Bluestein R H & Co. Continues to Hold Stake in The Priceline Group Inc. (NASDAQ:PCLN)
Bluestein R H & Co. maintained its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150 shares of the business services provider’s stock at the end of the first quarter. Bluestein R H & Co.’s holdings in The Priceline Group were worth $267,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hartford Financial Management Inc. purchased a new stake in shares of The Priceline Group during the first quarter valued at about $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 valued at $110,000 after buying an additional 12 shares during the last quarter. 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 valued at $112,000 after buying an additional 7 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of The Priceline Group during the first quarter valued at about $123,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of The Priceline Group during the fourth quarter valued at about $118,000. 95.01% of the stock is owned by hedge funds and other institutional investors.
The Priceline Group Inc. (NASDAQ PCLN) traded up 0.31% on Tuesday, hitting $2049.00. 826,617 shares of the company were exchanged. The Priceline Group Inc. has a 52-week low of $1,392.44 and a 52-week high of $2,067.99. The stock has a market cap of $100.69 billion, a PE ratio of 46.26 and a beta of 1.42. The firm has a 50 day moving average of $1,937.58 and a 200-day moving average of $1,795.67.
The Priceline Group (NASDAQ:PCLN) last issued its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, beating analysts’ consensus estimates of $14.27 by $0.87. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a return on equity of 33.94% and a net margin of 20.12%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $13.93 EPS. On average, equities analysts expect that The Priceline Group Inc. will post $74.20 earnings per share for the current fiscal year.
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A number of brokerages have recently commented on PCLN. Cowen and Company raised their target price on shares of The Priceline Group from $1,850.00 to $2,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. UBS AG reaffirmed a “buy” rating and set a $2,100.00 target price (up from $1,870.00) on shares of The Priceline Group in a research report on Thursday, May 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,850.00 target price on shares of The Priceline Group in a research report on Monday, April 17th. Vetr raised shares of The Priceline Group from a “sell” rating to a “hold” rating and set a $1,875.00 price objective on the stock in a report on Thursday, May 11th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $110.00 price objective (down from $2,150.00) on shares of The Priceline Group in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $1,899.45.
In related news, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $1,814.00, for a total value of $221,308.00. Following the transaction, the chief executive officer now owns 6,044 shares in the company, valued at $10,963,816. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jan L. Docter sold 1,500 shares of the 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 completion of the transaction, the director now owns 346 shares in the company, valued at approximately $642,753.82. The disclosure for this sale can be found here. Insiders sold a total of 1,744 shares of company stock worth $3,245,648 in the last quarter. 0.42% of the stock is owned by corporate insiders.
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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