Amalgamated Bank Sells 1,611 Shares of The Priceline Group Inc. (PCLN)

Amalgamated Bank lowered its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 30.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,751 shares of the business services provider’s stock after selling 1,611 shares during the period. Amalgamated Bank’s holdings in The Priceline Group were worth $6,677,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hartford Financial Management Inc. acquired a new position in The Priceline Group during the first quarter valued at $106,000. Webster Bank N. A. boosted its position in The Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock valued at $110,000 after buying an additional 12 shares in the last quarter. Assetmark Inc. boosted its position in The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after buying an additional 7 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in The Priceline Group during the fourth quarter valued at $118,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in The Priceline Group during the first quarter valued at $123,000. Institutional investors and hedge funds own 95.20% of the company’s stock.

Shares of The Priceline Group Inc. (NASDAQ PCLN) opened at 1976.24 on Wednesday. The firm has a 50-day moving average price of $1,880.50 and a 200 day moving average price of $1,756.21. The stock has a market cap of $97.12 billion, a PE ratio of 44.61 and a beta of 1.41. The Priceline Group Inc. has a 12-month low of $1,305.09 and a 12-month high of $1,989.04.

The Priceline Group (NASDAQ:PCLN) last released its earnings results on Tuesday, May 9th. The business services provider reported $9.88 EPS for the quarter, beating analysts’ consensus estimates of $8.83 by $1.05. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.45 billion. The Priceline Group had a return on equity of 33.94% and a net margin of 20.12%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.54 earnings per share. Equities research analysts expect that The Priceline Group Inc. will post $73.93 earnings per share for the current year.

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Several research firms have weighed in on PCLN. Morgan Stanley boosted their price objective on The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Tuesday. Zacks Investment Research cut The Priceline Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub raised The Priceline Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Needham & Company LLC reissued a “buy” rating on shares of The Priceline Group in a research report on Wednesday, June 21st. Finally, Cowen and Company reissued an “outperform” rating and issued a $2,000.00 price objective on shares of The Priceline Group in a research report on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,944.62.

In related news, Director Jan L. Docter sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the sale, the director now owns 346 shares in the company, valued at $642,753.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gillian Tans sold 122 shares of the business’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 owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,744 shares of company stock worth $3,245,648. Insiders own 0.42% of the company’s stock.

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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