Hedeker Wealth LLC Acquires 427 Shares of The Priceline Group Inc. (PCLN)
Hedeker Wealth LLC raised its position in The Priceline Group Inc. (NASDAQ:PCLN) by 85.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 927 shares of the company’s stock after buying an additional 427 shares during the period. Hedeker Wealth LLC’s holdings in The Priceline Group were worth $1,157,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in PCLN. Concert Wealth Management Inc. raised its stake in shares of The Priceline Group by 9.1% in the second quarter. Concert Wealth Management Inc. now owns 1,493 shares of the company’s stock worth $1,837,000 after buying an additional 124 shares during the last quarter. Parsec Financial Management Inc. increased its position in The Priceline Group by 2.7% in the second quarter. Parsec Financial Management Inc. now owns 4,387 shares of the company’s stock worth $5,477,000 after buying an additional 115 shares during the period. Valiant Capital Management L.P. increased its position in The Priceline Group by 39.0% in the second quarter. Valiant Capital Management L.P. now owns 54,542 shares of the company’s stock worth $68,091,000 after buying an additional 15,300 shares during the period. Quadrant Capital Group LLC increased 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 during the period. Finally, LMR Partners LLP purchased a new position in The Priceline Group during the second quarter worth about $374,000. 93.99% of the stock is owned by institutional investors.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded down 0.20% during mid-day trading on Friday, reaching $1439.57. The company had a trading volume of 328,938 shares. The Priceline Group Inc. has a 52 week low of $954.02 and a 52 week high of $1,501.79. The company has a market capitalization of $71.15 billion, a price-to-earnings ratio of 27.38 and a beta of 1.62. The stock has a 50 day moving average of $1,449.62 and a 200-day moving average of $1,352.80.
The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings data on Thursday, August 4th. The company reported $13.93 earnings per share for the quarter, beating analysts’ consensus estimates of $12.69 by $1.24. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.58 billion. The Priceline Group had a return on equity of 32.93% and a net margin of 27.08%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $12.45 earnings per share. On average, analysts expect that The Priceline Group Inc. will post $68.57 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on PCLN shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $1,510.00 price objective (down previously from $1,525.00) on shares of The Priceline Group in a report on Tuesday, July 5th. Tigress Financial reiterated a “buy” rating on shares of The Priceline Group in a report on Thursday, June 30th. 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. Vetr downgraded The Priceline Group from a “strong-buy” rating to a “buy” rating and set a $1,362.34 price objective for the company. in a report on Wednesday, June 29th. Finally, Jefferies Group reiterated a “buy” rating and issued a $1,660.00 price objective on shares of The Priceline Group in a report on Monday, June 27th. Six analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The Priceline Group has an average rating of “Buy” and a consensus price target of $1,538.19.
In other news, CEO Jeffery H. Boyd sold 3,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $1,353.90, for a total value of $4,061,700.00. Following the sale, the chief executive officer now owns 94,488 shares in the company, valued at $127,927,303.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Glenn D. Fogel sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $1,497.95, for a total value of $1,497,950.00. Following the completion of the sale, the insider now owns 24,991 shares in the company, valued at approximately $37,435,268.45. The disclosure for this sale can be found here. 0.42% of the stock is owned by 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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