HM Payson & Co. Increases Stake in The Priceline Group Inc. (PCLN)
HM Payson & Co. increased its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 473.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,849 shares of the business services provider’s stock after buying an additional 3,178 shares during the period. HM Payson & Co.’s holdings in The Priceline Group were worth $7,047,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of The Priceline Group by 2.7% during the second quarter. Swiss National Bank now owns 179,652 shares of the business services provider’s stock valued at $336,043,000 after buying an additional 4,800 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in The Priceline Group during the third quarter valued at about $36,616,000. Pacer Advisors Inc. boosted its position in The Priceline Group by 4.4% during the second quarter. Pacer Advisors Inc. now owns 1,647 shares of the business services provider’s stock valued at $3,081,000 after purchasing an additional 69 shares in the last quarter. Norinchukin Bank The boosted its position in The Priceline Group by 4.0% during the second quarter. Norinchukin Bank The now owns 5,942 shares of the business services provider’s stock valued at $11,115,000 after purchasing an additional 228 shares in the last quarter. Finally, Equitec Proprietary Markets LLC bought a new stake in The Priceline Group during the third quarter valued at about $549,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.
Shares of The Priceline Group Inc. (NASDAQ PCLN) traded down $5.89 during mid-day trading on Friday, reaching $1,697.25. The company had a trading volume of 725,500 shares, compared to its average volume of 459,039. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.20 and a current ratio of 2.52. The stock has a market capitalization of $83,061.35, a PE ratio of 22.88, a P/E/G ratio of 1.35 and a beta of 1.43. The Priceline Group Inc. has a 52 week low of $1,459.49 and a 52 week high of $2,067.99.
The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, beating the consensus estimate of $34.31 by $0.91. The company had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.34 billion. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The Priceline Group’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the business earned $29.69 earnings per share. research analysts anticipate that The Priceline Group Inc. will post 74.44 EPS for the current year.
In related news, CEO Gillian Tans sold 123 shares of The Priceline Group stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $1,880.38, for a total transaction of $231,286.74. Following the completion of the transaction, the chief executive officer now directly owns 5,799 shares in the company, valued at $10,904,323.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 367 shares of company stock valued at $693,175. 0.24% of the stock is owned by company insiders.
A number of equities research analysts recently weighed in on the company. Barclays PLC reaffirmed an “overweight” rating on shares of The Priceline Group in a research report on Tuesday. UBS AG reaffirmed a “neutral” rating on shares of The Priceline Group in a research report on Tuesday. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $1,950.00 price objective (down previously from $2,100.00) on shares of The Priceline Group in a research report on Tuesday. Citigroup Inc. reaffirmed a “buy” rating and set a $2,050.00 price objective on shares of The Priceline Group in a research report on Tuesday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,900.00 price objective (down previously from $2,100.00) on shares of The Priceline Group in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $2,020.52.
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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