Schwab Charles Investment Management Inc. increased its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,329 shares of the business services provider’s stock after buying an additional 6,718 shares during the period. Schwab Charles Investment Management Inc. owned about 0.30% of The Priceline Group worth $264,022,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PCLN. Hartford Financial Management Inc. bought a new position in shares of The Priceline Group during the first quarter valued at about $106,000. Webster Bank N. A. raised its position in shares of 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 during the period. Assetmark Inc. raised its position in shares of 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 during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of The Priceline Group during the fourth quarter valued at about $118,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of The Priceline Group during the first quarter valued at about $123,000. Institutional investors own 95.20% of the company’s stock.
The Priceline Group Inc. (NASDAQ:PCLN) opened at 1992.10 on Thursday. The firm’s 50 day moving average is $1,884.35 and its 200-day moving average is $1,757.94. The company has a market cap of $97.90 billion, a P/E ratio of 44.97 and a beta of 1.41. The Priceline Group Inc. has a 52 week low of $1,305.09 and a 52 week high of $1,999.00.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Tuesday, May 9th. The business services provider reported $9.88 EPS for the quarter, beating the consensus estimate of $8.83 by $1.05. The Priceline Group had a net margin of 20.12% and a return on equity of 33.94%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the previous year, the business posted $10.54 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, analysts predict that The Priceline Group Inc. will post $73.93 earnings per share for the current fiscal year.
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Several research analysts recently issued reports on PCLN shares. Needham & Company LLC reiterated a “buy” rating and issued a $2,200.00 target price on shares of The Priceline Group in a research report on Wednesday, May 10th. Macquarie set a $1,970.00 price target on shares of The Priceline Group and gave the company a “buy” rating in a research report on Tuesday, April 18th. Credit Suisse Group set a $1,935.00 price target on shares of The Priceline Group and gave the company a “buy” rating in a research report on Saturday, April 8th. UBS AG restated a “buy” rating and set a $2,100.00 price target (up from $1,870.00) on shares of The Priceline Group in a research report on Thursday, May 11th. Finally, Benchmark Co. restated a “buy” rating and set a $2,050.00 price target (up from $1,900.00) on shares of The Priceline Group in a research report on Sunday, May 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $1,944.62.
In other news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $1,814.00, for a total value of $221,308.00. Following the completion of the sale, the chief executive officer now owns 6,044 shares in the company, valued at approximately $10,963,816. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jan L. Docter sold 1,500 shares of the business’s stock in a transaction dated 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 sale, the director now owns 346 shares of the company’s stock, valued at approximately $642,753.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,744 shares of company stock valued at $3,245,648. Company 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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