BB&T Securities LLC Boosts Position in The Priceline Group Inc. (PCLN)
BB&T Securities LLC increased its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 36.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,207 shares of the business services provider’s stock after buying an additional 1,674 shares during the period. BB&T Securities LLC’s holdings in The Priceline Group were worth $11,610,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC raised its position in The Priceline Group by 210,283.2% in the second quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock valued at $523,000 after buying an additional 977,817 shares during the period. Renaissance Technologies LLC bought a new position in The Priceline Group during the first quarter valued at approximately $358,128,000. C WorldWide Group Holding A S bought a new position in The Priceline Group during the first quarter valued at approximately $189,324,000. Vanguard Group Inc. raised its position in The Priceline Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 3,204,680 shares of the business services provider’s stock valued at $5,704,234,000 after buying an additional 93,992 shares during the period. Finally, Schroder Investment Management Group raised its position in The Priceline Group by 689.5% in the first quarter. Schroder Investment Management Group now owns 85,556 shares of the business services provider’s stock valued at $153,077,000 after buying an additional 74,719 shares during the period. 94.52% of the stock is currently owned by institutional investors.
The Priceline Group Inc. (PCLN) opened at 1789.91 on Tuesday. The Priceline Group Inc. has a one year low of $1,402.67 and a one year high of $2,067.99. The company has a market cap of $87.81 billion, a PE ratio of 38.02 and a beta of 1.42. The firm has a 50-day moving average of $1,936.36 and a 200-day moving average of $1,827.19.
The Priceline Group (NASDAQ:PCLN) last released its earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating the consensus estimate of $14.25 by $0.89. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the firm earned $13.93 EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts predict that The Priceline Group Inc. will post $74.77 EPS for the current year.
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Several research analysts have commented on PCLN shares. BidaskClub raised The Priceline Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Goldman Sachs Group, Inc. (The) raised their target price on The Priceline Group from $1,750.00 to $1,850.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. J P Morgan Chase & Co raised their target price on The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a research note on Wednesday, May 10th. Morgan Stanley raised their target price on The Priceline Group from $1,950.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG raised their target price 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. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The Priceline Group presently has an average rating of “Buy” and a consensus target price of $1,924.32.
In related news, Director Jan L. Docter sold 2,500 shares of The Priceline Group stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total transaction of $4,689,750.00. Following the sale, the director now directly owns 320 shares of the company’s stock, valued at approximately $600,288. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the sale, the chief executive officer now directly owns 5,922 shares in the company, valued at $11,544,761.34. The disclosure for this sale can be found here. Insiders have sold a total of 2,867 shares of company stock worth $5,380,180 over the last ninety days. 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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