Investors Sell The Priceline Group Inc. (PCLN) on Strength (PCLN)
Investors sold shares of The Priceline Group Inc. (NASDAQ:PCLN) on strength during trading on Friday. $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 stocks 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 equities analysts recently issued reports on the company. Cantor Fitzgerald restated a “buy” rating on shares of The Priceline Group in a research note on Sunday, May 22nd. Vetr upgraded The Priceline Group from a “hold” rating to a “buy” rating and set a $1,316.39 price objective on the stock in a research note on Tuesday, May 31st. Morgan Stanley upgraded The Priceline Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $1,330.00 to $1,525.00 in a research note on Thursday, June 30th. Deutsche Bank AG restated a “hold” rating on shares of The Priceline Group in a research note on Sunday, July 10th. Finally, Ascendiant Capital Markets restated a “buy” rating and set a $1,600.00 price objective (down from $1,625.00) on shares of The Priceline Group in a research note on Friday, May 6th. Five equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $1,517.95.
The company has a market capitalization of $70.33 billion and a price-to-earnings ratio of 27.06. The company has a 50 day moving average of $1,384.48 and a 200 day moving average of $1,319.75.
The Priceline Group (NASDAQ:PCLN) last announced 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 earned $2.55 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the firm earned $12.45 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that The Priceline Group Inc. will post $68.78 EPS for the current fiscal year.
In other news, CEO Jeffery H. Boyd sold 3,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 94,488 shares in the company, valued at approximately $127,927,303.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gillian Tans sold 131 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 6,049 shares in the company, valued at $8,032,406.61. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in The Priceline Group stock. Schwab Charles Investment Management Inc. raised its position in The Priceline Group Inc. (NASDAQ:PCLN) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 about 0.26% of The Priceline Group worth $163,401,000 as of its most recent filing with the SEC.
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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