The Priceline Group Inc. (PCLN) Shares Sold by American International Group Inc.
American International Group Inc. decreased its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,318 shares of the business services provider’s stock after selling 836 shares during the period. American International Group Inc.’s holdings in The Priceline Group were worth $37,199,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in The Priceline Group during the 2nd quarter worth $101,000. Shine Investment Advisory Services Inc. acquired a new stake in The Priceline Group during the 2nd quarter worth $105,000. Horan Capital Advisors LLC. acquired a new stake in The Priceline Group during the 3rd quarter worth $103,000. Capital Advisors Ltd. LLC acquired a new stake in The Priceline Group during the 2nd quarter worth $112,000. Finally, Proficio Capital Partners LLC boosted its stake in The Priceline Group by 29.6% during the 1st quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock worth $129,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 95.22% of the company’s stock.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded down $7.48 on Thursday, hitting $1,759.19. 369,060 shares of the stock were exchanged, compared to its average volume of 460,520. 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 stock has a market cap of $86,159.68, a P/E ratio of 23.73, a PEG ratio of 1.40 and a beta of 1.43. The Priceline Group Inc. has a 1-year low of $1,459.49 and a 1-year 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 business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.34 billion. The Priceline Group had a net margin of 38.80% and a return on equity of 56.41%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm posted $29.69 EPS. equities analysts forecast that The Priceline Group Inc. will post 74.42 EPS for the current fiscal year.
In other news, CEO Gillian Tans sold 122 shares of the stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 367 shares of company stock valued at $672,929 in the last quarter. Insiders own 0.24% of the company’s stock.
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A number of analysts recently weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of The Priceline Group in a research note on Thursday, November 16th. Barclays PLC reiterated an “overweight” rating on shares of The Priceline Group in a research note on Tuesday, November 7th. UBS Group AG reiterated a “neutral” rating on shares of The Priceline Group in a research note on Tuesday, November 7th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $1,950.00 price target (down previously from $2,100.00) on shares of The Priceline Group in a research note on Tuesday, November 7th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $2,050.00 price target on shares of The Priceline Group in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The Priceline Group presently has an average rating of “Buy” and a consensus target price of $2,020.52.
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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