Municipal Employees Retirement System of Michigan maintained its position in The Priceline Group Inc. (NASDAQ:PCLN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,590 shares of the business services provider’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in The Priceline Group were worth $2,974,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in The Priceline Group during the first quarter worth approximately $358,128,000. C WorldWide Group Holding A S bought a new position in The Priceline Group during the first quarter worth approximately $189,324,000. Vanguard Group Inc. raised its position in The Priceline Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 3,204,680 shares of the business services provider’s stock worth $5,704,234,000 after buying an additional 93,992 shares during the period. Schroder Investment Management Group raised its position in The Priceline Group by 689.5% in the first quarter. Schroder Investment Management Group now owns 85,556 shares of the business services provider’s stock worth $153,077,000 after buying an additional 74,719 shares during the period. Finally, FMR LLC raised its position in The Priceline Group by 3.8% in the first quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock worth $3,275,411,000 after buying an additional 67,569 shares during the period. Hedge funds and other institutional investors own 95.01% of the company’s stock.

The Priceline Group Inc. (PCLN) opened at 1854.17 on Friday. The firm has a market capitalization of $90.96 billion, a P/E ratio of 39.38 and a beta of 1.42. The stock has a 50 day moving average price of $1,950.91 and a 200-day moving average price of $1,809.82. The Priceline Group Inc. has a 52 week low of $1,392.44 and a 52 week high of $2,067.99.

The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $2.99 billion. During the same period last year, the firm earned $13.93 earnings per share. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. Analysts anticipate that The Priceline Group Inc. will post $74.80 EPS for the current fiscal year.

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PCLN has been the topic of a number of recent research reports. BidaskClub upgraded The Priceline Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Goldman Sachs Group, Inc. (The) lifted their price target on The Priceline Group from $1,750.00 to $1,850.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. Macquarie set a $1,970.00 price target on The Priceline Group and gave the company a “buy” rating in a research note on Tuesday, April 18th. J P Morgan Chase & Co lifted their price target on The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a research note on Wednesday, May 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,850.00 price target on shares of The Priceline Group in a research note on Monday, April 17th. One investment 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 company’s stock. The Priceline Group has a consensus rating of “Buy” and an average price target of $1,909.30.

In other news, CEO Gillian Tans sold 122 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the completion of the sale, the chief executive officer now directly owns 5,922 shares in the company, valued at $11,544,761.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jan L. Docter sold 1,500 shares of the stock in a transaction dated Tuesday, May 30th. The stock was 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 $642,753.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,744 shares of company stock valued at $3,245,648. 0.42% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

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