Provident Investment Management Inc. decreased its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 3.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,343 shares of the business services provider’s stock after selling 569 shares during the quarter. The Priceline Group makes up 6.2% of Provident Investment Management Inc.’s holdings, making the stock its 2nd largest position. Provident Investment Management Inc.’s holdings in The Priceline Group were worth $34,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Shine Investment Advisory Services Inc. acquired a new position in The Priceline Group in the 2nd quarter worth about $105,000. Webster Bank N. A. raised its holdings in The Priceline Group by 24.0% in the 1st quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock worth $110,000 after purchasing an additional 12 shares during the period. Assetmark Inc. raised its holdings in The Priceline Group by 12.5% in the 1st quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock worth $112,000 after purchasing an additional 7 shares during the period. Capital Advisors Ltd. LLC acquired a new position in The Priceline Group in the 2nd quarter worth about $112,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in The Priceline Group in the 1st quarter worth about $123,000. Hedge funds and other institutional investors own 94.53% of the company’s stock.

In other The Priceline Group news, CEO Gillian Tans sold 122 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jan L. Docter sold 2,500 shares of the company’s 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 transaction, the director now directly owns 320 shares of the company’s stock, valued at $600,288. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,867 shares of company stock valued at $5,380,180. 0.42% of the stock is currently owned by corporate insiders.

The Priceline Group Inc. (PCLN) opened at 1868.86 on Tuesday. The stock has a market capitalization of $91.68 billion, a price-to-earnings ratio of 39.69 and a beta of 1.47. The company has a 50-day moving average price of $1,902.24 and a 200 day moving average price of $1,844.34. The Priceline Group Inc. has a 12 month low of $1,405.53 and a 12 month high of $2,067.99.

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 for the quarter, beating analysts’ consensus estimates of $14.25 by $0.89. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the company posted $13.93 EPS. Equities analysts predict that The Priceline Group Inc. will post $74.70 earnings per share for the current year.

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A number of equities analysts recently weighed in on PCLN shares. MKM Partners reaffirmed a “buy” rating and issued a $2,050.00 price target (up previously from $2,030.00) on shares of The Priceline Group in a report on Wednesday, May 17th. Vetr raised The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 price target for the company in a report on Wednesday, May 17th. Cowen and Company reaffirmed an “outperform” rating and issued a $2,000.00 price target on shares of The Priceline Group in a report on Tuesday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating on shares of The Priceline Group in a report on Wednesday, June 21st. Finally, BidaskClub raised The Priceline Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The Priceline Group has an average rating of “Buy” and a consensus target price of $1,924.32.

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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