CI Global Investments Inc. Has $408,000 Stake in The Priceline Group Inc. (PCLN)
CI Global Investments Inc. cut its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 54.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 223 shares of the business services provider’s stock after selling 271 shares during the quarter. CI Global Investments Inc.’s holdings in The Priceline Group were worth $408,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of The Priceline Group during the second quarter worth about $101,000. Shine Investment Advisory Services Inc. purchased a new stake in The Priceline Group in the second quarter valued at approximately $105,000. Capital Advisors Ltd. LLC purchased a new stake in The Priceline Group in the second quarter valued at approximately $112,000. Proficio Capital Partners LLC lifted its stake in The Priceline Group by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after buying an additional 16 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in The Priceline Group in the second quarter valued at approximately $133,000. 95.10% of the stock is owned by institutional investors and hedge funds.
The Priceline Group Inc. (NASDAQ PCLN) traded up $24.90 during midday trading on Tuesday, reaching $1,722.15. The company had a trading volume of 507,300 shares, compared to its average volume of 459,260. The Priceline Group Inc. has a 1 year low of $1,459.49 and a 1 year high of $2,067.99. The stock has a market capitalization of $84,490.00, a P/E ratio of 22.80, a PEG ratio of 1.34 and a beta of 1.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.52 and a quick ratio of 2.52.
The Priceline Group (NASDAQ:PCLN) last released its earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $34.31 by $0.91. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the business posted $29.69 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. sell-side analysts predict that The Priceline Group Inc. will post 74.44 EPS for the current fiscal year.
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In related news, CEO Gillian Tans sold 122 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $1,940.00, for a total transaction of $236,680.00. Following the transaction, the chief executive officer now directly owns 5,555 shares in the company, valued at $10,776,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.24% of the company’s stock.
A number of brokerages have weighed in on PCLN. Barclays PLC reiterated an “overweight” rating on shares of The Priceline Group in a research note on Tuesday, November 7th. UBS AG restated a “neutral” rating on shares of The Priceline Group in a research note on Tuesday, November 7th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $1,950.00 price target (down previously from $2,100.00) on shares of The Priceline Group in a research note on Tuesday, November 7th. Citigroup Inc. restated a “buy” rating and set a $2,050.00 price target on shares of The Priceline Group in a research note on Tuesday, November 7th. Finally, Morgan Stanley restated an “overweight” rating and set a $1,900.00 price target (down previously from $2,100.00) 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, six have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $2,020.52.
The Priceline Group 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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