The Priceline Group Inc. (PCLN) Shares Bought by Private Wealth Partners LLC
Private Wealth Partners LLC raised its holdings in The Priceline Group Inc. (NASDAQ:PCLN) by 570.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,844 shares of the business services provider’s stock after purchasing an additional 3,271 shares during the quarter. The Priceline Group accounts for approximately 1.4% of Private Wealth Partners LLC’s investment portfolio, making the stock its 22nd biggest position. Private Wealth Partners LLC’s holdings in The Priceline Group were worth $7,038,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Swiss National Bank boosted its holdings in shares of The Priceline Group by 2.7% in the 2nd quarter. Swiss National Bank now owns 179,652 shares of the business services provider’s stock valued at $336,043,000 after purchasing an additional 4,800 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of The Priceline Group in the 3rd quarter valued at $36,616,000. Pacer Advisors Inc. boosted its holdings in shares of The Priceline Group by 4.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,647 shares of the business services provider’s stock valued at $3,081,000 after acquiring an additional 69 shares in the last quarter. Norinchukin Bank The boosted its holdings in shares of The Priceline Group by 4.0% during the 2nd quarter. Norinchukin Bank The now owns 5,942 shares of the business services provider’s stock valued at $11,115,000 after acquiring an additional 228 shares in the last quarter. Finally, Troy Asset Management Ltd acquired a new stake in shares of The Priceline Group during the 3rd quarter valued at $3,295,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on PCLN shares. Morgan Stanley raised their price objective on The Priceline Group from $1,950.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Piper Jaffray Companies reissued an “overweight” rating and set a $110.00 price objective (down previously from $2,150.00) on shares of The Priceline Group in a report on Friday, July 28th. Credit Suisse Group set a $2,150.00 price objective on The Priceline Group and gave the company a “buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and set a $2,250.00 price objective on shares of The Priceline Group in a report on Friday, August 4th. Finally, Royal Bank Of Canada raised their price objective on The Priceline Group from $2,000.00 to $2,050.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $2,020.52.
In other news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $1,845.97, for a total value of $225,208.34. Following the transaction, the chief executive officer now owns 5,677 shares in the company, valued at approximately $10,479,571.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 367 shares of company stock worth $693,175 in the last 90 days. Company insiders own 0.24% of the company’s stock.
Shares of The Priceline Group Inc. (NASDAQ PCLN) traded down $5.89 during midday trading on Monday, hitting $1,697.25. The stock had a trading volume of 725,500 shares, compared to its average volume of 459,039. The Priceline Group Inc. has a 12-month low of $1,459.49 and a 12-month high of $2,067.99. The stock has a market cap of $83,270.00, a P/E ratio of 22.80, a PEG ratio of 1.34 and a beta of 1.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.52 and a quick ratio of 2.52.
The Priceline Group (NASDAQ:PCLN) last announced its earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, topping analysts’ consensus estimates of $34.31 by $0.91. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the business earned $29.69 EPS. The company’s revenue was up 20.1% compared to the same quarter last year. research analysts expect that The Priceline Group Inc. will post 74.44 earnings per share for the current fiscal year.
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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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