Investec Asset Management North America Inc. lowered its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,434 shares of the business services provider’s stock after selling 430 shares during the period. The Priceline Group makes up approximately 2.2% of Investec Asset Management North America Inc.’s holdings, making the stock its 17th largest holding. Investec Asset Management North America Inc.’s holdings in The Priceline Group were worth $12,035,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in The Priceline Group during the 2nd quarter valued at about $101,000. Shine Investment Advisory Services Inc. purchased a new position in The Priceline Group during the 2nd quarter valued at about $105,000. Assetmark Inc. increased its holdings in The Priceline Group by 12.5% during the 1st quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 7 shares during the period. Capital Advisors Ltd. LLC purchased a new position in The Priceline Group during the 2nd quarter valued at about $112,000. Finally, Proficio Capital Partners LLC increased its holdings in The Priceline Group by 29.6% during the 1st quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.
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PCLN has been the topic of a number of research analyst reports. UBS AG restated an “overweight” rating on shares of The Priceline Group in a report on Thursday, August 24th. SunTrust Banks, Inc. initiated coverage on The Priceline Group in a report on Tuesday, August 15th. They set a “buy” rating and a $2,200.00 price target on the stock. Credit Suisse Group set a $2,150.00 price target on The Priceline Group and gave the company a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded The Priceline Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub upgraded The Priceline Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,924.32.
In other The Priceline Group news, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total value of $237,835.34. Following the completion of the sale, the chief executive officer now directly owns 5,922 shares in the company, valued at $11,544,761.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jan L. Docter sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total transaction of $4,689,750.00. Following the completion of the sale, the director now owns 320 shares of the company’s stock, valued at $600,288. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,745 shares of company stock valued at $5,158,872. 0.42% of the stock is owned by insiders.
Shares of The Priceline Group Inc. (NASDAQ PCLN) traded down 0.11% during trading on Tuesday, reaching $1852.08. 29,467 shares of the company were exchanged. The company’s 50-day moving average is $1,877.89 and its 200 day moving average is $1,850.52. The Priceline Group Inc. has a 1-year low of $1,422.19 and a 1-year high of $2,067.99. The firm has a market capitalization of $90.86 billion, a PE ratio of 39.34 and a beta of 1.47.
The Priceline Group (NASDAQ:PCLN) last announced its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $14.25 by $0.89. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The Priceline Group’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the firm earned $13.93 earnings per share. Equities research analysts expect that The Priceline Group Inc. will post $74.70 EPS for the current fiscal year.
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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