Traders Sell Shares of The Priceline Group Inc. (PCLN) on Strength (PCLN)
Traders sold shares of The Priceline Group Inc. (NASDAQ:PCLN) on strength during trading hours on Thursday. $102.48 million flowed into the stock on the tick-up and $120.92 million flowed out of the stock on the tick-down, for a money net flow of $18.44 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 $1.86 for the day and closed at $1,418.59
Several research firms have commented on PCLN. Evercore ISI raised The Priceline Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $1,360.00 to $1,650.00 in a research report on Thursday, August 18th. Jefferies Group reissued a “buy” rating and issued a $1,700.00 target price on shares of The Priceline Group in a report on Tuesday, August 23rd. Cantor Fitzgerald reissued a “buy” rating on shares of The Priceline Group in a report on Sunday, August 28th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $1,400.00 target price (up previously from $1,250.00) on shares of The Priceline Group in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of The Priceline Group in a report on Friday, August 5th. Five research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The Priceline Group currently has an average rating of “Buy” and a consensus target price of $1,517.95.
The stock has a market capitalization of $70.12 billion and a P/E ratio of 26.98. The company has a 50 day moving average of $1,382.35 and a 200 day moving average of $1,319.01.
The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Thursday, August 4th. The company reported $13.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.69 by $1.24. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.58 billion. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $12.45 earnings per share. Equities research analysts anticipate that The Priceline Group Inc. will post $68.78 EPS for the current fiscal year.
In other news, CEO Gillian Tans sold 131 shares of The Priceline Group stock in a transaction 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 transaction, the chief executive officer now directly owns 6,049 shares in the company, valued at approximately $8,032,406.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffery H. Boyd sold 3,000 shares of The Priceline Group stock in a transaction on Friday, July 1st. The shares were sold at an average price of $1,266.92, for a total value of $3,800,760.00. Following the transaction, the chief executive officer now owns 98,039 shares in the company, valued at $124,207,569.88. The disclosure for this sale can be found here.
An institutional investor recently raised its position in The Priceline Group stock. Schwab Charles Investment Management Inc. boosted its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 quarter.
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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