Pinebridge Investments L.P. Reduces Stake in The Priceline Group Inc. (PCLN)

Pinebridge Investments L.P. reduced its position in The Priceline Group Inc. (NASDAQ:PCLN) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,167 shares of the business services provider’s stock after selling 401 shares during the period. Pinebridge Investments L.P.’s holdings in The Priceline Group were worth $16,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in PCLN. Harding Loevner LP boosted its stake in shares of The Priceline Group by 2,593.1% in the 3rd quarter. Harding Loevner LP now owns 5,254,041 shares of the business services provider’s stock worth $347,846,000 after buying an additional 5,058,945 shares during the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of The Priceline Group by 210,283.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock worth $523,000 after buying an additional 977,817 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of The Priceline Group by 654.1% in the 2nd quarter. Janus Henderson Group PLC now owns 642,567 shares of the business services provider’s stock worth $1,201,971,000 after buying an additional 557,358 shares during the last quarter. Capital Research Global Investors lifted its position in The Priceline Group by 7.1% during the second quarter. Capital Research Global Investors now owns 1,622,668 shares of the business services provider’s stock valued at $3,035,233,000 after purchasing an additional 108,187 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in The Priceline Group during the third quarter valued at $174,056,000. Hedge funds and other institutional investors own 94.26% of the company’s stock.

In other news, Director Jan L. Docter sold 1,200 shares of The Priceline Group stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the sale, the director now directly owns 142 shares of the company’s stock, valued at $250,561.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction dated Friday, September 15th. The stock was 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 directly owns 5,677 shares in the company, valued at $10,479,571.69. The disclosure for this sale can be found here. Insiders sold 1,567 shares of company stock worth $2,790,353 over the last ninety days. Insiders own 0.24% of the company’s stock.

Shares of The Priceline Group Inc. (NASDAQ PCLN) opened at $1,735.30 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $84,844.85, a PE ratio of 23.37, a price-to-earnings-growth ratio of 1.38 and a beta of 1.41. The Priceline Group Inc. has a twelve month low of $1,459.49 and a twelve month high of $2,067.99.

The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 EPS for the quarter, beating the Zacks’ consensus estimate of $34.31 by $0.91. The business had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.34 billion. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $29.69 earnings per share. equities research analysts predict that The Priceline Group Inc. will post 74.42 EPS for the current year.

Several equities analysts recently weighed in on the company. UBS reiterated a “buy” rating and set a $2,100.00 target price on shares of The Priceline Group in a research report on Thursday, August 10th. Susquehanna Bancshares reiterated a “positive” rating and set a $2,200.00 target price (up from $2,150.00) on shares of The Priceline Group in a research report on Thursday, August 10th. Barclays reiterated an “overweight” rating on shares of The Priceline Group in a research report on Wednesday, August 9th. Credit Suisse Group reiterated an “outperform” rating and set a $2,000.00 target price (down from $2,070.00) on shares of The Priceline Group in a research report on Tuesday, November 7th. Finally, Citigroup reiterated a “buy” rating and set a $2,050.00 target price on shares of The Priceline Group in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. The Priceline Group has a consensus rating of “Buy” and an average price target of $2,011.16.

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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.

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

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