California Public Employees Retirement System Acquires 5,173 Shares of The Priceline Group Inc. (PCLN)
California Public Employees Retirement System raised its position in The Priceline Group Inc. (NASDAQ:PCLN) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,303 shares of the business services provider’s stock after buying an additional 5,173 shares during the period. California Public Employees Retirement System owned 0.23% of The Priceline Group worth $203,776,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd acquired a new position in shares of The Priceline Group in the second quarter valued at approximately $101,000. Horan Capital Advisors LLC. acquired a new position in shares of The Priceline Group in the third quarter valued at approximately $103,000. Shine Investment Advisory Services Inc. acquired a new position in shares of The Priceline Group in the second quarter valued at approximately $105,000. Capital Advisors Ltd. LLC acquired a new position in shares of The Priceline Group in the second quarter valued at approximately $112,000. Finally, Mountain Capital Investment Advisors Inc acquired a new position in The Priceline Group during the second quarter worth $133,000. Hedge funds and other institutional investors own 94.68% of the company’s stock.
The Priceline Group Inc. (PCLN) opened at $1,719.84 on Monday. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $83,875.80, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.36 and a beta of 1.40. The Priceline Group Inc. has a twelve month low of $1,459.49 and a twelve month high of $2,067.99.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data on Monday, November 6th. The business services provider reported $35.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $34.31 by $0.91. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.34 billion. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $29.69 earnings per share. equities analysts forecast that The Priceline Group Inc. will post 74.42 EPS for the current year.
In related news, CEO Gillian Tans sold 123 shares of the stock in a transaction 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 SEC, which can be accessed through the SEC website. Also, Director Jan L. Docter sold 1,200 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the sale, the director now directly owns 142 shares in the company, valued at $250,561.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,567 shares of company stock valued at $2,790,353. 0.24% of the stock is owned by corporate insiders.
Several equities analysts have recently weighed in on PCLN shares. MKM Partners reissued a “buy” rating and issued a $2,225.00 price objective (up from $2,050.00) on shares of The Priceline Group in a research report on Monday, August 14th. Argus lowered shares of The Priceline Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $1,459.49 to $1,739.71 in a research report on Friday, December 1st. They noted that the move was a valuation call. Bank of America reaffirmed a “buy” rating and set a $2,150.00 price target on shares of The Priceline Group in a research report on Tuesday, September 26th. SunTrust Banks initiated coverage on shares of The Priceline Group in a research note on Tuesday, August 15th. They set a “buy” rating and a $2,200.00 price objective on the stock. Finally, Guggenheim downgraded shares of The Priceline Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $2,002.06.
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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