BTR Capital Management Inc. Cuts Holdings in The Priceline Group Inc. (PCLN)

BTR Capital Management Inc. lessened its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155 shares of the business services provider’s stock after selling 30 shares during the period. BTR Capital Management Inc.’s holdings in The Priceline Group were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PCLN. Waldron LP grew its stake in The Priceline Group by 68.9% in the 1st quarter. Waldron LP now owns 412 shares of the business services provider’s stock worth $732,000 after buying an additional 168 shares in the last quarter. Principal Financial Group Inc. grew its stake in The Priceline Group by 1.5% in the 1st quarter. Principal Financial Group Inc. now owns 73,669 shares of the business services provider’s stock worth $131,128,000 after buying an additional 1,053 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in The Priceline Group by 42.9% in the 1st quarter. Stratos Wealth Partners LTD. now owns 613 shares of the business services provider’s stock worth $1,091,000 after buying an additional 184 shares in the last quarter. FMR LLC grew its stake in The Priceline Group by 3.8% in the 1st quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock worth $3,275,411,000 after buying an additional 67,569 shares in the last quarter. Finally, FIL Ltd grew its stake in The Priceline Group by 1.5% in the 1st quarter. FIL Ltd now owns 77,410 shares of the business services provider’s stock worth $137,787,000 after buying an additional 1,119 shares in the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.

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In related news, Director Jan L. Docter sold 2,500 shares of The Priceline Group stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the completion of the sale, the director now directly owns 320 shares in the company, valued at $600,288. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $1,845.97, for a total value of $225,208.34. Following the completion of the sale, the chief executive officer now owns 5,677 shares of the company’s stock, valued at $10,479,571.69. The disclosure for this sale can be found here. Insiders sold 2,867 shares of company stock valued at $5,382,925 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Shares of The Priceline Group Inc. (NASDAQ PCLN) traded up 1.28% on Tuesday, reaching $1903.71. 143,895 shares of the company’s stock traded hands. The stock has a 50-day moving average of $1,887.88 and a 200 day moving average of $1,879.16. The Priceline Group Inc. has a 12-month low of $1,422.19 and a 12-month high of $2,067.99. The firm has a market cap of $93.39 billion, a P/E ratio of 40.43 and a beta of 1.47.

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, beating the consensus estimate of $14.25 by $0.89. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company posted $13.93 earnings per share. On average, equities research analysts expect that The Priceline Group Inc. will post $74.99 earnings per share for the current year.

PCLN has been the subject of a number of research reports. Zacks Investment Research cut shares of The Priceline Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Morgan Stanley boosted their price target on shares of The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Piper Jaffray Companies reissued an “overweight” rating and issued a $110.00 price target (down previously from $2,150.00) on shares of The Priceline Group in a research note on Friday, July 28th. Credit Suisse Group set a $2,150.00 price target on shares of The Priceline Group and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $2,250.00 price target on shares of The Priceline Group in a research note on Friday, August 4th. One equities research 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 company. The Priceline Group has an average rating of “Buy” and an average target price of $1,960.17.

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

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