Investors Sell Shares of The Priceline Group Inc. (PCLN) on Strength Following Insider Selling
Traders sold shares of The Priceline Group Inc. (NASDAQ:PCLN) on strength during trading on Wednesday after an insider sold shares in the company. $152.93 million flowed into the stock on the tick-up and $192.85 million flowed out of the stock on the tick-down, for a money net flow of $39.92 million out of the stock. Of all companies tracked, The Priceline Group had the 0th highest net out-flow for the day. The Priceline Group traded up $7.34 for the day and closed at $1,941.87Specifically, 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 value of $4,689,750.00. Following the transaction, the director now directly owns 320 shares in the company, valued at approximately $600,288. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $1,845.97, for a total transaction of $225,208.34. Following the completion of the transaction, the chief executive officer now owns 5,677 shares in the company, valued at $10,479,571.69. The disclosure for this sale can be found here. Insiders sold a total of 2,867 shares of company stock worth $5,382,925 over the last 90 days. Insiders own 0.24% of the company’s stock.
A number of equities analysts have commented on the stock. Barclays PLC restated a “buy” rating and issued a $2,150.00 target price on shares of The Priceline Group in a research note on Wednesday, October 11th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $2,200.00 price objective on shares of The Priceline Group in a research note on Wednesday, October 4th. Morgan Stanley reiterated an “overweight” rating and set a $2,100.00 price objective (up from $2,050.00) on shares of The Priceline Group in a research note on Monday, October 2nd. Bank of America Corporation reiterated a “buy” rating and set a $2,150.00 price objective on shares of The Priceline Group in a research note on Tuesday, September 26th. Finally, UBS AG reiterated an “overweight” rating on shares of The Priceline Group in a research note on Thursday, August 24th. One 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 given a strong buy rating to the company. The Priceline Group currently has an average rating of “Buy” and an average target price of $1,961.00.
The firm has a market capitalization of $95.27 billion, a PE ratio of 41.24 and a beta of 1.47. The stock has a 50-day moving average of $1,870.66 and a 200 day moving average of $1,869.26.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings results 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 net margin of 20.51% and a return on equity of 33.10%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the firm earned $13.93 EPS. The Priceline Group’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities analysts forecast that The Priceline Group Inc. will post $74.79 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new stake in The Priceline Group in the 2nd quarter valued at $101,000. Shine Investment Advisory Services Inc. purchased a new stake in The Priceline Group in the 2nd quarter valued at $105,000. Capital Advisors Ltd. LLC purchased a new stake in The Priceline Group in the 2nd quarter valued at $112,000. Proficio Capital Partners LLC raised its position in The Priceline Group by 29.6% in 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 last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in The Priceline Group in the 2nd quarter valued at $133,000. Hedge funds and other institutional investors own 94.39% 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.
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