Concert Wealth Management Inc. Has $1,837,000 Stake in The Priceline Group Inc. (PCLN)
Concert Wealth Management Inc. raised its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 9.1% during the second quarter, Holdings Channel reports. The institutional investor owned 1,493 shares of the company’s stock after buying an additional 124 shares during the period. Concert Wealth Management Inc.’s holdings in The Priceline Group were worth $1,837,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCLN. BlueMountain Capital Management LLC boosted its position in The Priceline Group by 65.3% in the first quarter. BlueMountain Capital Management LLC now owns 81 shares of the company’s stock worth $104,000 after buying an additional 32 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in The Priceline Group by 18.1% in the second quarter. Integrated Investment Consultants LLC now owns 98 shares of the company’s stock worth $122,000 after buying an additional 15 shares in the last quarter. Quadrant Capital Group LLC boosted its position in The Priceline Group by 24.3% in the second quarter. Quadrant Capital Group LLC now owns 128 shares of the company’s stock worth $151,000 after buying an additional 25 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in The Priceline Group by 17.1% in the second quarter. Cornerstone Advisors Inc. now owns 137 shares of the company’s stock worth $171,000 after buying an additional 20 shares in the last quarter. Finally, Bath Savings Trust Co acquired a new position in The Priceline Group during the second quarter worth approximately $210,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded down 0.36% during midday trading on Friday, hitting $1485.08. 265,646 shares of the stock traded hands. The stock has a market cap of $73.40 billion, a price-to-earnings ratio of 28.25 and a beta of 1.62. The firm has a 50-day moving average price of $1,444.49 and a 200 day moving average price of $1,347.94. The Priceline Group Inc. has a one year low of $954.02 and a one year high of $1,501.79.
The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings data on Thursday, August 4th. The company reported $13.93 EPS for the quarter, topping analysts’ consensus estimates of $12.69 by $1.24. The Priceline Group had a net margin of 27.08% and a return on equity of 32.93%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the business posted $12.45 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. Analysts anticipate that The Priceline Group Inc. will post $68.57 earnings per share for the current year.
A number of research analysts recently commented on the company. Piper Jaffray Cos. reiterated a “buy” rating and issued a $1,500.00 price objective on shares of The Priceline Group in a report on Tuesday, June 21st. Jefferies Group restated a “buy” rating and set a $1,700.00 price target on shares of The Priceline Group in a research note on Tuesday, August 23rd. Deutsche Bank AG upped their price target on The Priceline Group from $1,330.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Vetr cut The Priceline Group from a “hold” rating to a “sell” rating and set a $1,301.85 price target on the stock. in a research note on Tuesday, June 21st. Finally, Zacks Investment Research cut The Priceline Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The Priceline Group currently has an average rating of “Buy” and a consensus price target of $1,538.19.
In other The Priceline Group news, CEO Jeffery H. Boyd sold 3,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $1,353.90, for a total value of $4,061,700.00. Following the transaction, the chief executive officer now owns 94,488 shares in the company, valued at approximately $127,927,303.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffery H. Boyd sold 2,814 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $1,467.98, for a total transaction of $4,130,895.72. Following the completion of the transaction, the chief executive officer now owns 88,939 shares in the company, valued at approximately $130,560,673.22. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.
About The Priceline Group
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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