Concourse Capital Management LLC decreased its position in The Priceline Group Inc. (NASDAQ:PCLN) by 30.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,478 shares of the business services provider’s stock after selling 1,100 shares during the period. The Priceline Group makes up 2.6% of Concourse Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Concourse Capital Management LLC’s holdings in The Priceline Group were worth $4,411,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hartford Financial Management Inc. bought a new stake in shares of The Priceline Group during the first quarter worth $106,000. Webster Bank N. A. boosted 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 during the period. Assetmark Inc. boosted 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 during the period. Signature Estate & Investment Advisors LLC bought a new stake in shares of The Priceline Group during the first quarter worth $123,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of The Priceline Group during the fourth quarter worth $118,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

The Priceline Group Inc. (NASDAQ PCLN) traded up 0.33% during trading on Thursday, hitting $2027.98. The stock had a trading volume of 430,926 shares. The Priceline Group Inc. has a 12-month low of $1,336.03 and a 12-month high of $2,043.95. The stock’s 50 day moving average price is $1,920.50 and its 200 day moving average price is $1,790.59. The firm has a market cap of $99.66 billion, a P/E ratio of 45.79 and a beta of 1.42.

The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings results on Tuesday, May 9th. The business services provider reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.83 by $1.05. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.45 billion. The Priceline Group had a return on equity of 33.94% and a net margin of 20.12%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.54 EPS. On average, analysts anticipate that The Priceline Group Inc. will post $74.03 EPS for the current fiscal year.

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A number of research firms have commented on PCLN. Needham & Company LLC reiterated a “buy” rating on shares of The Priceline Group in a research note on Wednesday, June 21st. MKM Partners reiterated a “buy” rating and issued a $2,050.00 price target (up from $2,030.00) on shares of The Priceline Group in a research note on Wednesday, May 17th. Credit Suisse Group increased their price target on The Priceline Group from $1,925.00 to $2,050.00 and gave the company an “outperform” rating in a research note on Tuesday, May 2nd. Deutsche Bank AG increased their price target on 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. Finally, UBS AG reiterated a “buy” rating and issued a $2,100.00 price target (up from $1,870.00) on shares of The Priceline Group in a research note on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $1,890.83.

In related news, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 346 shares in the company, valued at approximately $642,753.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total value of $237,835.34. Following the completion of the sale, the chief executive officer now owns 5,922 shares in the company, valued at approximately $11,544,761.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,744 shares of company stock worth $3,245,648. 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.

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

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