Meridian Wealth Management LLC reduced its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 70.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 479 shares of the business services provider’s stock after selling 1,154 shares during the period. Meridian Wealth Management LLC’s holdings in The Priceline Group were worth $896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Advisors Inc. OK increased its position in The Priceline Group by 4.1% in the first quarter. Capital Advisors Inc. OK now owns 6,556 shares of the business services provider’s stock worth $11,669,000 after buying an additional 256 shares during the period. Pinnacle Bank bought a new position in The Priceline Group during the first quarter worth $178,000. Mackenzie Financial Corp bought a new position in The Priceline Group during the first quarter worth $34,546,000. Carderock Capital Management Inc. increased its position in The Priceline Group by 163.3% in the first quarter. Carderock Capital Management Inc. now owns 1,659 shares of the business services provider’s stock worth $2,952,000 after buying an additional 1,029 shares during the period. Finally, Atria Investments LLC increased its position in The Priceline Group by 1.2% in the first quarter. Atria Investments LLC now owns 1,209 shares of the business services provider’s stock worth $2,152,000 after buying an additional 14 shares during the period. 95.01% of the stock is currently owned by institutional investors.

Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded up 0.41% during trading on Friday, hitting $1857.13. The stock had a trading volume of 396,085 shares. The Priceline Group Inc. has a 1-year low of $1,392.44 and a 1-year high of $2,067.99. The company has a market capitalization of $91.11 billion, a P/E ratio of 39.44 and a beta of 1.42. The firm has a 50-day moving average of $1,951.16 and a 200 day moving average of $1,807.68. The Priceline Group also was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 15,301 put options on the company. This is an increase of 209% compared to the average daily volume of 4,950 put options.

The Priceline Group (NASDAQ:PCLN) last released its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $14.25 by $0.89. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the firm earned $13.93 EPS. The company’s revenue was up 18.3% compared to the same quarter last year. Equities research analysts predict that The Priceline Group Inc. will post $74.80 earnings per share for the current fiscal year.

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A number of research analysts have recently weighed in on PCLN shares. Benchmark Co. reissued a “buy” rating and issued a $2,050.00 price target (up previously from $1,900.00) on shares of The Priceline Group in a research note on Sunday, May 14th. Deutsche Bank AG increased their price target on The Priceline Group from $1,725.00 to $2,000.00 and gave the company a “hold” rating in a research note on Monday, May 8th. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $2,070.00 price target (up previously from $1,915.00) on shares of The Priceline Group in a research note on Monday, May 8th. Macquarie set a $1,970.00 price target on The Priceline Group and gave the company a “buy” rating in a research note on Tuesday, April 18th. Finally, Goldman Sachs Group, Inc. (The) increased their price target on The Priceline Group from $1,750.00 to $1,850.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. The Priceline Group has an average rating of “Buy” and a consensus target price of $1,909.30.

In other news, Director Jan L. Docter sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the completion of the transaction, the director now directly owns 346 shares of the company’s stock, valued at approximately $642,753.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the transaction, the chief executive officer now directly owns 5,922 shares of the company’s stock, valued at $11,544,761.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,744 shares of company stock valued at $3,245,648 over the last three months. Insiders own 0.42% of the company’s stock.

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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Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

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