The Priceline Group Inc. (PCLN) Holdings Trimmed by Neuberger Berman Group LLC
Neuberger Berman Group LLC trimmed its holdings in The Priceline Group Inc. (NASDAQ:PCLN) by 13.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,843 shares of the business services provider’s stock after selling 2,870 shares during the quarter. Neuberger Berman Group LLC’s holdings in The Priceline Group were worth $33,376,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of PCLN. Waldron LP boosted its stake in The Priceline Group by 68.9% in the 1st quarter. Waldron LP now owns 412 shares of the business services provider’s stock worth $732,000 after purchasing an additional 168 shares during the period. First Manhattan Co. boosted its stake in The Priceline Group by 5.3% in the 1st quarter. First Manhattan Co. now owns 100 shares of the business services provider’s stock worth $147,000 after purchasing an additional 5 shares during the period. First Quadrant L P CA boosted its stake in The Priceline Group by 31.5% in the 1st quarter. First Quadrant L P CA now owns 263 shares of the business services provider’s stock worth $468,000 after purchasing an additional 63 shares during the period. Arrow Financial Corp boosted its stake in The Priceline Group by 114.8% in the 1st quarter. Arrow Financial Corp now owns 1,858 shares of the business services provider’s stock worth $3,307,000 after purchasing an additional 993 shares during the period. Finally, Greenleaf Trust bought a new position in The Priceline Group in the 1st quarter worth approximately $217,000. Institutional investors and hedge funds own 94.53% of the company’s stock.
In related news, Director Jan L. Docter sold 2,500 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the sale, the director now owns 320 shares in the company, valued at approximately $600,288. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction on Friday, July 14th. The shares were 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. Insiders sold a total of 2,867 shares of company stock worth $5,380,180 in the last quarter. Company insiders own 0.42% of the company’s stock.
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PCLN has been the subject of several recent analyst reports. BidaskClub upgraded The Priceline Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. 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 note on Wednesday, May 10th. J P Morgan Chase & Co upped their price target on The Priceline Group from $1,940.00 to $2,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 10th. Morgan Stanley upped their price target on The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Finally, 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 note on Monday, May 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The Priceline Group presently has a consensus rating of “Buy” and a consensus price target of $1,924.32.
The Priceline Group Inc. (PCLN) opened at 1850.82 on Tuesday. The company has a market cap of $90.80 billion, a P/E ratio of 39.31 and a beta of 1.47. The Priceline Group Inc. has a 12 month low of $1,402.67 and a 12 month high of $2,067.99. The firm has a 50-day moving average price of $1,921.27 and a 200 day moving average price of $1,834.39.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $14.25 by $0.89. The firm 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 33.10% and a net margin of 20.51%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $13.93 EPS. Equities research analysts predict that The Priceline Group Inc. will post $74.77 EPS for the current year.
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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