Ariel Capital Advisors LLC boosted its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 2,152 shares of the company’s stock after buying an additional 73 shares during the period. The Priceline Group accounts for 1.7% of Ariel Capital Advisors LLC’s holdings, making the stock its 20th largest position. Ariel Capital Advisors LLC’s holdings in The Priceline Group were worth $2,687,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PCLN. BlueMountain Capital Management LLC boosted its stake in The Priceline Group by 65.3% in the first quarter. BlueMountain Capital Management LLC now owns 81 shares of the company’s stock worth $104,000 after buying an additional 32 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in The Priceline Group by 18.1% in the second quarter. Integrated Investment Consultants LLC now owns 98 shares of the company’s stock worth $122,000 after buying an additional 15 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in The Priceline Group by 17.1% in the second quarter. Cornerstone Advisors Inc. now owns 137 shares of the company’s stock worth $171,000 after buying an additional 20 shares in the last quarter. Simonbaker & Partners LLC purchased a new stake in The Priceline Group during the first quarter worth $215,000. Finally, Bath Savings Trust Co purchased a new stake in The Priceline Group during the second quarter worth $210,000. Institutional investors and hedge funds own 93.99% of the company’s stock.
Shares of The Priceline Group Inc. (NASDAQ:PCLN) traded down 0.10% on Friday, hitting $1471.49. 436,073 shares of the stock traded hands. The Priceline Group Inc. has a 12 month low of $954.02 and a 12 month high of $1,481.78. The firm’s 50 day moving average is $1,433.48 and its 200-day moving average is $1,342.68. The company has a market cap of $72.73 billion, a PE ratio of 27.99 and a beta of 1.69.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings results on Thursday, August 4th. The company reported $13.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $12.69 by $1.24. The Priceline Group had a return on equity of 32.93% and a net margin of 27.08%. The business earned $2.55 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the business earned $12.45 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts predict that The Priceline Group Inc. will post $68.57 earnings per share for the current year.
A number of analysts have recently weighed in on the stock. Cantor Fitzgerald restated a “buy” rating on shares of The Priceline Group in a report on Saturday, June 4th. Morgan Stanley raised shares of The Priceline Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $1,330.00 to $1,525.00 in a research report on Thursday, June 30th. Deutsche Bank AG reaffirmed a “hold” rating on shares of The Priceline Group in a research report on Sunday, July 10th. Vetr lowered shares of The Priceline Group from a “strong-buy” rating to a “buy” rating and set a $1,362.34 price objective for the company. in a research report on Wednesday, June 29th. Finally, Zacks Investment Research lowered shares of The Priceline Group from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Five research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $1,525.14.
In other news, CEO Jeffery H. Boyd sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $1,353.90, for a total transaction of $4,061,700.00. Following the completion of the sale, the chief executive officer now owns 94,488 shares in the company, valued at $127,927,303.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gillian Tans sold 131 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $1,327.89, for a total value of $173,953.59. Following the sale, the chief executive officer now owns 6,049 shares of the company’s stock, valued at approximately $8,032,406.61. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
About The Priceline Group
The Priceline Group Inc is a provider of travel and restaurant 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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