Traders Buy Shares of The Priceline Group Inc. (PCLN) on Weakness
Traders purchased shares of The Priceline Group Inc. (NASDAQ:PCLN) on weakness during trading on Wednesday. $186.45 million flowed into the stock on the tick-up and $158.01 million flowed out of the stock on the tick-down, for a money net flow of $28.44 million into the stock. Of all stocks tracked, The Priceline Group had the 14th highest net in-flow for the day. The Priceline Group traded down ($5.12) for the day and closed at $1,855.72
A number of brokerages have issued reports on PCLN. UBS AG reissued a “buy” rating and issued a $2,100.00 price target (up from $1,870.00) on shares of The Priceline Group in a report on Thursday, May 11th. Cowen and Company boosted their price target on The Priceline Group from $1,850.00 to $2,000.00 and gave the company an “outperform” rating in a report on Wednesday, April 19th. Vetr raised The Priceline Group from a “sell” rating to a “hold” rating and set a $1,875.00 price target for the company in a report on Thursday, May 11th. Piper Jaffray Companies reissued an “overweight” rating and issued a $110.00 price target (down from $2,150.00) on shares of The Priceline Group in a report on Friday, July 28th. Finally, Barclays PLC reissued an “overweight” rating on shares of The Priceline Group in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $1,924.32.
The stock’s 50 day moving average is $1,950.45 and its 200 day moving average is $1,817.26. The company has a market capitalization of $91.04 billion, a P/E ratio of 39.41 and a beta of 1.42.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $14.25 by $0.89. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm posted $13.93 earnings per share. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities analysts anticipate that The Priceline Group Inc. will post $74.91 earnings per share for the current year.
In other news, Director Jan L. Docter sold 2,500 shares of the business’s stock in a transaction 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 directly owns 320 shares of the company’s stock, valued at $600,288. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jan L. Docter sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the transaction, the director now directly owns 346 shares of the company’s stock, valued at $642,753.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,244 shares of company stock valued at $7,935,398. Insiders own 0.42% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of The Priceline Group during the second quarter worth approximately $101,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of The Priceline Group during the second quarter worth approximately $105,000. Hartford Financial Management Inc. acquired a new stake in shares of The Priceline Group during the first quarter worth approximately $106,000. Webster Bank N. A. increased its stake in shares of The Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock worth $110,000 after buying an additional 12 shares in the last quarter. Finally, Assetmark Inc. increased 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 worth $112,000 after buying an additional 7 shares in the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.
The Priceline Group Company Profile
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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