Tributary Capital Management LLC Has $711,000 Stake in The Priceline Group Inc. (PCLN)
Tributary Capital Management LLC lowered its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380 shares of the business services provider’s stock after selling 10 shares during the period. Tributary Capital Management LLC’s holdings in The Priceline Group were worth $711,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Union Bankshares Corp acquired a new stake in The Priceline Group during the first quarter valued at about $201,000. Addenda Capital Inc. raised its stake in The Priceline Group by 6.4% in the first quarter. Addenda Capital Inc. now owns 4,275 shares of the business services provider’s stock valued at $7,610,000 after buying an additional 258 shares in the last quarter. Vontobel Asset Management Inc. raised its stake in The Priceline Group by 3.6% in the first quarter. Vontobel Asset Management Inc. now owns 198,395 shares of the business services provider’s stock valued at $358,255,000 after buying an additional 6,920 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in The Priceline Group during the first quarter valued at about $208,000. Finally, Quadrant Capital Group LLC raised its stake in The Priceline Group by 8.0% in the first quarter. Quadrant Capital Group LLC now owns 135 shares of the business services provider’s stock valued at $226,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 95.01% of the company’s stock.
Shares of The Priceline Group Inc. (NASDAQ PCLN) traded down 7.32% during midday trading on Wednesday, hitting $1899.00. The company’s stock had a trading volume of 1,454,368 shares. The stock’s 50 day moving average is $1,937.58 and its 200-day moving average is $1,795.67. The firm has a market cap of $93.32 billion, a P/E ratio of 42.87 and a beta of 1.42. The Priceline Group Inc. has a 52-week low of $1,392.44 and a 52-week high of $2,043.95. The Priceline Group also was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 15,301 put options on the company. This represents an increase of 209% compared to the average daily volume of 4,950 put options.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating analysts’ consensus estimates of $14.25 by $0.89. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.99 billion. The Priceline Group had a net margin of 20.12% and a return on equity of 33.94%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $13.93 EPS. Equities analysts predict that The Priceline Group Inc. will post $74.20 EPS for the current fiscal year.
Several analysts have issued reports on PCLN shares. Morgan Stanley upped their price objective on The Priceline Group from $1,950.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Cowen and Company restated an “outperform” rating and issued a $2,000.00 price objective on shares of The Priceline Group in a research note on Tuesday, May 23rd. Vetr upgraded The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 price objective on the stock in a research note on Wednesday, May 17th. J P Morgan Chase & Co upped their price objective on The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a research note on Wednesday, May 10th. Finally, Benchmark Co. restated a “buy” rating and issued a $2,050.00 price objective (up previously from $1,900.00) on shares of The Priceline Group in a research note on Sunday, May 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. The Priceline Group has an average rating of “Buy” and an average target price of $1,905.97.
In related news, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the transaction, the director now directly owns 346 shares in the company, valued at $642,753.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $1,814.00, for a total transaction of $221,308.00. Following the completion of the transaction, the chief executive officer now owns 6,044 shares of the company’s stock, valued at $10,963,816. The disclosure for this sale can be found here. Insiders sold 1,744 shares of company stock valued at $3,245,648 over the last quarter. 0.42% of the stock is owned by company insiders.
The Priceline Group Company Profile
The Priceline Group Inc is a provider of travel and restaurant online 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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