First National Bank of Hutchinson cut its position in The Priceline Group Inc. (NASDAQ:PCLN) by 26.5% during the second quarter, Holdings Channel reports. The institutional investor owned 665 shares of the company’s stock after selling 240 shares during the period. The Priceline Group accounts for approximately 0.5% of First National Bank of Hutchinson’s investment portfolio, making the stock its 26th largest position. First National Bank of Hutchinson’s holdings in The Priceline Group were worth $801,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PCLN. Watch Point Trust Co raised its stake in shares of The Priceline Group by 239.7% in the first quarter. Watch Point Trust Co now owns 1,138 shares of the company’s stock worth $1,467,000 after buying an additional 803 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of The Priceline Group by 15.5% in the first quarter. Raymond James Trust N.A. now owns 826 shares of the company’s stock worth $1,065,000 after buying an additional 111 shares in the last quarter. Moreno Evelyn V bought a new stake in shares of The Priceline Group during the first quarter worth $5,070,000. Rosenbaum Jay D. bought a new stake in shares of The Priceline Group during the first quarter worth $485,000. Finally, Cohen Lawrence B raised its stake in shares of The Priceline Group by 24.8% in the first quarter. Cohen Lawrence B now owns 1,420 shares of the company’s stock worth $1,830,000 after buying an additional 282 shares in the last quarter. 94.07% of the stock is owned by institutional investors.

The Priceline Group Inc. (NASDAQ:PCLN) traded down 0.82% during mid-day trading on Monday, hitting $1448.06. 503,035 shares of the company traded hands. The company’s 50-day moving average is $1,416.27 and its 200-day moving average is $1,334.01. The stock has a market capitalization of $71.57 billion, a price-to-earnings ratio of 27.54 and a beta of 1.69. The Priceline Group Inc. has a one year low of $954.02 and a one year high of $1,476.52.

The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings data on Thursday, August 4th. The company reported $13.93 earnings per share for the quarter, topping the consensus estimate of $12.69 by $1.24. The Priceline Group had a net margin of 27.08% and a return on equity of 32.93%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm earned $12.45 EPS. The Priceline Group’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts predict that The Priceline Group Inc. will post $68.78 EPS for the current year.

A number of brokerages have recently weighed in on PCLN. Cantor Fitzgerald reaffirmed a “buy” rating on shares of The Priceline Group in a research note on Friday, September 9th. Evercore ISI raised shares of The Priceline Group from a “hold” rating to a “buy” rating and increased their target price for the company from $1,360.00 to $1,650.00 in a research note on Thursday, August 18th. Jefferies Group reissued a “buy” rating and set a $1,700.00 target price on shares of The Priceline Group in a research note on Tuesday, August 23rd. Vetr raised shares of The Priceline Group from a “buy” rating to a “strong-buy” rating and set a $1,698.54 target price for the company in a research note on Monday, September 5th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $1,400.00 target price (up from $1,250.00) on shares of The Priceline Group in a research note on Friday, August 5th. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $1,529.50.

In other The Priceline Group news, CEO Gillian Tans sold 131 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $1,327.89, for a total transaction of $173,953.59. Following the sale, the chief executive officer now directly owns 6,049 shares in the company, valued at approximately $8,032,406.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffery H. Boyd sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $1,266.92, for a total transaction of $3,800,760.00. Following the sale, the chief executive officer now owns 98,039 shares in the company, valued at $124,207,569.88. The disclosure for this sale can be found here. Company 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 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.

5 Day Chart for NASDAQ:PCLN

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