Pointe Capital Management LLC cut its position in Priceline Group Inc (NASDAQ:PCLN) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 286 shares of the business services provider’s stock after selling 46 shares during the period. Pointe Capital Management LLC’s holdings in Priceline Group were worth $497,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new position in Priceline Group in the third quarter valued at about $36,616,000. Norinchukin Bank The boosted its position in Priceline Group by 4.0% in the second quarter. Norinchukin Bank The now owns 5,942 shares of the business services provider’s stock valued at $11,115,000 after buying an additional 228 shares in the last quarter. Equitec Proprietary Markets LLC acquired a new position in Priceline Group in the third quarter valued at about $549,000. Troy Asset Management Ltd acquired a new position in shares of Priceline Group during the third quarter worth approximately $3,295,000. Finally, Profund Advisors LLC lifted its position in shares of Priceline Group by 9.8% during the second quarter. Profund Advisors LLC now owns 4,431 shares of the business services provider’s stock worth $8,288,000 after purchasing an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 94.39% of the company’s stock.
In other Priceline Group news, CEO Gillian Tans sold 123 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $1,715.78, for a total value of $211,040.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jan L. Docter sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $1,764.52, for a total transaction of $2,117,424.00. Following the completion of the sale, the director now directly owns 142 shares of the company’s stock, valued at approximately $250,561.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,567 shares of company stock valued at $2,781,444. 0.24% of the stock is currently owned by insiders.
Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $34.31 by $0.91. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.34 billion. Priceline Group had a net margin of 29.20% and a return on equity of 33.02%. Priceline Group’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $29.69 earnings per share. analysts predict that Priceline Group Inc will post 74.41 EPS for the current year.
A number of brokerages have recently issued reports on PCLN. KeyCorp reiterated a “hold” rating on shares of Priceline Group in a research report on Thursday, November 16th. Morgan Stanley reiterated an “overweight” rating and set a $2,100.00 target price (up from $2,050.00) on shares of Priceline Group in a research report on Monday, October 2nd. BidaskClub lowered shares of Priceline Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. SunTrust Banks upped their target price on shares of Priceline Group to $2,200.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada upped their target price on shares of Priceline Group from $2,050.00 to $2,100.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Priceline Group presently has an average rating of “Buy” and a consensus target price of $2,010.80.
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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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