Genesee Valley Trust Co. Sells 138 Shares of The Priceline Group Inc. (PCLN)
Genesee Valley Trust Co. cut its position in The Priceline Group Inc. (NASDAQ:PCLN) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,091 shares of the business services provider’s stock after selling 138 shares during the period. The Priceline Group comprises 0.9% of Genesee Valley Trust Co.’s portfolio, making the stock its 25th largest position. Genesee Valley Trust Co.’s holdings in The Priceline Group were worth $2,041,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp acquired a new position in shares of The Priceline Group during the first quarter worth approximately $34,546,000. Toronto Dominion Bank increased its position in shares of The Priceline Group by 64.9% in the first quarter. Toronto Dominion Bank now owns 14,383 shares of the business services provider’s stock worth $25,599,000 after buying an additional 5,660 shares during the period. Covey Capital Advisors LLC acquired a new position in shares of The Priceline Group during the first quarter worth approximately $3,515,000. Parallel Advisors LLC increased its position in shares of The Priceline Group by 98.1% in the first quarter. Parallel Advisors LLC now owns 204 shares of the business services provider’s stock worth $383,000 after buying an additional 101 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of The Priceline Group by 4.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 148,329 shares of the business services provider’s stock worth $264,022,000 after buying an additional 6,718 shares during the period. 94.52% of the stock is owned by institutional investors.
Shares of The Priceline Group Inc. (NASDAQ PCLN) opened at 1850.82 on Friday. The stock has a market capitalization of $90.80 billion, a price-to-earnings ratio of 39.31 and a beta of 1.48. The Priceline Group Inc. has a 1-year low of $1,402.67 and a 1-year high of $2,067.99. The stock’s 50 day moving average is $1,921.27 and its 200 day moving average is $1,834.39.
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 the Thomson Reuters’ consensus estimate of $14.25 by $0.89. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $13.93 earnings per share. On average, equities analysts forecast that The Priceline Group Inc. will post $74.77 EPS for the current year.
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A number of brokerages have recently issued reports on PCLN. Benchmark Co. reaffirmed a “buy” rating and set a $2,050.00 price target (up from $1,900.00) on shares of The Priceline Group in a research report on Sunday, May 14th. Deutsche Bank AG upped their price target on The Priceline Group from $1,725.00 to $2,000.00 and gave the stock a “hold” rating in a research report on Monday, May 8th. UBS AG reaffirmed an “overweight” rating on shares of The Priceline Group in a research report on Thursday, August 24th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $2,070.00 price target (up from $1,915.00) on shares of The Priceline Group in a research report on Monday, May 8th. Finally, Goldman Sachs Group, Inc. (The) upped their price target on The Priceline Group from $1,750.00 to $1,850.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The Priceline Group currently has an average rating of “Buy” and a consensus target price of $1,924.32.
In other news, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction dated Thursday, June 15th. The shares were 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 owns 6,044 shares of the company’s stock, valued at $10,963,816. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jan L. Docter sold 2,500 shares of The Priceline Group stock in a transaction dated 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 completion of the sale, the director now directly owns 320 shares in the company, valued at approximately $600,288. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,867 shares of company stock worth $5,380,180. 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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