Rainier Investment Management LLC boosted its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 47.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,621 shares of the company’s stock after buying an additional 2,760 shares during the period. Rainier Investment Management LLC’s holdings in The Priceline Group were worth $10,763,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Guardian Capital LP raised its position in The Priceline Group by 33.8% in the second quarter. Guardian Capital LP now owns 5,528 shares of the company’s stock valued at $6,901,000 after buying an additional 1,398 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of The Priceline Group by 24.5% in the second quarter. Parametric Portfolio Associates LLC now owns 105,363 shares of the company’s stock valued at $131,536,000 after buying an additional 20,752 shares in the last quarter. Night Owl Capital Management LLC raised its position in shares of The Priceline Group by 25.8% in the second quarter. Night Owl Capital Management LLC now owns 7,496 shares of the company’s stock valued at $9,358,000 after buying an additional 1,539 shares in the last quarter. Scharf Investments LLC raised its position in shares of The Priceline Group by 5.9% in the second quarter. Scharf Investments LLC now owns 173,864 shares of the company’s stock valued at $217,054,000 after buying an additional 9,622 shares in the last quarter. Finally, Clinton Group Inc. raised its position in shares of The Priceline Group by 609.7% in the second quarter. Clinton Group Inc. now owns 13,363 shares of the company’s stock valued at $16,683,000 after buying an additional 11,480 shares in the last quarter. Institutional investors and hedge funds own 94.10% of the company’s stock.

Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

The Priceline Group Inc. (NASDAQ:PCLN) traded down 0.88% during mid-day trading on Friday, reaching $1540.65. 643,516 shares of the company’s stock traded hands. The stock has a 50 day moving average of $1,475.07 and a 200 day moving average of $1,377.97. The Priceline Group Inc. has a 12-month low of $954.02 and a 12-month high of $1,600.93. The company has a market cap of $76.02 billion, a P/E ratio of 39.33 and a beta of 1.69.

The Priceline Group (NASDAQ:PCLN) last announced its earnings results on Monday, November 7th. The company reported $31.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $29.88 by $1.30. The company earned $3.69 billion during the quarter, compared to analyst estimates of $3.61 billion. The Priceline Group had a net margin of 18.91% and a return on equity of 34.70%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business posted $25.35 earnings per share. On average, equities research analysts predict that The Priceline Group Inc. will post $64.68 earnings per share for the current fiscal year.

PCLN has been the topic of several research reports. Jefferies Group reiterated a “buy” rating on shares of The Priceline Group in a report on Monday, July 18th. Zacks Investment Research lowered shares of The Priceline Group from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Evercore ISI initiated coverage on shares of The Priceline Group in a report on Monday, July 25th. They set a “hold” rating and a $1,350.00 price objective on the stock. Piper Jaffray Cos. reiterated an “overweight” rating and set a $1,625.00 price objective (up previously from $1,500.00) on shares of The Priceline Group in a report on Monday, August 1st. Finally, RBC Capital Markets reissued a “buy” rating and set a $1,600.00 target price on shares of The Priceline Group in a research report on Monday, August 1st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $1,622.45.

In related news, insider Glenn D. Fogel sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $1,434.75, for a total transaction of $1,434,750.00. Following the completion of the sale, the insider now directly owns 25,131 shares in the company, valued at $36,056,702.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gillian Tans sold 130 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $1,431.98, for a total transaction of $186,157.40. Following the sale, the chief executive officer now owns 5,788 shares of the company’s stock, valued at $8,288,300.24. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

About The Priceline Group

The Priceline Group Inc is a provider of travel and restaurant 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.

5 Day Chart for NASDAQ:PCLN

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