The Priceline Group (PCLN) Downgraded by MKM Partners

The Priceline Group (NASDAQ:PCLN) was downgraded by investment analysts at MKM Partners from a “buy” rating to a “neutral” rating in a research report issued on Thursday.

Several other analysts have also recently commented on PCLN. Royal Bank Of Canada raised their target price on shares of The Priceline Group from $2,000.00 to $2,050.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. UBS reiterated a “buy” rating and issued a $2,100.00 price objective on shares of The Priceline Group in a research note on Thursday, August 10th. Macquarie raised their price objective on shares of The Priceline Group from $2,000.00 to $2,200.00 and gave the company a “positive” rating in a research note on Wednesday, August 9th. Raymond James Financial restated a “buy” rating on shares of The Priceline Group in a research report on Wednesday, August 9th. Finally, Barclays restated an “overweight” rating on shares of The Priceline Group in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $2,011.16.

The Priceline Group (NASDAQ:PCLN) traded down $5.84 during midday trading on Thursday, hitting $1,719.04. 397,500 shares of the company were exchanged, compared to its average volume of 458,394. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.52 and a quick ratio of 2.52. The stock has a market cap of $84,121.60, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.40. The Priceline Group has a 1 year low of $1,459.49 and a 1 year high of $2,067.99.

The Priceline Group (NASDAQ:PCLN) last posted its 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 Priceline Group had a net margin of 29.20% and a return on equity of 33.02%. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the firm posted $29.69 EPS. The company’s revenue was up 20.1% on a year-over-year basis. equities analysts expect that The Priceline Group will post 74.42 earnings per share for the current year.

In other news, Director Jan L. Docter sold 1,200 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the sale, the director now owns 142 shares in the company, valued at $250,561.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $1,940.00, for a total value of $236,680.00. Following the completion of the transaction, the chief executive officer now directly owns 5,555 shares of the company’s stock, valued at $10,776,700. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,567 shares of company stock worth $2,790,353. 0.24% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PCLN. Harvest Fund Management Co. Ltd bought a new position in shares of The Priceline Group during the 2nd quarter valued at about $101,000. Horan Capital Advisors LLC. bought a new stake in The Priceline Group in the 3rd quarter valued at approximately $103,000. Shine Investment Advisory Services Inc. bought a new stake in shares of The Priceline Group during the 2nd quarter worth approximately $105,000. Capital Advisors Ltd. LLC bought a new stake in shares of The Priceline Group during the 2nd quarter worth approximately $112,000. Finally, Mountain Capital Investment Advisors Inc bought a new stake in shares of The Priceline Group during the 2nd quarter worth approximately $133,000. 94.68% of the stock is owned by institutional investors.

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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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