Investors Buy Shares of Priceline Group Inc (PCLN) on Weakness
Investors bought shares of Priceline Group Inc (NASDAQ:PCLN) on weakness during trading on Monday. $184.79 million flowed into the stock on the tick-up and $153.80 million flowed out of the stock on the tick-down, for a money net flow of $30.99 million into the stock. Of all companies tracked, Priceline Group had the 13th highest net in-flow for the day. Priceline Group traded down ($1.26) for the day and closed at $1,850.82
A number of equities research analysts have recently weighed in on the company. Barclays PLC reaffirmed an “overweight” rating on shares of Priceline Group in a report on Wednesday, August 9th. Wells Fargo & Company reaffirmed a “hold” rating and set a $1,850.00 price target on shares of Priceline Group in a report on Wednesday, August 9th. Royal Bank Of Canada raised their price objective on shares of Priceline Group from $2,000.00 to $2,050.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Deutsche Bank AG reiterated a “hold” rating and set a $2,075.00 price objective (up previously from $1,950.00) on shares of Priceline Group in a research note on Wednesday, August 9th. Finally, Macquarie raised their price objective on shares of Priceline Group from $2,000.00 to $2,200.00 and gave the company a “positive” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Priceline Group presently has an average rating of “Buy” and a consensus target price of $1,924.32.
The firm has a market capitalization of $90.80 billion, a price-to-earnings ratio of 39.31 and a beta of 1.47. The stock’s 50 day moving average is $1,921.27 and its 200-day moving average is $1,834.39.
Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $14.25 by $0.89. Priceline Group had a net margin of 23.81% and a return on equity of 25.79%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the firm earned $13.93 earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts forecast that Priceline Group Inc will post $74.77 earnings per share for the current year.
In related news, CEO Gillian Tans sold 122 shares of the stock in a transaction on Thursday, June 15th. The shares were 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 in the company, valued at $10,963,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jan L. Docter sold 2,500 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total transaction of $4,689,750.00. Following the transaction, the director now owns 320 shares of the company’s stock, valued at approximately $600,288. The disclosure for this sale can be found here. Insiders have sold 2,867 shares of company stock valued at $5,380,180 in the last 90 days. 0.42% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PCLN. Harvest Fund Management Co. Ltd acquired a new position in Priceline Group during the second quarter worth $101,000. Shine Investment Advisory Services Inc. acquired a new position in Priceline Group during the second quarter worth $105,000. Webster Bank N. A. boosted its holdings in Priceline Group by 24.0% during the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock worth $110,000 after purchasing an additional 12 shares during the last quarter. Assetmark Inc. boosted its holdings in Priceline Group by 12.5% during the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock worth $112,000 after purchasing an additional 7 shares during the last quarter. Finally, Capital Advisors Ltd. LLC acquired a new position in Priceline Group during the second quarter worth $112,000. Institutional investors and hedge funds own 94.53% of the company’s stock.
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About Priceline Group
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.