Traders Buy Shares of Priceline Group Inc (PCLN) on Weakness After Insider Selling

Investors purchased shares of Priceline Group Inc (NASDAQ:PCLN) on weakness during trading on Thursday after an insider sold shares in the company. $177.88 million flowed into the stock on the tick-up and $153.02 million flowed out of the stock on the tick-down, for a money net flow of $24.86 million into the stock. Of all equities tracked, Priceline Group had the 4th highest net in-flow for the day. Priceline Group traded down ($2.40) for the day and closed at $1,760.80Specifically, CFO Daniel J. Finnegan sold 3,052 shares of Priceline Group stock in a transaction on Monday, March 6th. The shares were sold at an average price of $1,730.38, for a total transaction of $5,281,119.76. Following the transaction, the chief financial officer now owns 20,779 shares in the company, valued at approximately $35,955,566.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gillian Tans sold 122 shares of Priceline Group stock in a transaction on Monday, April 17th. The shares were sold at an average price of $1,743.00, for a total transaction of $212,646.00. Following the transaction, the chief executive officer now owns 6,289 shares in the company, valued at approximately $10,961,727. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

Several research firms have recently weighed in on PCLN. Zacks Investment Research downgraded shares of Priceline Group from a “hold” rating to a “sell” rating in a research report on Tuesday, February 7th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $2,000.00 target price (up previously from $1,860.00) on shares of Priceline Group in a research report on Thursday, April 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,850.00 target price on shares of Priceline Group in a research report on Monday, April 17th. Macquarie set a $1,970.00 price objective on shares of Priceline Group and gave the company a “buy” rating in a research report on Tuesday, April 18th. Finally, MKM Partners reaffirmed a “buy” rating and set a $1,950.00 price objective on shares of Priceline Group in a research report on Monday, January 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,928.36.

The stock has a 50 day moving average price of $1,808.86 and a 200 day moving average price of $1,645.10. The stock has a market capitalization of $88.86 billion, a price-to-earnings ratio of 40.82 and a beta of 1.62.

Priceline Group (NASDAQ:PCLN) last issued its earnings results on Tuesday, May 9th. The business services provider reported $9.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.83 by $1.05. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.45 billion. Priceline Group had a return on equity of 34.70% and a net margin of 18.91%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.54 earnings per share. On average, equities analysts expect that Priceline Group Inc will post $73.62 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of PCLN. BKD Wealth Advisors LLC increased its position in shares of Priceline Group by 1.3% in the first quarter. BKD Wealth Advisors LLC now owns 151 shares of the business services provider’s stock valued at $269,000 after buying an additional 2 shares during the last quarter. Wrapmanager Inc. increased its position in shares of Priceline Group by 1.1% in the first quarter. Wrapmanager Inc. now owns 268 shares of the business services provider’s stock valued at $477,000 after buying an additional 3 shares during the last quarter. Cadence Bank NA increased its position in shares of Priceline Group by 2.7% in the fourth quarter. Cadence Bank NA now owns 154 shares of the business services provider’s stock valued at $226,000 after buying an additional 4 shares during the last quarter. Puplava Financial Services Inc. increased its position in shares of Priceline Group by 2.7% in the first quarter. Puplava Financial Services Inc. now owns 192 shares of the business services provider’s stock valued at $342,000 after buying an additional 5 shares during the last quarter. Finally, CAPROCK Group Inc. increased its position in shares of Priceline Group by 2.5% in the first quarter. CAPROCK Group Inc. now owns 207 shares of the business services provider’s stock valued at $368,000 after buying an additional 5 shares during the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

WARNING: This report was reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this report on another publication, it was illegally copied and republished in violation of international trademark & copyright laws. The original version of this report can be viewed at https://transcriptdaily.com/2017/05/20/investors-buy-priceline-group-inc-pcln-on-weakness-following-insider-selling-updated-updated-updated.html.

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.

12 Month Chart for NASDAQ:PCLN

Receive News & Ratings for Priceline Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Priceline Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply