The Priceline Group Inc. (PCLN) Shares Bought by Capital Research Global Investors
Capital Research Global Investors lifted its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,622,668 shares of the business services provider’s stock after acquiring an additional 108,187 shares during the quarter. The Priceline Group comprises about 1.0% of Capital Research Global Investors’ investment portfolio, making the stock its 26th biggest holding. Capital Research Global Investors owned 3.31% of The Priceline Group worth $3,035,233,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd bought a new position in The Priceline Group during the 2nd quarter valued at $101,000. Shine Investment Advisory Services Inc. acquired a new position in shares of The Priceline Group during the 2nd quarter valued at $105,000. Assetmark Inc. increased 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 purchasing an additional 7 shares during the period. Capital Advisors Ltd. LLC acquired a new position in shares of The Priceline Group during the 2nd quarter valued at $112,000. Finally, Proficio Capital Partners LLC increased its position in shares of The Priceline Group by 29.6% during the 1st quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.
In other The Priceline Group news, Director Jan L. Docter sold 2,500 shares of the stock in a transaction 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 in the company, valued at approximately $600,288. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gillian Tans sold 122 shares of the stock in a transaction on Friday, July 14th. The stock was 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 owns 5,922 shares in the company, valued at approximately $11,544,761.34. The disclosure for this sale can be found here. Insiders sold a total of 2,867 shares of company stock valued at $5,384,080 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded up 2.02% during midday trading on Monday, hitting $1867.77. The company had a trading volume of 192,636 shares. The firm’s 50-day moving average is $1,873.07 and its 200-day moving average is $1,851.42. The Priceline Group Inc. has a 12-month low of $1,422.19 and a 12-month high of $2,067.99. The firm has a market capitalization of $91.63 billion, a P/E ratio of 39.67 and a beta of 1.47.
The Priceline Group (NASDAQ:PCLN) last announced its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $14.25 by $0.89. The company 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 firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company earned $13.93 earnings per share. On average, analysts predict that The Priceline Group Inc. will post $74.70 earnings per share for the current fiscal year.
PCLN has been the subject of several research reports. Royal Bank Of Canada raised their target price on The Priceline Group from $2,000.00 to $2,050.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Macquarie boosted their price target on shares of The Priceline Group from $2,000.00 to $2,200.00 and gave the stock a “positive” rating in a research report on Wednesday, August 9th. Barclays PLC reiterated an “overweight” rating on shares of The Priceline Group in a research report on Wednesday, August 9th. Raymond James Financial, Inc. reissued a “buy” rating on shares of The Priceline Group in a report on Wednesday, August 9th. Finally, UBS AG reissued a “buy” rating and issued a $2,100.00 price target 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 assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $1,942.71.
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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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