Investors Buy Priceline Group (PCLN) on Weakness

Investors purchased shares of Priceline Group Inc (NASDAQ:PCLN) on weakness during trading hours on Thursday. $278.82 million flowed into the stock on the tick-up and $188.13 million flowed out of the stock on the tick-down, for a money net flow of $90.69 million into the stock. Of all equities tracked, Priceline Group had the 15th highest net in-flow for the day. Priceline Group traded down ($76.62) for the day and closed at $1,806.06

A number of analysts have issued reports on the company. Zacks Investment Research downgraded Priceline Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Wells Fargo & Co raised their target price on Priceline Group from $1,800.00 to $1,850.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 30th. Guggenheim downgraded Priceline Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. Credit Suisse Group raised Priceline Group to a “buy” rating in a research note on Wednesday. Finally, Citigroup reaffirmed a “buy” rating and issued a $2,050.00 target price on shares of Priceline Group in a research note on Tuesday, November 7th. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Priceline Group has a consensus rating of “Buy” and an average price target of $2,025.31.

The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.52 and a current ratio of 2.52. The firm has a market cap of $88,080.72, a P/E ratio of 24.72, a PEG ratio of 1.34 and a beta of 1.38.

In related news, CEO Gillian Tans sold 123 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $1,715.78, for a total transaction of $211,040.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jan L. Docter sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the sale, the director now owns 142 shares of the company’s stock, valued at approximately $250,561.84. The disclosure for this sale can be found here. Insiders sold a total of 1,567 shares of company stock valued at $2,780,310 in the last quarter. Company insiders own 0.24% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. National Asset Management Inc. acquired a new position in Priceline Group during the second quarter worth approximately $540,000. Colony Group LLC acquired a new position in Priceline Group during the second quarter worth approximately $556,000. Covington Capital Management increased its position in Priceline Group by 1.2% during the second quarter. Covington Capital Management now owns 858 shares of the business services provider’s stock worth $1,605,000 after buying an additional 10 shares during the period. Public Employees Retirement System of Ohio increased its position in Priceline Group by 6.6% during the second quarter. Public Employees Retirement System of Ohio now owns 40,098 shares of the business services provider’s stock worth $75,004,000 after buying an additional 2,485 shares during the period. Finally, Mountain Capital Investment Advisors Inc acquired a new position in Priceline Group during the second quarter worth approximately $133,000. Hedge funds and other institutional investors own 93.97% of the company’s stock.

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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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