CCM Investment Advisers LLC boosted its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,015 shares of the business services provider’s stock after buying an additional 90 shares during the period. CCM Investment Advisers LLC’s holdings in The Priceline Group were worth $9,380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. increased its position in The Priceline Group by 2.1% in the second quarter. Wedbush Securities Inc. now owns 1,126 shares of the business services provider’s stock valued at $2,106,000 after buying an additional 23 shares in the last quarter. IFC Holdings Incorporated FL purchased a new position in The Priceline Group during the second quarter valued at about $236,000. Sigma Planning Corp increased its position in The Priceline Group by 9.6% in the second quarter. Sigma Planning Corp now owns 171 shares of the business services provider’s stock valued at $320,000 after buying an additional 15 shares in the last quarter. BTC Capital Management Inc. increased its position in The Priceline Group by 1.1% in the second quarter. BTC Capital Management Inc. now owns 799 shares of the business services provider’s stock valued at $1,494,000 after buying an additional 9 shares in the last quarter. Finally, First Trust Advisors LP increased its position in The Priceline Group by 24.3% in the second quarter. First Trust Advisors LP now owns 12,709 shares of the business services provider’s stock valued at $23,772,000 after buying an additional 2,484 shares in the last quarter. 95.22% of the stock is owned by institutional investors.

Shares of The Priceline Group Inc. (PCLN) opened at 1813.02 on Thursday. The stock has a market capitalization of $88.94 billion, a price-to-earnings ratio of 38.51 and a beta of 1.42. The stock’s 50 day moving average price is $1,939.96 and its 200 day moving average price is $1,825.78. The Priceline Group Inc. has a 12 month low of $1,402.67 and a 12 month high of $2,067.99.

The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS 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 quarter in the previous year, the firm posted $13.93 EPS. The firm’s revenue was up 18.3% compared to the same quarter last year. Analysts expect that The Priceline Group Inc. will post $74.77 EPS for the current year.

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Several research firms have recently issued reports on PCLN. SunTrust Banks, Inc. began coverage on The Priceline Group in a research note on Tuesday, August 15th. They issued a “buy” rating and a $2,200.00 price objective for the company. MKM Partners reaffirmed a “buy” rating and issued a $2,225.00 price objective (up previously from $2,050.00) on shares of The Priceline Group in a research note on Monday, August 14th. UBS AG reaffirmed a “buy” rating and issued a $2,100.00 price objective on shares of The Priceline Group in a research note on Thursday, August 10th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $2,200.00 target price (up from $2,150.00) on shares of The Priceline Group in a report on Thursday, August 10th. Finally, Raymond James Financial, Inc. reiterated a “buy” 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 assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $1,924.32.

In other The Priceline Group news, Director Jan L. Docter sold 2,500 shares of The Priceline Group stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total transaction of $4,689,750.00. Following the completion of the sale, the director now owns 320 shares of the company’s stock, valued at approximately $600,288. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction dated 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 sale, the chief executive officer now directly owns 6,044 shares of the company’s stock, valued at approximately $10,963,816. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,367 shares of company stock valued at $8,166,685. 0.42% of the stock is currently owned by insiders.

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

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