Traders Sell The Priceline Group Inc. (PCLN) on Strength (PCLN)
Investors sold shares of The Priceline Group Inc. (NASDAQ:PCLN) on strength during trading hours on Friday. $142.97 million flowed into the stock on the tick-up and $174.46 million flowed out of the stock on the tick-down, for a money net flow of $31.49 million out of the stock. Of all companies tracked, The Priceline Group had the 0th highest net out-flow for the day. The Priceline Group traded up $4.24 for the day and closed at $1,419.79
Several research analysts have weighed in on the stock. Piper Jaffray Cos. restated a “buy” rating on shares of The Priceline Group in a research report on Thursday. Jefferies Group reiterated a “buy” rating and issued a $1,700.00 price target on shares of The Priceline Group in a research report on Tuesday. Evercore ISI upgraded shares of The Priceline Group from a “hold” rating to a “buy” rating and increased their price target for the company from $1,360.00 to $1,650.00 in a research report on Thursday, August 18th. Cantor Fitzgerald reiterated a “buy” rating on shares of The Priceline Group in a research report on Sunday, August 14th. Finally, Zacks Investment Research upgraded shares of The Priceline Group from a “hold” rating to a “buy” rating and set a $1,575.00 price target on the stock in a research report on Thursday, August 11th. Five research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The Priceline Group currently has an average rating of “Buy” and an average price target of $1,517.95.
The firm has a 50-day moving average of $1,373.67 and a 200 day moving average of $1,308.02. The company has a market capitalization of $70.17 billion and a P/E ratio of 27.00.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Thursday, August 4th. The company reported $13.93 EPS for the quarter, topping the consensus estimate of $12.69 by $1.24. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business posted $12.45 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts predict that The Priceline Group Inc. will post $68.78 earnings per share for the current year.
In related news, CEO Jeffery H. Boyd sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $1,266.92, for a total transaction of $3,800,760.00. Following the completion of the sale, the chief executive officer now directly owns 98,039 shares in the company, valued at $124,207,569.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gillian Tans sold 131 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $1,327.89, for a total transaction of $173,953.59. Following the sale, the chief executive officer now owns 6,049 shares of the company’s stock, valued at $8,032,406.61. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in The Priceline Group stock. Schwab Charles Investment Management Inc. increased its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 3.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,162 shares of the company’s stock after buying an additional 3,680 shares during the period. Schwab Charles Investment Management Inc. owned 0.26% of The Priceline Group worth $163,401,000 at the end of the most recent reporting period.
The Priceline Group Inc is a provider of travel and restaurant 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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