King Luther Capital Management Corp trimmed its position in The Priceline Group Inc. (NASDAQ:PCLN) by 29.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 510 shares of the business services provider’s stock after selling 208 shares during the quarter. King Luther Capital Management Corp’s holdings in The Priceline Group were worth $954,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in PCLN. Harbour Capital Advisors LLC lifted its holdings in shares of The Priceline Group by 210,283.2% in the second quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock worth $523,000 after buying an additional 977,817 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of The Priceline Group in the first quarter worth about $358,128,000. Vanguard Group Inc. lifted its holdings in shares of The Priceline Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 3,204,680 shares of the business services provider’s stock worth $5,704,234,000 after buying an additional 93,992 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of The Priceline Group by 689.5% in the first quarter. Schroder Investment Management Group now owns 85,556 shares of the business services provider’s stock worth $153,077,000 after buying an additional 74,719 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of The Priceline Group by 3.8% in the first quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock worth $3,275,411,000 after buying an additional 67,569 shares in the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.
The Priceline Group Inc. (NASDAQ PCLN) opened at 1859.78 on Wednesday. The Priceline Group Inc. has a one year low of $1,422.19 and a one year high of $2,067.99. The stock has a 50 day moving average of $1,873.07 and a 200 day moving average of $1,851.42. The company has a market cap of $91.24 billion, a PE ratio of 39.50 and a beta of 1.47.
The Priceline Group (NASDAQ:PCLN) last released its quarterly 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 Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the firm posted $13.93 EPS. The Priceline Group’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts anticipate that The Priceline Group Inc. will post $74.70 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on PCLN shares. BidaskClub raised shares of The Priceline Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Morgan Stanley increased their price target on shares of The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Zacks Investment Research downgraded shares of The Priceline Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Credit Suisse Group set a $2,150.00 price target on shares of The Priceline Group and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $2,000.00 target price on shares of The Priceline Group in a research note on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $1,924.32.
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In related news, Director Jan L. Docter sold 2,500 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total transaction of $4,689,750.00. Following the sale, the director now owns 320 shares in the company, valued at approximately $600,288. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gillian Tans sold 123 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $1,880.38, for a total value of $231,286.74. Following the sale, the chief executive officer now owns 5,799 shares in the company, valued at approximately $10,904,323.62. The disclosure for this sale can be found here. Insiders have sold a total of 2,867 shares of company stock worth $5,384,080 in the last 90 days. 0.42% of the stock is currently owned by insiders.
The Priceline Group 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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