Portland Hill Asset Management Ltd Takes Position in The Priceline Group Inc. (PCLN)

Portland Hill Asset Management Ltd acquired a new position in The Priceline Group Inc. (NASDAQ:PCLN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,131 shares of the business services provider’s stock, valued at approximately $7,358,000. The Priceline Group accounts for approximately 3.9% of Portland Hill Asset Management Ltd’s holdings, making the stock its 13th largest position.

Several other institutional investors have also bought and sold shares of the company. BKD Wealth Advisors LLC increased its stake in shares of The Priceline Group by 1.3% in the first quarter. BKD Wealth Advisors LLC now owns 151 shares of the business services provider’s stock valued at $269,000 after buying an additional 2 shares during the period. Wrapmanager Inc. increased its stake in shares of The Priceline Group by 1.1% in the first quarter. Wrapmanager Inc. now owns 268 shares of the business services provider’s stock valued at $477,000 after buying an additional 3 shares during the period. Puplava Financial Services Inc. increased its stake in shares of The Priceline Group by 2.7% in the first quarter. Puplava Financial Services Inc. now owns 192 shares of the business services provider’s stock valued at $342,000 after buying an additional 5 shares during the period. CAPROCK Group Inc. increased its stake in shares of The Priceline Group by 2.5% in the first quarter. CAPROCK Group Inc. now owns 207 shares of the business services provider’s stock valued at $368,000 after buying an additional 5 shares during the period. Finally, First Manhattan Co. increased its stake in shares of The Priceline Group by 5.3% in the first quarter. First Manhattan Co. now owns 100 shares of the business services provider’s stock valued at $147,000 after buying an additional 5 shares during the period. Institutional investors own 95.01% of the company’s stock.

Shares of The Priceline Group Inc. (PCLN) traded up 0.25% on Friday, reaching $1854.17. 617,954 shares of the company were exchanged. The Priceline Group Inc. has a 12-month low of $1,392.44 and a 12-month high of $2,067.99. The firm has a 50 day moving average price of $1,951.16 and a 200-day moving average price of $1,807.68. The stock has a market capitalization of $90.96 billion, a PE ratio of 39.38 and a beta of 1.42. The Priceline Group also was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 15,301 put options on the company. This is an increase of approximately 209% compared to the typical daily volume of 4,950 put options.

The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping the Zacks’ consensus estimate of $14.25 by $0.89. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $13.93 EPS. On average, analysts predict that The Priceline Group Inc. will post $74.80 EPS for the current fiscal year.

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Several equities research analysts recently issued reports on the stock. UBS AG reiterated a “buy” rating and issued a $2,100.00 target price on shares of The Priceline Group in a research note on Thursday. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $2,200.00 target price (up from $2,150.00) on shares of The Priceline Group in a research note on Thursday. Raymond James Financial, Inc. reiterated a “buy” rating on shares of The Priceline Group in a research note on Wednesday. Jefferies Group LLC reiterated a “buy” rating and issued a $2,300.00 target price (up from $2,250.00) on shares of The Priceline Group in a research note on Thursday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $2,100.00 target price on shares of The Priceline Group in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The Priceline Group currently has a consensus rating of “Buy” and an average target price of $1,909.30.

In related news, Director Jan L. Docter sold 1,500 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the transaction, the director now owns 346 shares of the company’s stock, valued at approximately $642,753.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gillian Tans sold 122 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the transaction, the chief executive officer now directly owns 5,922 shares in the company, valued at approximately $11,544,761.34. The disclosure for this sale can be found here. Insiders sold a total of 1,744 shares of company stock worth $3,245,648 in the last three months. Insiders own 0.42% of the company’s stock.

About The Priceline Group

The Priceline Group Inc is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.

Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

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