South Street Advisors LLC Cuts Holdings in The Priceline Group Inc. (PCLN)
South Street Advisors LLC cut its holdings in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,416 shares of the business services provider’s stock after selling 57 shares during the period. The Priceline Group comprises about 3.0% of South Street Advisors LLC’s portfolio, making the stock its 3rd biggest position. South Street Advisors LLC’s holdings in The Priceline Group were worth $15,408,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Swiss National Bank increased its stake in 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 worth $336,043,000 after purchasing an additional 4,800 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in The Priceline Group during the third quarter worth about $36,616,000. Pacer Advisors Inc. increased its stake 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 period. Norinchukin Bank The increased its stake 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 period. Finally, Equitec Proprietary Markets LLC purchased a new stake in The Priceline Group during the third quarter worth about $549,000. Institutional investors own 94.68% of the company’s stock.
The Priceline Group Inc. (NASDAQ PCLN) opened at $1,715.52 on Tuesday. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $84,370.00, a P/E ratio of 23.10, a P/E/G ratio of 1.36 and a beta of 1.40. The Priceline Group Inc. has a fifty-two week low of $1,459.49 and a fifty-two 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $34.31 by $0.91. The firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.34 billion. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company posted $29.69 earnings per share. equities analysts anticipate that The Priceline Group Inc. will post 74.42 EPS for the current fiscal year.
In related news, Director Jan L. Docter sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the completion of the transaction, the director now directly owns 142 shares of the company’s stock, valued at $250,561.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $1,845.97, for a total value of $225,208.34. Following the completion of the sale, the chief executive officer now owns 5,677 shares of the company’s stock, valued at approximately $10,479,571.69. The disclosure for this sale can be found here. Insiders sold 1,567 shares of company stock valued at $2,790,353 over the last ninety days. 0.24% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on the company. MKM Partners downgraded The Priceline Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $2,225.00 to $1,850.00 in a research report on Thursday, December 7th. Argus downgraded The Priceline Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $1,459.49 to $1,739.71 in a research report on Friday, December 1st. They noted that the move was a valuation call. KeyCorp reissued a “hold” rating on shares of The Priceline Group in a research report on Thursday, November 16th. Barclays reissued an “overweight” rating on shares of The Priceline Group in a research report on Tuesday, November 7th. Finally, UBS reissued a “neutral” rating on shares of The Priceline Group in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $2,002.06.
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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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