OLD Mutual Customised Solutions Proprietary Ltd. Increases Stake in The Priceline Group Inc. (PCLN)

OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 10.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 553 shares of the business services provider’s stock after buying an additional 53 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in The Priceline Group were worth $984,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in The Priceline Group during the first quarter valued at $358,128,000. C WorldWide Group Holding A S acquired a new stake in The Priceline Group during the first quarter valued at $189,324,000. Vanguard Group Inc. raised its stake in The Priceline Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 3,204,680 shares of the business services provider’s stock valued at $5,704,234,000 after buying an additional 93,992 shares during the period. Schroder Investment Management Group raised its stake in The Priceline Group by 689.5% in the first quarter. Schroder Investment Management Group now owns 85,556 shares of the business services provider’s stock valued at $153,077,000 after buying an additional 74,719 shares during the period. Finally, FMR LLC raised its stake in The Priceline Group by 3.8% in the first quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock valued at $3,275,411,000 after buying an additional 67,569 shares during the period. 95.01% of the stock is currently owned by institutional investors.

Shares of The Priceline Group Inc. (NASDAQ:PCLN) opened at 1854.17 on Friday. The Priceline Group Inc. has a one year low of $1,392.44 and a one year high of $2,067.99. The company has a market capitalization of $90.96 billion, a P/E ratio of 39.38 and a beta of 1.42. The firm has a 50-day moving average price of $1,950.91 and a 200-day moving average price of $1,809.82. The Priceline Group also was the target of unusually large options trading on Wednesday. Stock traders acquired 17,507 call options on the stock. This represents an increase of approximately 255% compared to the typical volume of 4,928 call 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 return on equity of 33.10% and a net margin of 20.51%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the business posted $13.93 EPS. The business’s revenue was up 18.3% on a year-over-year basis. Equities analysts forecast that The Priceline Group Inc. will post $74.80 earnings per share for the current year.

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PCLN has been the topic of several research analyst reports. Benchmark Co. reaffirmed a “buy” rating and issued a $2,050.00 price objective (up from $1,900.00) on shares of The Priceline Group in a research note on Sunday, May 14th. Deutsche Bank AG raised their price objective on The Priceline Group from $1,725.00 to $2,000.00 and gave the company a “hold” rating in a research note on Monday, May 8th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $2,070.00 price objective (up from $1,915.00) on shares of The Priceline Group in a research note on Monday, May 8th. Macquarie set a $1,970.00 price objective on The Priceline Group and gave the company a “buy” rating in a research note on Tuesday, April 18th. Finally, Goldman Sachs Group, Inc. (The) raised their price objective on The Priceline Group from $1,750.00 to $1,850.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $1,909.30.

In other news, Director Jan L. Docter sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the transaction, the director now owns 346 shares of the company’s stock, valued at approximately $642,753.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $1,814.00, for a total value of $221,308.00. Following the completion of the transaction, the chief executive officer now directly owns 6,044 shares of the company’s stock, 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 valued at $3,245,648 in the last three months. Corporate insiders own 0.42% of the company’s stock.

The Priceline Group Company Profile

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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