Harbor Spring Capital LLC Holds Position in The Priceline Group Inc. (PCLN)
Harbor Spring Capital LLC held its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 42,000 shares of the business services provider’s stock at the close of the second quarter. The Priceline Group comprises approximately 9.5% of Harbor Spring Capital LLC’s investment portfolio, making the stock its 3rd largest position. Harbor Spring Capital LLC owned 0.09% of The Priceline Group worth $78,562,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Harvest Fund Management Co. Ltd acquired a new position in shares of The Priceline Group in the second quarter worth $101,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of The Priceline Group in the second quarter valued at $105,000. Assetmark Inc. lifted its position in shares of The Priceline Group by 12.5% in the first 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 purchased a new stake in shares of The Priceline Group in the second quarter valued at $112,000. Finally, Proficio Capital Partners LLC lifted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.
A number of analysts recently commented on PCLN shares. Macquarie lifted their price objective on 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. 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. Royal Bank Of Canada upped their target price on shares of The Priceline Group from $2,000.00 to $2,050.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Wells Fargo & Company restated a “hold” rating and issued a $1,850.00 target price on shares of The Priceline Group in a report on Wednesday, August 9th. Finally, Barclays PLC reaffirmed an “overweight” rating 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 given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The Priceline Group presently has a consensus rating of “Buy” and an average target price of $1,942.71.
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 transaction of $237,835.34. Following the completion of the sale, the chief executive officer now directly owns 5,922 shares in the company, valued at $11,544,761.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the director now owns 320 shares of the company’s stock, valued at $600,288. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,867 shares of company stock worth $5,384,080. Corporate insiders own 0.24% of the company’s stock.
The Priceline Group Inc. (NASDAQ:PCLN) traded up 0.46% on Tuesday, hitting $1865.97. 81,231 shares of the stock were exchanged. The Priceline Group Inc. has a one year low of $1,422.19 and a one year high of $2,067.99. The company’s 50 day moving average price is $1,837.65 and its 200-day moving average price is $1,857.05. The company has a market cap of $91.54 billion, a P/E ratio of 39.63 and a beta of 1.47.
The Priceline Group (NASDAQ:PCLN) last posted its 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 during 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 company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the company earned $13.93 EPS. Equities research analysts predict that The Priceline Group Inc. will post $74.70 EPS for the current fiscal year.
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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