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LivingSocial to sell all of Groupon stake; buy the dip, says analyst

Jan. 03, 2014 8:49 AM ETGroupon, Inc. (GRPN) StockGRPNBy: Stephen Alpher, SA News Editor2 Comments
  • Groupon (NASDAQ:GRPNslips 1.6% premarket after disclosing LivingSocial's plans to sell its 13.8M share stake (about 2%) in the company. LivingSocial received the stock as part of the sale of Ticket Monster which closed yesterday.
  • Buy on weakness, says Northland Capital, making Groupon its top pick for 2014.
  • "Groupon announced the closing of its Korean Ticket Monster acquisition, which we believe should strategically enhance the growth profile of its Rest of World business ... and provide improved operating leverage over time, " says analyst Darren Aftahi. "However, near-term, the 13.8M shares issued to LivingSocial in the transaction could act as a head wind once they are available to be sold. We would use any weakness to accumulate our top pick for 2014."

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