Cornerstone Advisors Inc. Sells 13 Shares of The Priceline Group Inc. (NASDAQ:PCLN)
Cornerstone Advisors Inc. cut its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 251 shares of the business services provider’s stock after selling 13 shares during the period. Cornerstone Advisors Inc.’s holdings in The Priceline Group were worth $470,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Hartford Financial Management Inc. bought a new stake in The Priceline Group during the first quarter worth about $106,000. Webster Bank N. A. raised its stake in The Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock worth $110,000 after buying an additional 12 shares during the period. Assetmark Inc. increased its position in shares of The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock worth $112,000 after buying an additional 7 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of The Priceline Group during the first quarter worth approximately $123,000. Finally, Proficio Capital Partners LLC increased its position in shares of 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 worth $129,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 95.01% of the company’s stock.
The Priceline Group Inc. (NASDAQ PCLN) traded up 0.41% during mid-day trading on Friday, reaching $1857.13. The company had a trading volume of 396,085 shares. The company’s 50 day moving average is $1,951.16 and its 200 day moving average is $1,807.68. The Priceline Group Inc. has a 52-week low of $1,392.44 and a 52-week high of $2,067.99. The stock has a market capitalization of $91.11 billion, a price-to-earnings ratio of 39.44 and a beta of 1.42. The Priceline Group also was the recipient of unusually large options trading on Tuesday. Traders purchased 15,301 put options on the stock. This is an increase of approximately 209% compared to the typical daily volume of 4,950 put options.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.25 by $0.89. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the business earned $13.93 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities analysts predict that The Priceline Group Inc. will post $74.80 earnings per share for the current year.
A number of research analysts recently commented on the company. UBS AG reissued a “buy” rating and issued a $2,100.00 price target (up previously from $1,870.00) on shares of The Priceline Group in a report on Thursday, May 11th. Royal Bank Of Canada increased their price target on The Priceline Group from $2,000.00 to $2,050.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Group LLC reissued a “buy” rating and issued a $2,250.00 price target on shares of The Priceline Group in a report on Friday, August 4th. Macquarie increased their price target on The Priceline Group from $2,000.00 to $2,200.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Barclays PLC reissued an “overweight” rating on shares of The Priceline Group in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $1,909.30.
In other The Priceline Group news, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $1,814.00, for a total transaction of $221,308.00. Following the completion of the sale, the chief executive officer now owns 6,044 shares in the company, valued at approximately $10,963,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the sale, the director now owns 346 shares of the company’s stock, valued at approximately $642,753.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,744 shares of company stock worth $3,245,648. 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 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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