Investors Buy The Priceline Group Inc. (PCLN) on Weakness
Traders purchased shares of The Priceline Group Inc. (NASDAQ:PCLN) on weakness during trading on Friday. $141.28 million flowed into the stock on the tick-up and $93.12 million flowed out of the stock on the tick-down, for a money net flow of $48.16 million into the stock. Of all stocks tracked, The Priceline Group had the 12th highest net in-flow for the day. The Priceline Group traded down ($6.80) for the day and closed at $1,838.57
Several equities research analysts have weighed in on the company. Credit Suisse Group reissued an “outperform” rating and issued a $2,070.00 price target (down previously from $2,150.00) on shares of The Priceline Group in a report on Wednesday, August 9th. Needham & Company LLC reissued a “buy” rating on shares of The Priceline Group in a report on Wednesday, June 21st. MKM Partners reissued a “buy” rating and issued a $2,050.00 price target (up previously from $2,030.00) on shares of The Priceline Group in a report on Wednesday, May 17th. UBS AG reissued an “overweight” rating on shares of The Priceline Group in a report on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $2,100.00 price target on shares of The Priceline Group in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The Priceline Group has a consensus rating of “Buy” and an average target price of $1,924.32.
The company’s 50 day moving average price is $1,909.48 and its 200-day moving average price is $1,840.09. The firm has a market capitalization of $90.20 billion, a price-to-earnings ratio of 39.05 and a beta of 1.47.
The Priceline Group (NASDAQ:PCLN) last issued its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.25 by $0.89. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the business posted $13.93 EPS. On average, equities analysts anticipate that The Priceline Group Inc. will post $74.70 EPS for the current fiscal year.
In related news, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $1,814.00, for a total value of $221,308.00. Following the completion of the transaction, the chief executive officer now directly owns 6,044 shares of the company’s stock, valued at approximately $10,963,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jan L. Docter sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the completion of the transaction, the director now directly owns 320 shares of the company’s stock, valued at $600,288. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,867 shares of company stock valued at $5,380,180. Company insiders own 0.42% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCLN. Harbour Capital Advisors LLC increased its stake in The Priceline Group by 210,283.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock valued at $523,000 after purchasing an additional 977,817 shares in the last quarter. Janus Henderson Group PLC increased its stake in The Priceline Group by 654.1% in the 2nd quarter. Janus Henderson Group PLC now owns 642,567 shares of the business services provider’s stock valued at $1,201,971,000 after purchasing an additional 557,358 shares in the last quarter. Renaissance Technologies LLC purchased a new position in The Priceline Group in the 1st quarter valued at approximately $358,128,000. Capital Research Global Investors increased its stake in The Priceline Group by 7.1% in the 2nd quarter. Capital Research Global Investors now owns 1,622,668 shares of the business services provider’s stock valued at $3,035,233,000 after purchasing an additional 108,187 shares in the last quarter. Finally, C WorldWide Group Holding A S purchased a new position in The Priceline Group in the 1st quarter valued at approximately $189,324,000. 94.53% of the stock is owned by hedge funds and other institutional investors.
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About The 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.
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