Greystone Managed Investments Inc. reduced its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,290 shares of the business services provider’s stock after selling 463 shares during the period. Greystone Managed Investments Inc.’s holdings in The Priceline Group were worth $9,416,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in PCLN. Xact Kapitalforvaltning AB acquired a new stake in The Priceline Group during the third quarter valued at approximately $11,946,000. Sawtooth Solutions LLC increased its stake in The Priceline Group by 9.9% in the third quarter. Sawtooth Solutions LLC now owns 422 shares of the business services provider’s stock valued at $621,000 after buying an additional 38 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in The Priceline Group during the third quarter valued at approximately $14,994,000. D.A. Davidson & CO. increased its stake in The Priceline Group by 4.1% in the third quarter. D.A. Davidson & CO. now owns 6,379 shares of the business services provider’s stock valued at $9,380,000 after buying an additional 250 shares during the period. Finally, First Bank & Trust purchased a new position in shares of The Priceline Group during the fourth quarter valued at about $108,000. Hedge funds and other institutional investors own 96.75% of the company’s stock.

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

The Priceline Group Inc. (NASDAQ:PCLN) traded up 1.9517% during mid-day trading on Monday, hitting $1837.7922. 100,582 shares of the stock were exchanged. The company has a 50-day moving average price of $1,853.15 and a 200-day moving average price of $1,693.08. The Priceline Group Inc. has a one year low of $1,148.06 and a one year high of $1,927.13. The company has a market cap of $90.31 billion, a P/E ratio of 41.4889 and a beta of 1.41.

The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings data on Tuesday, May 9th. The business services provider reported $9.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.83 by $1.05. The Priceline Group had a net margin of 20.12% and a return on equity of 33.94%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the firm posted $10.54 EPS. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, analysts predict that The Priceline Group Inc. will post $73.68 earnings per share for the current fiscal year.

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Several brokerages have issued reports on PCLN. MKM Partners reissued a “buy” rating and issued a $2,050.00 price objective (up from $2,030.00) on shares of The Priceline Group in a research note on Wednesday, May 17th. Piper Jaffray Companies upped their price target on shares of The Priceline Group from $1,700.00 to $1,800.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 28th. Credit Suisse Group upped their price target on shares of The Priceline Group from $1,925.00 to $2,050.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 2nd. Needham & Company LLC reissued a “buy” rating and issued a $2,200.00 price objective on shares of The Priceline Group in a research note on Wednesday, May 10th. Finally, Deutsche Bank AG increased their price objective on shares of The Priceline Group from $1,725.00 to $2,000.00 and gave the company a “hold” rating in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $1,928.36.

In other news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $1,743.00, for a total transaction of $212,646.00. Following the completion of the sale, the chief executive officer now owns 6,289 shares of the company’s stock, valued at approximately $10,961,727. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jan L. Docter sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the sale, the director now directly owns 346 shares of the company’s stock, valued at approximately $642,753.82. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

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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