The Priceline Group Inc. (PCLN) Shares Sold by Bray Capital Advisors
Bray Capital Advisors decreased its holdings in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,963 shares of the business services provider’s stock after selling 83 shares during the period. The Priceline Group comprises approximately 1.9% of Bray Capital Advisors’ holdings, making the stock its 13th largest position. Bray Capital Advisors’ holdings in The Priceline Group were worth $3,593,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Birch Hill Investment Advisors LLC lifted its stake in The Priceline Group by 4.6% in the 1st quarter. Birch Hill Investment Advisors LLC now owns 14,486 shares of the business services provider’s stock worth $25,785,000 after purchasing an additional 635 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of The Priceline Group in the 1st quarter worth about $210,000. Sustainable Growth Advisers LP grew its holdings in The Priceline Group by 7.5% during the 1st quarter. Sustainable Growth Advisers LP now owns 136,227 shares of the business services provider’s stock valued at $242,480,000 after purchasing an additional 9,511 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in The Priceline Group by 2.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 360,758 shares of the business services provider’s stock valued at $642,138,000 after purchasing an additional 8,817 shares during the last quarter. Finally, Cleararc Capital Inc. grew its holdings in The Priceline Group by 1.4% during the 1st quarter. Cleararc Capital Inc. now owns 1,201 shares of the business services provider’s stock valued at $2,138,000 after purchasing an additional 17 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.
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In other news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $1,940.00, for a total value of $236,680.00. Following the transaction, the chief executive officer now directly owns 5,555 shares of the company’s stock, valued at approximately $10,776,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jan L. Docter sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were 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 directly owns 320 shares in the company, valued at $600,288. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,867 shares of company stock worth $5,382,925. Corporate insiders own 0.24% of the company’s stock.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded down $10.92 during midday trading on Monday, reaching $1,883.57. The company had a trading volume of 151,015 shares, compared to its average volume of 375,704. The Priceline Group Inc. has a 1 year low of $1,422.19 and a 1 year high of $2,067.99. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $92,940.00, a PE ratio of 27.00, a PEG ratio of 1.49 and a beta of 1.43.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (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 business’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm posted $13.93 earnings per share. sell-side analysts forecast that The Priceline Group Inc. will post 75 earnings per share for the current fiscal year.
PCLN has been the subject of several research reports. Morgan Stanley upped their price target on shares of The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $2,300.00 price objective (up previously from $2,250.00) on shares of The Priceline Group in a research note on Thursday, August 10th. UBS AG reiterated a “buy” rating and issued a $2,100.00 price objective on shares of The Priceline Group in a research note on Thursday, August 10th. MKM Partners reiterated a “buy” rating and issued a $2,225.00 price objective (up previously from $2,050.00) on shares of The Priceline Group in a research note on Monday, August 14th. Finally, Zacks Investment Research lowered shares of The Priceline Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $1,960.17.
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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