RMB Capital Management LLC raised its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,096 shares of the business services provider’s stock after buying an additional 544 shares during the period. The Priceline Group comprises 1.3% of RMB Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. RMB Capital Management LLC’s holdings in The Priceline Group were worth $30,430,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BKD Wealth Advisors LLC boosted 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 worth $269,000 after buying an additional 2 shares in the last quarter. Wrapmanager Inc. boosted its position 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. boosted its position 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. boosted its position 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. raised its position 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 in the last quarter. Hedge funds and other institutional investors own 95.01% of the company’s stock.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded up 0.25% during trading on Friday, reaching $1854.17. 620,703 shares of the company’s stock were exchanged. The firm has a market capitalization of $90.96 billion, a P/E ratio of 39.38 and a beta of 1.42. The Priceline Group Inc. has a 52-week low of $1,392.44 and a 52-week high of $2,067.99. 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 target of unusually large options trading activity on Tuesday. Stock traders acquired 15,301 put options on the stock. This is an increase of approximately 209% compared to the typical daily volume of 4,950 put options.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, topping the 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 business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the firm earned $13.93 EPS. The Priceline Group’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities analysts anticipate that The Priceline Group Inc. will post $74.80 earnings per share for the current fiscal year.
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Several equities analysts recently weighed in on the company. Credit Suisse Group restated an “outperform” rating and issued a $2,070.00 price target (down previously from $2,150.00) on shares of The Priceline Group in a research note on Wednesday. Needham & Company LLC restated a “buy” rating on shares of The Priceline Group in a research report on Wednesday, June 21st. MKM Partners reiterated a “buy” rating and issued a $2,050.00 price objective (up from $2,030.00) on shares of The Priceline Group in a report on Wednesday, May 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $2,100.00 price objective on shares of The Priceline Group in a report on Thursday. Finally, Deutsche Bank AG upped their price target on The Priceline Group from $1,725.00 to $2,000.00 and gave the stock a “hold” rating in a research note on Monday, May 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The Priceline Group has an average rating of “Buy” and an average target price of $1,909.30.
In other The Priceline Group news, Director Jan L. Docter sold 1,500 shares of The Priceline Group stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the transaction, the director now owns 346 shares of the company’s stock, valued at $642,753.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the completion of the sale, 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. In the last ninety days, insiders sold 1,744 shares of company stock worth $3,245,648. 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.
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