Gladstone Capital Management LLP increased its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 74.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,600 shares of the business services provider’s stock after buying an additional 4,100 shares during the period. The Priceline Group makes up 15.9% of Gladstone Capital Management LLP’s investment portfolio, making the stock its 2nd largest position. Gladstone Capital Management LLP’s holdings in The Priceline Group were worth $17,694,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. acquired a new position in The Priceline Group during the first quarter valued at about $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 during 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 during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in The Priceline Group during the first quarter valued at about $123,000. Finally, Proficio Capital Partners LLC boosted its position in The Priceline Group by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.
Shares of The Priceline Group Inc. (PCLN) traded down 1.04% on Wednesday, hitting $2003.49. The stock had a trading volume of 115,961 shares. The firm’s 50-day moving average is $1,920.50 and its 200 day moving average is $1,790.59. The Priceline Group Inc. has a 1-year low of $1,336.03 and a 1-year high of $2,043.95. The stock has a market cap of $98.46 billion, a P/E ratio of 45.23 and a beta of 1.42.
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 firm had revenue of $2.42 billion during 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 revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.54 EPS. Equities analysts forecast that The Priceline Group Inc. will post $74.03 EPS for the current year.
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Several research analysts have issued reports on PCLN shares. Morgan Stanley increased 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, July 18th. Cowen and Company restated an “outperform” rating and issued a $2,000.00 price target on shares of The Priceline Group in a research report on Tuesday, May 23rd. Vetr upgraded The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 price target for the company in a research report on Wednesday, May 17th. J P Morgan Chase & Co raised their price target on The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a research report on Wednesday, May 10th. Finally, Benchmark Co. restated a “buy” rating and issued a $2,050.00 price target (up previously 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $1,890.83.
In other news, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total value of $237,835.34. Following the completion of the transaction, the chief executive officer now directly owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jan L. Docter sold 1,500 shares of the 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 transaction, the director now directly owns 346 shares of the company’s stock, valued at $642,753.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,744 shares of company stock valued at $3,245,648. Insiders own 0.42% of the company’s stock.
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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