Horseman Capital Management Ltd Takes Position in The Priceline Group Inc. (PCLN)
Horseman Capital Management Ltd purchased a new position in The Priceline Group Inc. (NASDAQ:PCLN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,000 shares of the business services provider’s stock, valued at approximately $1,871,000.
Several other institutional investors have also made changes to their positions in the business. Shine Investment Advisory Services Inc. bought a new position in shares of The Priceline Group during the second quarter worth about $105,000. Capital Advisors Ltd. LLC bought a new position in shares of The Priceline Group during the second quarter worth about $112,000. Webster Bank N. A. grew its holdings in shares of The Priceline Group by 24.0% during the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock worth $110,000 after buying an additional 12 shares in the last quarter. Assetmark Inc. grew its holdings in shares of The Priceline Group by 12.5% during the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock worth $112,000 after buying an additional 7 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of The Priceline Group during the first quarter worth about $123,000. Institutional investors own 94.53% of the company’s stock.
In other news, Director Jan L. Docter sold 2,500 shares of the firm’s 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 transaction, the director now directly owns 320 shares of the company’s stock, valued at $600,288. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction dated 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 transaction, 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 2,867 shares of company stock worth $5,380,180 over the last ninety days. Insiders own 0.42% of the company’s stock.
The Priceline Group Inc. (NASDAQ PCLN) opened at 1845.37 on Friday. The firm has a market capitalization of $90.53 billion, a P/E ratio of 39.19 and a beta of 1.47. The firm’s 50-day moving average price is $1,909.48 and its 200 day moving average price is $1,840.09. The Priceline Group Inc. has a one year low of $1,402.67 and a one year high of $2,067.99.
The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period last year, the firm earned $13.93 earnings per share. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities analysts anticipate that The Priceline Group Inc. will post $74.70 earnings per share for the current fiscal year.
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PCLN has been the subject of a number of research reports. Morgan Stanley increased their price objective on The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Cowen and Company reiterated an “outperform” rating and set a $2,000.00 price objective on shares of The Priceline Group in a report on Tuesday, May 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $2,300.00 price objective (up from $2,250.00) on shares of The Priceline Group in a report on Thursday, August 10th. Vetr upgraded The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 price objective for the company in a report on Wednesday, May 17th. Finally, Benchmark Co. reiterated a “buy” rating and set a $2,050.00 price objective (up from $1,900.00) on shares of The Priceline Group in a report on Sunday, May 14th. 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 stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,924.32.
The Priceline Group 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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