ThornTree Capital Partners LP cut its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 39.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,131 shares of the business services provider’s stock after selling 5,255 shares during the quarter. The Priceline Group accounts for 7.1% of ThornTree Capital Partners LP’s portfolio, making the stock its 7th largest position. ThornTree Capital Partners LP’s holdings in The Priceline Group were worth $15,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. Well Done LLC lifted its stake in The Priceline Group by 1.2% during the second quarter. Well Done LLC now owns 175 shares of the business services provider’s stock valued at $327,000 after buying an additional 2 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in The Priceline Group by 0.5% during the second quarter. Pinnacle Associates Ltd. now owns 617 shares of the business services provider’s stock valued at $1,154,000 after buying an additional 3 shares in the last quarter. LS Investment Advisors LLC lifted its stake in The Priceline Group by 0.4% during the second quarter. LS Investment Advisors LLC now owns 906 shares of the business services provider’s stock valued at $1,695,000 after buying an additional 4 shares in the last quarter. First National Bank of Hutchinson lifted its stake in The Priceline Group by 1.0% during the second quarter. First National Bank of Hutchinson now owns 425 shares of the business services provider’s stock valued at $857,000 after buying an additional 4 shares in the last quarter. Finally, Hedeker Wealth LLC lifted its stake in The Priceline Group by 1.0% during the first quarter. Hedeker Wealth LLC now owns 511 shares of the business services provider’s stock valued at $909,000 after buying an additional 5 shares in the last quarter. 94.44% of the stock is owned by institutional investors.

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A number of research firms have commented on PCLN. UBS AG reaffirmed a “buy” rating and set a $2,100.00 price objective on shares of The Priceline Group in a research note on Thursday, August 10th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $110.00 price objective (down from $2,150.00) on shares of The Priceline Group in a research note on Friday, July 28th. Barclays PLC reaffirmed an “overweight” rating on shares of The Priceline Group in a research note on Wednesday, August 9th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $2,200.00 price objective (up from $2,150.00) on shares of The Priceline Group in a research note on Thursday, August 10th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $2,075.00 price objective (up from $1,950.00) on shares of The Priceline Group in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $1,924.32.

Shares of The Priceline Group Inc. (NASDAQ:PCLN) opened at 1843.20 on Monday. The company has a market cap of $90.43 billion, a PE ratio of 39.15 and a beta of 1.47. The firm’s 50-day moving average price is $1,882.74 and its 200-day moving average price is $1,847.92. The Priceline Group Inc. has a 12 month low of $1,422.19 and a 12 month high of $2,067.99.

The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $14.25 by $0.89. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.99 billion. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $13.93 EPS. Equities analysts predict that The Priceline Group Inc. will post $74.70 EPS for the current fiscal year.

In other The Priceline Group news, Director Jan L. Docter sold 2,500 shares of the business’s stock in a transaction that occurred on 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 owns 320 shares of the company’s stock, valued at approximately $600,288. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gillian Tans sold 123 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $1,880.38, for a total value of $231,286.74. Following the transaction, the chief executive officer now directly owns 5,799 shares in the company, valued at approximately $10,904,323.62. The disclosure for this sale can be found here. Insiders have sold a total of 2,745 shares of company stock worth $5,158,872 in the last ninety days. Insiders own 0.42% of the company’s stock.

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.

Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

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