OLD Mutual Customised Solutions Proprietary Ltd. increased its position in The Priceline Group Inc. (NASDAQ:PCLN) by 10.6% during the first quarter, according to its most recent filing with the 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.
Several other hedge funds also recently modified their holdings of the company. Independence Advisors LLC purchased a new position in shares of The Priceline Group during the first quarter worth $221,000. Chevy Chase Trust Holdings Inc. raised its position in shares of The Priceline Group by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 42,955 shares of the business services provider’s stock worth $76,459,000 after buying an additional 1,140 shares during the last quarter. Bridges Investment Management Inc. raised its position in shares of The Priceline Group by 0.4% in the first quarter. Bridges Investment Management Inc. now owns 6,927 shares of the business services provider’s stock worth $12,330,000 after buying an additional 28 shares during the last quarter. Moreno Evelyn V raised its position in shares of The Priceline Group by 7.7% in the first quarter. Moreno Evelyn V now owns 5,036 shares of the business services provider’s stock worth $8,964,000 after buying an additional 358 shares during the last quarter. Finally, Rosenbaum Jay D. raised its position in shares of The Priceline Group by 1.6% in the first quarter. Rosenbaum Jay D. now owns 505 shares of the business services provider’s stock worth $899,000 after buying an additional 8 shares during the last quarter. 95.22% of the stock is currently owned by hedge funds and other institutional investors.
The Priceline Group Inc. (NASDAQ PCLN) traded down 0.16% during mid-day trading on Friday, reaching $1810.00. 486,075 shares of the company were exchanged. The company has a market capitalization of $88.80 billion, a price-to-earnings ratio of 38.44 and a beta of 1.42. The Priceline Group Inc. has a 1-year low of $1,402.67 and a 1-year high of $2,067.99. The company has a 50 day moving average of $1,946.27 and a 200-day moving average of $1,818.99.
The Priceline Group (NASDAQ:PCLN) last posted its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, beating the consensus estimate of $14.25 by $0.89. The company 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 Priceline Group’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business posted $13.93 EPS. On average, equities research analysts forecast that The Priceline Group Inc. will post $74.77 EPS for the current year.
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PCLN has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Cowen and Company restated an “outperform” rating and issued a $2,000.00 price objective on shares of The Priceline Group in a report on Tuesday, May 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $2,300.00 target price (up from $2,250.00) on shares of The Priceline Group in a research note on Thursday, August 10th. Vetr upgraded shares of The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 target price for the company in a research note on Wednesday, May 17th. Finally, J P Morgan Chase & Co boosted their target price on shares of The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,924.32.
In other The Priceline Group news, Director Jan L. Docter sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the transaction, the director now directly owns 320 shares in the company, valued at approximately $600,288. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 5,922 shares in the company, valued at $11,544,761.34. The disclosure for this sale can be found here. Insiders sold a total of 4,367 shares of company stock worth $8,166,685 over the last quarter. 0.42% of the stock is currently owned by company insiders.
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.
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