Light Street Capital Management LLC Has $48.63 Million Holdings in The Priceline Group Inc. (PCLN)
Light Street Capital Management LLC boosted its holdings in The Priceline Group Inc. (NASDAQ:PCLN) by 23.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,000 shares of the business services provider’s stock after buying an additional 5,000 shares during the period. The Priceline Group makes up about 3.4% of Light Street Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Light Street Capital Management LLC owned about 0.05% of The Priceline Group worth $48,634,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in The Priceline Group during the second quarter worth $101,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of The Priceline Group during the 2nd quarter valued at about $105,000. Assetmark Inc. boosted its position in shares of The Priceline Group by 12.5% during the 1st quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 7 shares in the last quarter. Capital Advisors Ltd. LLC bought a new stake in The Priceline Group in the second quarter valued at about $112,000. Finally, Proficio Capital Partners LLC increased its stake in The Priceline Group by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 16 shares during the period. 94.45% of the stock is currently owned by institutional investors.
Several brokerages recently commented on PCLN. UBS AG reaffirmed a “buy” rating and issued a $2,100.00 price target on shares of The Priceline Group in a research note on Thursday, August 10th. Morgan Stanley reiterated an “overweight” rating and issued a $2,100.00 price objective (up previously from $2,050.00) on shares of The Priceline Group in a research report on Monday. Piper Jaffray Companies reissued an “overweight” rating and issued a $110.00 price objective (down previously from $2,150.00) on shares of The Priceline Group in a research note on Friday, July 28th. Barclays PLC restated an “overweight” rating on shares of The Priceline Group in a report on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and set a $2,200.00 target price (up previously from $2,150.00) on shares of The Priceline Group in a report on Thursday, August 10th. One equities research 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 company. The Priceline Group currently has an average rating of “Buy” and an average price target of $1,942.71.
In related news, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $1,845.97, for a total transaction of $225,208.34. Following the sale, the chief executive officer now directly owns 5,677 shares in the company, valued at approximately $10,479,571.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jan L. Docter sold 2,500 shares of the firm’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 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. Insiders have sold 2,867 shares of company stock valued at $5,384,080 in the last quarter. Company insiders own 0.24% of the company’s stock.
The Priceline Group Inc. (PCLN) traded up 1.78% on Monday, hitting $1863.45. 210,256 shares of the stock traded hands. The Priceline Group Inc. has a 52 week low of $1,422.19 and a 52 week high of $2,067.99. The firm has a market capitalization of $91.42 billion, a PE ratio of 39.58 and a beta of 1.47. The stock has a 50 day moving average of $1,873.07 and a 200 day moving average of $1,851.42.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating the 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 business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the business earned $13.93 earnings per share. The Priceline Group’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities research analysts anticipate that The Priceline Group Inc. will post $74.70 earnings per share for the current year.
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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