The Priceline Group Inc. (PCLN) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc lessened its position in The Priceline Group Inc. (NASDAQ:PCLN) by 25.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,166 shares of the business services provider’s stock after selling 390 shares during the quarter. Morse Asset Management Inc’s holdings in The Priceline Group were worth $2,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Well Done LLC increased its stake 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 valued at $327,000 after acquiring an additional 2 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in The Priceline Group by 0.5% in the second quarter. Pinnacle Associates Ltd. now owns 617 shares of the business services provider’s stock valued at $1,154,000 after acquiring an additional 3 shares during the last quarter. LS Investment Advisors LLC increased its stake in The Priceline Group by 0.4% in the second quarter. LS Investment Advisors LLC now owns 906 shares of the business services provider’s stock valued at $1,695,000 after acquiring an additional 4 shares during the last quarter. First National Bank of Hutchinson increased its stake in The Priceline Group by 1.0% in the second quarter. First National Bank of Hutchinson now owns 425 shares of the business services provider’s stock valued at $857,000 after acquiring an additional 4 shares during the last quarter. Finally, Hedeker Wealth LLC increased its stake in The Priceline Group by 1.0% in the first quarter. Hedeker Wealth LLC now owns 511 shares of the business services provider’s stock valued at $909,000 after acquiring an additional 5 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Jan L. Docter sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total transaction of $4,689,750.00. Following the transaction, the director now directly owns 320 shares in the company, valued at $600,288. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $1,845.97, for a total transaction of $225,208.34. Following the transaction, the chief executive officer now owns 5,677 shares in the company, valued at $10,479,571.69. The disclosure for this sale can be found here. Insiders sold a total of 2,867 shares of company stock worth $5,382,925 over the last 90 days. Insiders own 0.24% of the company’s stock.

The Priceline Group (NASDAQ:PCLN) last issued its earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping the Zacks’ consensus estimate of $14.25 by $0.89. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $13.93 EPS.

PCLN has been the topic of a number of research analyst reports. Morgan Stanley increased their target price on The Priceline Group from $1,950.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating and issued a $2,300.00 target price (up previously from $2,250.00) on shares of The Priceline Group in a research note on Thursday, August 10th. UBS AG reaffirmed a “buy” rating and set a $2,100.00 price objective on shares of The Priceline Group in a research note on Thursday, August 10th. MKM Partners reaffirmed a “buy” rating and set a $2,225.00 price objective (up from $2,050.00) on shares of The Priceline Group in a research note on Monday, August 14th. Finally, Zacks Investment Research cut The Priceline Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One 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 issued a strong buy rating to the stock. The Priceline Group has an average rating of “Buy” and an average price target of $1,960.17.

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

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