HPM Partners LLC raised its holdings in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 640.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,074 shares of the business services provider’s stock after purchasing an additional 6,983 shares during the period. HPM Partners LLC’s holdings in The Priceline Group were worth $1,070,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new position in The Priceline Group during the 2nd quarter valued at approximately $105,000. Capital Advisors Ltd. LLC bought a new position in The Priceline Group during the 2nd quarter valued at approximately $112,000. Assetmark Inc. raised its position in The Priceline Group by 12.5% during the 1st quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 7 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in The Priceline Group during the 1st quarter valued at approximately $123,000. Finally, Proficio Capital Partners LLC raised its position in The Priceline Group by 29.6% during the 1st quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 16 shares during the last quarter. 94.53% of the stock is owned by institutional investors and hedge funds.
Shares of The Priceline Group Inc. (PCLN) opened at 1868.64 on Wednesday. The Priceline Group Inc. has a 52 week low of $1,405.53 and a 52 week high of $2,067.99. The stock has a market capitalization of $91.67 billion, a P/E ratio of 39.69 and a beta of 1.47. The firm’s 50-day moving average price is $1,901.28 and its 200 day moving average price is $1,844.52.
The Priceline Group (NASDAQ:PCLN) last issued its quarterly 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 for 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 business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm posted $13.93 earnings per share. Analysts expect that The Priceline Group Inc. will post $74.70 earnings per share for the current year.
In other news, 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 transaction, the chief executive officer now directly owns 6,044 shares of the company’s stock, valued at $10,963,816. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jan L. Docter sold 2,500 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the transaction, the director now directly owns 320 shares in the company, valued at $600,288. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,867 shares of company stock worth $5,380,180. Insiders own 0.42% of the company’s stock.
A number of research firms have commented on PCLN. UBS AG reaffirmed an “overweight” rating on shares of The Priceline Group in a research report on Thursday, August 24th. SunTrust Banks, Inc. began coverage on The Priceline Group in a research report on Tuesday, August 15th. They set a “buy” rating and a $2,200.00 price target for the company. MKM Partners reaffirmed a “buy” rating and set a $2,225.00 price target (up previously from $2,050.00) on shares of The Priceline Group in a research report on Monday, August 14th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $2,200.00 price target (up previously from $2,150.00) on shares of The Priceline Group in a research report on Thursday, August 10th. Finally, Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of The Priceline Group in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The Priceline Group presently has a consensus rating of “Buy” and an average target price of $1,924.32.
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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