Teachers Retirement System of The State of Kentucky Raises Stake in The Priceline Group Inc. (PCLN)
Teachers Retirement System of The State of Kentucky raised its holdings in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,132 shares of the business services provider’s stock after acquiring an additional 1,650 shares during the quarter. The Priceline Group makes up approximately 0.6% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 23rd biggest position. Teachers Retirement System of The State of Kentucky owned approximately 0.05% of The Priceline Group worth $47,009,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of The Priceline Group in the second quarter valued at $101,000. Shine Investment Advisory Services Inc. bought a new position in shares of The Priceline Group in the second quarter valued at $105,000. Capital Advisors Ltd. LLC bought a new position in shares of The Priceline Group in the second quarter valued at $112,000. Assetmark Inc. grew its stake in shares of The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after buying an additional 7 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of The Priceline Group by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after buying an additional 16 shares in the last quarter. 94.44% of the stock is owned by institutional investors.
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In other news, Director Jan L. Docter sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the completion of the transaction, the director now owns 320 shares in the company, valued at approximately $600,288. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total value of $237,835.34. Following the completion of the transaction, the chief executive officer now owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,867 shares of company stock valued at $5,384,080. 0.42% of the stock is currently owned by company insiders.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded down 0.23% during trading on Friday, reaching $1862.13. The company’s stock had a trading volume of 236,085 shares. The Priceline Group Inc. has a 52-week low of $1,422.19 and a 52-week high of $2,067.99. The stock has a market cap of $91.35 billion, a price-to-earnings ratio of 39.55 and a beta of 1.47. The stock’s 50 day moving average price is $1,873.07 and its 200-day moving average price is $1,851.42.
The Priceline Group (NASDAQ:PCLN) last released its earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating the Zacks’ consensus estimate of $14.25 by $0.89. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.99 billion. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted $13.93 EPS. Equities analysts anticipate that The Priceline Group Inc. will post $74.70 EPS for the current year.
Several equities analysts recently weighed in on the stock. UBS AG reissued an “overweight” rating on shares of The Priceline Group in a research note on Thursday, August 24th. SunTrust Banks, Inc. assumed coverage on The Priceline Group in a report on Tuesday, August 15th. They set a “buy” rating and a $2,200.00 price target for the company. MKM Partners reaffirmed 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. Susquehanna Bancshares Inc reaffirmed 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. reaffirmed 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 given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $1,924.32.
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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