Priceline Group Inc (PCLN) Stake Raised by Westpac Banking Corp
Westpac Banking Corp grew its stake in shares of Priceline Group Inc (NASDAQ:PCLN) by 65.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,431 shares of the business services provider’s stock after purchasing an additional 4,145 shares during the quarter. Westpac Banking Corp’s holdings in Priceline Group were worth $18,126,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D purchased a new position in shares of Priceline Group in the third quarter valued at $36,616,000. Equitec Proprietary Markets LLC purchased a new position in shares of Priceline Group in the third quarter valued at $549,000. Troy Asset Management Ltd purchased a new position in shares of Priceline Group in the third quarter valued at $3,295,000. Huntington National Bank grew its holdings in shares of Priceline Group by 14.4% in the third quarter. Huntington National Bank now owns 13,761 shares of the business services provider’s stock valued at $25,194,000 after purchasing an additional 1,734 shares in the last quarter. Finally, River & Mercantile Asset Management LLP grew its holdings in shares of Priceline Group by 5.0% in the third quarter. River & Mercantile Asset Management LLP now owns 2,096 shares of the business services provider’s stock valued at $3,836,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.
Shares of Priceline Group Inc (NASDAQ:PCLN) opened at $1,949.90 on Thursday. The stock has a market cap of $95,660.00, a price-to-earnings ratio of 27.32, a PEG ratio of 1.43 and a beta of 1.39. Priceline Group Inc has a one year low of $1,528.01 and a one year high of $2,067.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.52 and a current ratio of 2.52.
PCLN has been the subject of a number of recent research reports. Bank of America reissued a “buy” rating and issued a $2,150.00 target price on shares of Priceline Group in a report on Tuesday, September 26th. Morgan Stanley reissued an “overweight” rating and issued a $2,100.00 target price (up from $2,050.00) on shares of Priceline Group in a report on Monday, October 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $2,200.00 price objective on shares of Priceline Group in a research note on Wednesday, October 4th. Barclays reaffirmed a “buy” rating and set a $2,150.00 price objective on shares of Priceline Group in a research note on Wednesday, October 11th. Finally, Deutsche Bank reaffirmed a “hold” rating and set a $2,050.00 price objective on shares of Priceline Group in a research note on Tuesday, October 24th. Eleven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Priceline Group currently has a consensus rating of “Buy” and a consensus target price of $2,010.80.
In other news, CEO Gillian Tans sold 123 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $1,715.78, for a total transaction of $211,040.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jan L. Docter sold 1,200 shares of Priceline Group stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the completion of the sale, the director now owns 142 shares of the company’s stock, valued at $250,561.84. The disclosure for this sale can be found here. Insiders have sold 1,445 shares of company stock valued at $2,544,764 over the last three months. Insiders own 0.24% of the company’s stock.
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About 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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