Washington Trust Bank reduced its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,581 shares of the business services provider’s stock after selling 62 shares during the period. Washington Trust Bank’s holdings in The Priceline Group were worth $2,957,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PCLN. Well Done LLC raised its position in The Priceline Group by 1.2% in the second quarter. Well Done LLC now owns 175 shares of the business services provider’s stock worth $327,000 after buying an additional 2 shares during the period. Dubuque Bank & Trust Co. raised its position in The Priceline Group by 28.2% in the second quarter. Dubuque Bank & Trust Co. now owns 109 shares of the business services provider’s stock worth $204,000 after buying an additional 24 shares during the period. Oakbrook Investments LLC bought a new position in The Priceline Group during the second quarter worth $655,000. BTIM Corp. raised its position in The Priceline Group by 8.1% in the second quarter. BTIM Corp. now owns 10,040 shares of the business services provider’s stock worth $18,780,000 after buying an additional 753 shares during the period. Finally, Tesco Pension Investment Ltd bought a new position in The Priceline Group during the second quarter worth $38,894,000. 95.01% of the stock is owned by hedge funds and other institutional investors.
Shares of The Priceline Group Inc. (NASDAQ PCLN) traded up 0.25% during mid-day trading on Friday, hitting $1854.17. 620,703 shares of the stock were exchanged. The Priceline Group Inc. has a one year low of $1,392.44 and a one year high of $2,067.99. The stock has a market cap of $90.96 billion, a PE ratio of 39.38 and a beta of 1.42. The company has a 50-day moving average of $1,951.16 and a 200 day moving average of $1,807.68. The Priceline Group also was the recipient of unusually large options trading activity on Tuesday. Traders acquired 15,301 put options on the company. This represents an increase of approximately 209% compared to the typical daily volume of 4,950 put options.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $14.25 by $0.89. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the company earned $13.93 earnings per share. The business’s revenue was up 18.3% compared to the same quarter last year. On average, equities analysts predict that The Priceline Group Inc. will post $74.80 earnings per share for the current year.
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Several analysts have commented on the company. BidaskClub upgraded The Priceline Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Goldman Sachs Group, Inc. (The) raised their price target on The Priceline Group from $1,750.00 to $1,850.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 10th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $2,000.00 price target (up from $1,860.00) on shares of The Priceline Group in a research note on Thursday, April 13th. Macquarie set a $1,970.00 target price on The Priceline Group and gave the company a “buy” rating in a research report on Tuesday, April 18th. Finally, J P Morgan Chase & Co lifted their target price on The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have issued 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 company’s stock in a transaction dated 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 in the company, valued at approximately $642,753.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $1,814.00, for a total transaction of $221,308.00. Following the transaction, the chief executive officer now owns 6,044 shares in the company, valued at approximately $10,963,816. 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 90 days. 0.42% of the stock is owned by corporate insiders.
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.
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