Mitchell Capital Management Co. Cuts Stake in The Priceline Group Inc. (PCLN)
Mitchell Capital Management Co. cut its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 30.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,729 shares of the company’s stock after selling 2,946 shares during the period. The Priceline Group comprises about 3.4% of Mitchell Capital Management Co.’s holdings, making the stock its 12th largest position. Mitchell Capital Management Co.’s holdings in The Priceline Group were worth $8,401,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its stake in The Priceline Group by 19.7% in the first quarter. Envestnet Asset Management Inc. now owns 25,164 shares of the company’s stock valued at $32,435,000 after buying an additional 4,141 shares during the last quarter. Hillman Co. increased its stake in The Priceline Group by 29.2% in the second quarter. Hillman Co. now owns 22,929 shares of the company’s stock valued at $28,625,000 after buying an additional 5,186 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in The Priceline Group during the first quarter valued at $251,864,000. Adage Capital Partners GP L.L.C. increased its stake in The Priceline Group by 74.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 74,100 shares of the company’s stock valued at $95,512,000 after buying an additional 31,600 shares during the last quarter. Finally, Artemis Investment Management LLP increased its stake in The Priceline Group by 76.1% in the second quarter. Artemis Investment Management LLP now owns 14,116 shares of the company’s stock valued at $17,630,000 after buying an additional 6,100 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded down 0.13% on Monday, hitting $1437.65. The stock had a trading volume of 263,753 shares. The Priceline Group Inc. has a 12 month low of $954.02 and a 12 month high of $1,501.79. The firm has a 50 day moving average of $1,450.31 and a 200 day moving average of $1,353.88. The stock has a market cap of $71.06 billion, a P/E ratio of 27.34 and a beta of 1.62.
The Priceline Group (NASDAQ:PCLN) last released 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. The Priceline Group had a return on equity of 32.93% and a net margin of 27.08%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.45 earnings per share. On average, equities analysts forecast that The Priceline Group Inc. will post $68.57 earnings per share for the current fiscal year.
A number of equities analysts have commented on the stock. Deutsche Bank AG reiterated a “hold” rating on shares of The Priceline Group in a report on Sunday, July 10th. Tigress Financial reiterated a “buy” rating on shares of The Priceline Group in a report on Thursday, June 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $1,600.00 target price on shares of The Priceline Group in a report on Tuesday, June 28th. Jefferies Group reiterated a “buy” rating and issued a $1,660.00 target price on shares of The Priceline Group in a report on Monday, June 27th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of The Priceline Group in a report on Friday, August 5th. Six equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $1,538.19.
In other news, insider Glenn D. Fogel sold 1,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 24,991 shares of the company’s stock, valued at $37,435,268.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffery H. Boyd sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 94,488 shares in the company, valued at approximately $127,927,303.20. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
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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