Investors Buy Shares of The Priceline Group (PCLN) on Weakness
Investors purchased shares of The Priceline Group Inc. (NASDAQ:PCLN) on weakness during trading hours on Friday. $404.18 million flowed into the stock on the tick-up and $203.30 million flowed out of the stock on the tick-down, for a money net flow of $200.88 million into the stock. Of all companies tracked, The Priceline Group had the 9th highest net in-flow for the day. The Priceline Group traded down ($0.92) for the day and closed at $1,760.00
A number of analysts have recently weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of The Priceline Group in a research note on Thursday, November 16th. Morgan Stanley reiterated an “overweight” rating and issued a $2,100.00 price objective (up previously from $2,050.00) on shares of The Priceline Group in a research note on Monday, October 2nd. UBS reiterated an “overweight” rating on shares of The Priceline Group in a research note on Thursday, August 24th. BidaskClub lowered shares of The Priceline Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Finally, Royal Bank of Canada increased their price objective on shares of The Priceline Group from $2,050.00 to $2,100.00 and gave the stock an “outperform” rating 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 given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $2,002.06.
The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.52 and a current ratio of 2.52. The firm has a market cap of $85,879.26, a price-to-earnings ratio of 23.65, a PEG ratio of 1.39 and a beta of 1.40.
In other news, Director Jan L. Docter sold 1,200 shares of the firm’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 $250,561.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gillian Tans sold 122 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 5,555 shares in the company, valued at $10,776,700. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,445 shares of company stock worth $2,565,145. Insiders own 0.24% of the company’s stock.
Large investors have recently bought and sold shares of the company. Swiss National Bank lifted its stake in shares of The Priceline Group by 2.7% in the second quarter. Swiss National Bank now owns 179,652 shares of the business services provider’s stock worth $336,043,000 after buying an additional 4,800 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in The Priceline Group during the third quarter worth about $36,616,000. Pacer Advisors Inc. increased 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 worth $3,081,000 after purchasing an additional 69 shares during the last quarter. Norinchukin Bank The increased 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 worth $11,115,000 after purchasing an additional 228 shares during the last quarter. Finally, Equitec Proprietary Markets LLC acquired a new stake in The Priceline Group during the third quarter worth about $549,000. 94.68% of the stock is currently owned by hedge funds and other institutional investors.
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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