Retirement Systems of Alabama lowered its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,841 shares of the business services provider’s stock after selling 2,226 shares during the period. Retirement Systems of Alabama’s holdings in The Priceline Group were worth $74,523,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Callahan Advisors LLC increased its stake in shares of The Priceline Group by 0.5% in the second quarter. Callahan Advisors LLC now owns 4,985 shares of the business services provider’s stock valued at $9,325,000 after buying an additional 24 shares during the period. Lowe Brockenbrough & Co. Inc. increased its stake in shares of The Priceline Group by 1.1% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 2,561 shares of the business services provider’s stock valued at $4,790,000 after buying an additional 29 shares during the period. Eads & Heald Investment Counsel increased its stake in shares of The Priceline Group by 18.3% in the second quarter. Eads & Heald Investment Counsel now owns 1,056 shares of the business services provider’s stock valued at $1,975,000 after buying an additional 163 shares during the period. Korea Investment CORP increased its stake in shares of The Priceline Group by 32.7% in the second quarter. Korea Investment CORP now owns 27,988 shares of the business services provider’s stock valued at $52,352,000 after buying an additional 6,898 shares during the period. Finally, Welch & Forbes LLC increased its stake in shares of The Priceline Group by 6.4% in the second quarter. Welch & Forbes LLC now owns 12,846 shares of the business services provider’s stock valued at $24,029,000 after buying an additional 775 shares during the period. Institutional investors own 95.22% of the company’s stock.

Shares of The Priceline Group Inc. (NASDAQ PCLN) opened at 1810.00 on Friday. The firm has a market capitalization of $88.80 billion, a PE ratio of 38.44 and a beta of 1.42. The Priceline Group Inc. has a 52-week low of $1,402.67 and a 52-week high of $2,067.99. The firm’s 50-day moving average price is $1,946.27 and its 200-day moving average price is $1,818.99.

The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the firm posted $13.93 earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. On average, equities analysts predict that The Priceline Group Inc. will post $74.77 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was first posted by Watch List News and is the property of of Watch List News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.watchlistnews.com/retirement-systems-of-alabama-sells-2226-shares-of-the-priceline-group-inc-pcln/1506040.html.

Several brokerages have weighed in on PCLN. SunTrust Banks, Inc. began coverage on The Priceline Group in a report on Tuesday. They set a “buy” rating and a $2,200.00 price target on the stock. MKM Partners restated a “buy” rating and set a $2,225.00 price target (up previously from $2,050.00) on shares of The Priceline Group in a report on Monday, August 14th. UBS AG restated a “buy” rating and set a $2,100.00 price target on shares of The Priceline Group in a report on Thursday, August 10th. Susquehanna Bancshares Inc restated a “positive” rating and set a $2,200.00 price target (up previously from $2,150.00) on shares of The Priceline Group in a report on Thursday, August 10th. Finally, Raymond James Financial, Inc. restated a “buy” rating on shares of The Priceline Group in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,924.32.

In related news, Director Jan L. Docter sold 1,500 shares of the business’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $1,814.00, for a total value of $221,308.00. Following the sale, the chief executive officer now directly owns 6,044 shares in the company, valued at approximately $10,963,816. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,367 shares of company stock worth $8,166,685. 0.42% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding PCLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Priceline Group Inc. (NASDAQ:PCLN).

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

Receive News & Ratings for The Priceline Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Priceline Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.