California State Teachers Retirement System Reduces Position in The Priceline Group Inc. (PCLN)
California State Teachers Retirement System lessened its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 8.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 82,552 shares of the business services provider’s stock after selling 8,084 shares during the period. California State Teachers Retirement System owned 0.17% of The Priceline Group worth $151,138,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd bought a new stake in The Priceline Group during the 2nd quarter valued at $101,000. Horan Capital Advisors LLC. bought a new stake in The Priceline Group during the 3rd quarter valued at $103,000. Shine Investment Advisory Services Inc. bought a new stake in The Priceline Group during the 2nd quarter valued at $105,000. Mountain Capital Investment Advisors Inc bought a new stake in The Priceline Group during the 2nd quarter valued at $133,000. Finally, TCI Wealth Advisors Inc. increased its stake in The Priceline Group by 8.7% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 75 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 6 shares in the last quarter. Institutional investors own 94.68% of the company’s stock.
The Priceline Group Inc. (NASDAQ:PCLN) opened at $1,723.72 on Wednesday. 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 firm has a market cap of $83,665.12, a PE ratio of 23.04, a P/E/G ratio of 1.36 and a beta of 1.40. The Priceline Group Inc. has a fifty-two week low of $1,459.49 and a fifty-two week high of $2,067.99.
The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $34.31 by $0.91. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.34 billion. The Priceline Group had a net margin of 29.20% and a return on equity of 33.02%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $29.69 EPS. analysts predict that The Priceline Group Inc. will post 74.42 earnings per share for the current fiscal year.
A number of brokerages have commented on PCLN. Deutsche Bank restated a “hold” rating and set a $2,050.00 price target on shares of The Priceline Group in a research note on Tuesday, October 24th. Barclays restated a “buy” rating and set a $2,150.00 price target on shares of The Priceline Group in a research note on Wednesday, October 11th. Stifel Nicolaus decreased their price target on shares of The Priceline Group from $2,100.00 to $2,000.00 and set a “buy” rating for the company in a research note on Tuesday, November 7th. Royal Bank of Canada boosted their price target on shares of The Priceline Group from $2,050.00 to $2,100.00 and gave the company an “outperform” rating in a research note on Tuesday, November 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $2,000.00 target price (down previously from $2,200.00) on shares of The Priceline Group in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The Priceline Group currently has a consensus rating of “Buy” and a consensus price target of $2,002.06.
In related news, Director Jan L. Docter sold 1,200 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 142 shares of the company’s stock, valued at approximately $250,561.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $1,845.97, for a total transaction of $225,208.34. Following the completion of the transaction, the chief executive officer now directly owns 5,677 shares in the company, valued at $10,479,571.69. The disclosure for this sale can be found here. Insiders sold a total of 1,567 shares of company stock worth $2,790,353 over the last three months. 0.24% of the stock is owned by insiders.
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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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