T. Rowe Price substantially reduces its stake in Groupon
T. Rowe Price had reduced its stake in daily deal website Groupon, while increasing its ownership in Kayak Software Corp., the travel comparison site, according to filings with the Securities and Exchange Commission.
The Baltimore-based investment company owned 14.2 million shares, or 2.1 percent, of Groupon at the end of November, according to a document filed Monday. That's down from an 11.6 percent stake at the end of July. Groupon's stock, which traded as high as $25.83 per share in February, closed Tuesday at $4.41 per share.
Price meanwhile raised its position in Kayak from 4.38 percent in September to 14.6 percent at the end of November, according to Bloomberg News. Kayak's stock, which traded at a yearly low of $26 in July, closed Tuesday at $40 a share.