $3.0 million or $0.00 per share for the third quarter, compared with a loss of $54.2 million or $0.18 per share in the comparable period of last year.

Revenue rose 32 percent to $569 million. North America revenue jumped 80.5 percent.

Total cost of revenue more than doubled to $182 million from $68 million in the third quarter of last year.

The company projects fourth-quarter income from operations between $0 million and $20 million on revenue between $625 million and $675 million, while analysts expect revenue of $641.0 million.

The stock, which has been trading in the 52-week range of $2.60 to $26.90, traded 13.04 percent higher at $3.52 on Tuesday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageCrude Rebound

Since the price of crude oil broke below $90 per barrel in September, the Brent global benchmark has been read on...

article imageShould You Invest In The Hottest New Trend In Finance?

Thanks to major changes in regulation, social media and technology, the business of banking has undergone read on...

article imageStrong Attractor in Action Pulling S&P 500 Down

The attractor is formed by the 200-day moving average and the 50% Fibonacci retracement of the up move from read on...

article imageIs The Weak Housing Market A Warning Sign For The US Economy?

Today’s US economic releases – housing starts and business survey data for the manufacturing sector – read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.