Traders Buy Shares of Priceline Group (PCLN) on Weakness After Insider Selling
Investors bought shares of Priceline Group Inc (NASDAQ:PCLN) on weakness during trading on Friday following insider selling activity. $418.21 million flowed into the stock on the tick-up and $212.04 million flowed out of the stock on the tick-down, for a money net flow of $206.17 million into the stock. Of all equities tracked, Priceline Group had the 6th highest net in-flow for the day. Priceline Group traded down ($16.50) for the day and closed at $1,910.21Specifically, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $1,772.94, for a total transaction of $216,298.68. Following the completion of the sale, the chief executive officer now directly owns 5,310 shares of the company’s stock, valued at approximately $9,414,311.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jan L. Docter sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $1,764.52, for a total transaction of $2,117,424.00. Following the sale, the director now directly owns 142 shares of the company’s stock, valued at $250,561.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,567 shares of company stock valued at $2,780,310. Insiders own 0.24% of the company’s stock.
PCLN has been the subject of a number of research analyst reports. Barclays reaffirmed a “buy” rating and set a $2,150.00 price objective on shares of Priceline Group in a report on Wednesday, October 11th. Bank of America reaffirmed a “buy” rating and set a $2,150.00 price objective on shares of Priceline Group in a report on Tuesday, September 26th. SunTrust Banks reaffirmed a “buy” rating and set a $2,200.00 price objective on shares of Priceline Group in a report on Wednesday, October 4th. Zacks Investment Research lowered shares of Priceline Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, Deutsche Bank reaffirmed a “hold” rating and set a $2,050.00 price objective on shares of Priceline Group in a report on Tuesday, October 24th. Eleven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Priceline Group presently has an average rating of “Buy” and an average target price of $2,019.79.
The stock has a market capitalization of $93,710.00, a PE ratio of 26.76, a PEG ratio of 1.45 and a beta of 1.39. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.68.
Priceline Group (NASDAQ:PCLN) last released 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. Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the firm posted $29.69 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. equities research analysts predict that Priceline Group Inc will post 74.42 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D purchased a new stake in Priceline Group in the third quarter worth $36,616,000. Equitec Proprietary Markets LLC purchased a new stake in Priceline Group in the third quarter worth $549,000. Troy Asset Management Ltd purchased a new stake in Priceline Group in the third quarter worth $3,295,000. Huntington National Bank increased its stake in Priceline Group by 14.4% in the third quarter. Huntington National Bank now owns 13,761 shares of the business services provider’s stock worth $25,194,000 after purchasing an additional 1,734 shares during the period. Finally, River & Mercantile Asset Management LLP increased its stake in Priceline Group by 5.0% in the third quarter. River & Mercantile Asset Management LLP now owns 2,096 shares of the business services provider’s stock worth $3,836,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.
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About 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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