Traders Sell The Priceline Group Inc. (PCLN) on Strength (PCLN)
Traders sold shares of The Priceline Group Inc. (NASDAQ:PCLN) on strength during trading hours on Friday. $237.66 million flowed into the stock on the tick-up and $292.36 million flowed out of the stock on the tick-down, for a money net flow of $54.70 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 $32.20 for the day and closed at $1,329.46
PCLN has been the subject of a number of recent research reports. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of The Priceline Group in a research note on Tuesday, March 22nd. Pacific Crest initiated coverage on The Priceline Group in a research note on Thursday, March 31st. They issued a “sector weight” rating for the company. Vetr raised The Priceline Group from a “hold” rating to a “buy” rating and set a $1,351.04 target price for the company in a research note on Monday, April 4th. KeyCorp initiated coverage on The Priceline Group in a research note on Monday, April 4th. They issued a “sector perform” rating for the company. Finally, Zacks Investment Research downgraded The Priceline Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,454.66.
The stock’s 50-day moving average is $1,293.45 and its 200 day moving average is $1,251.98. The company has a market capitalization of $65.99 billion and a price-to-earnings ratio of 26.17.
The Priceline Group (NASDAQ:PCLN) last released its earnings results on Wednesday, May 4th. The company reported $10.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $9.66 by $0.88. The business earned $2.15 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the company posted $8.12 earnings per share. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities analysts expect that The Priceline Group Inc. will post $67.04 earnings per share for the current fiscal year.
In related news, CEO Gillian Tans sold 161 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $1,349.00, for a total value of $217,189.00. Following the completion of the transaction, the chief executive officer now directly owns 2,496 shares in the company, valued at $3,367,104. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffery H. Boyd sold 166 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $1,261.54, for a total value of $209,415.64. Following the completion of the transaction, the chief executive officer now owns 94,826 shares of the company’s stock, valued at $119,626,792.04. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in the stock. Andra AP fonden raised its position in The Priceline Group by 83.3% in the fourth quarter. Andra AP fonden now owns 2,200 shares of the company’s stock valued at $2,805,000 after buying an additional 1,000 shares during the last quarter. Deere & Co. raised its stake in shares of The Priceline Group by 55.5% in the fourth quarter. Deere & Co. now owns 3,525 shares of the company’s stock valued at $4,494,000 after buying an additional 1,258 shares in the last quarter. Wedbush Securities Inc. raised its stake in shares of The Priceline Group by 7.4% in the fourth quarter. Wedbush Securities Inc. now owns 918 shares of the company’s stock valued at $1,170,000 after buying an additional 63 shares in the last quarter. Bailard Inc. purchased a new stake in shares of The Priceline Group during the fourth quarter valued at approximately $1,128,000. Finally, Hendershot Investments Inc. raised its stake in shares of The Priceline Group by 5.7% in the fourth quarter. Hendershot Investments Inc. now owns 3,076 shares of the company’s stock valued at $3,922,000 after buying an additional 166 shares in the last 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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