Investors Buy The Priceline Group Inc. (PCLN) on Weakness
Investors bought shares of The Priceline Group Inc. (NASDAQ:PCLN) on weakness during trading on Monday. $328.94 million flowed into the stock on the tick-up and $255.32 million flowed out of the stock on the tick-down, for a money net flow of $73.62 million into the stock. Of all equities tracked, The Priceline Group had the 12th highest net in-flow for the day. The Priceline Group traded down ($32.58) for the day and closed at $1,829.55
A number of brokerages have recently commented on PCLN. UBS AG reissued a “buy” rating and issued a $2,100.00 target price on shares of The Priceline Group in a research note on Thursday, August 10th. Piper Jaffray Companies reissued an “overweight” rating and issued a $110.00 target price (down previously from $2,150.00) on shares of The Priceline Group in a research note on Friday, July 28th. Barclays PLC reissued an “overweight” rating on shares of The Priceline Group in a research note on Wednesday, August 9th. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $2,200.00 target price (up previously from $2,150.00) on shares of The Priceline Group in a research note on Thursday, August 10th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $2,075.00 target price (up previously from $1,950.00) on shares of The Priceline Group in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The Priceline Group presently has a consensus rating of “Buy” and an average price target of $1,924.32.
The firm has a market cap of $89.76 billion, a P/E ratio of 38.86 and a beta of 1.47. The stock has a 50-day moving average price of $1,873.07 and a 200-day moving average price of $1,851.42.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $14.25 by $0.89. The firm had revenue of $3.02 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $13.93 earnings per share. Analysts anticipate that The Priceline Group Inc. will post $74.70 earnings per share for the current year.
In related news, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the completion of the sale, the chief executive officer now owns 5,922 shares in the company, valued at $11,544,761.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jan L. Docter sold 2,500 shares of the company’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 of the company’s stock, valued at approximately $600,288. The disclosure for this sale can be found here. Insiders have sold 2,867 shares of company stock valued at $5,384,080 in the last quarter. 0.42% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd bought a new stake in The Priceline Group during the second quarter worth $101,000. Shine Investment Advisory Services Inc. bought a new stake in The Priceline Group during the second quarter worth $105,000. Capital Advisors Ltd. LLC bought a new stake in The Priceline Group during the second quarter worth $112,000. Assetmark Inc. grew its holdings in 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, Proficio Capital Partners LLC grew its holdings in The Priceline Group by 29.6% during the first quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock worth $129,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.
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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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