1st Global Advisors Inc. lowered its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 4.7% during the first quarter, Holdings Channel reports. The fund owned 325 shares of the business services provider’s stock after selling 16 shares during the period. 1st Global Advisors Inc.’s holdings in The Priceline Group were worth $578,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of PCLN. National Planning Corp increased its position in The Priceline Group by 10.9% in the fourth quarter. National Planning Corp now owns 244 shares of the business services provider’s stock valued at $384,000 after buying an additional 24 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in The Priceline Group by 5.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,206 shares of the business services provider’s stock valued at $4,700,000 after buying an additional 174 shares during the last quarter. Elgethun Capital Management acquired a new position in The Priceline Group during the fourth quarter valued at approximately $220,000. Syntal Capital Partners LLC acquired a new position in The Priceline Group during the fourth quarter valued at approximately $326,000. Finally, Artisan Partners Limited Partnership increased its position in The Priceline Group by 34.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 145,017 shares of the business services provider’s stock valued at $212,604,000 after buying an additional 37,244 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Priceline Group Inc. (PCLN) opened at 1802.61 on Friday. The firm has a market cap of $88.58 billion, a price-to-earnings ratio of 40.69 and a beta of 1.41. The company has a 50 day moving average of $1,853.15 and a 200-day moving average of $1,693.08. The Priceline Group Inc. has a one year low of $1,148.06 and a one year high of $1,927.13.
The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings data on Tuesday, May 9th. The business services provider reported $9.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.83 by $1.05. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.45 billion. The Priceline Group had a net margin of 20.12% and a return on equity of 33.94%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.54 EPS. On average, analysts expect that The Priceline Group Inc. will post $73.68 EPS for the current year.
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Several equities analysts have commented on PCLN shares. Cantor Fitzgerald reissued an “overweight” rating and set a $1,750.00 target price on shares of The Priceline Group in a research report on Friday, February 24th. Evercore ISI reissued a “buy” rating and set a $1,850.00 target price on shares of The Priceline Group in a research report on Monday, February 27th. Barclays PLC set a $1,900.00 target price on shares of The Priceline Group and gave the stock an “overweight” rating in a research report on Tuesday, February 28th. Credit Suisse Group set a $1,935.00 price target on The Priceline Group and gave the company a “buy” rating in a research report on Tuesday, February 28th. Finally, Morgan Stanley raised their price target on The Priceline Group from $1,750.00 to $1,800.00 and gave the company an “overweight” rating in a research report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,928.36.
In related news, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $1,743.00, for a total value of $212,646.00. Following the completion of the transaction, the chief executive officer now owns 6,289 shares of the company’s stock, valued at approximately $10,961,727. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jan L. Docter sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the completion of the transaction, the director now directly owns 346 shares of the company’s stock, valued at approximately $642,753.82. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.
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.
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