CG Asset Management LLC held its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 472 shares of the company’s stock at the end of the second quarter. CG Asset Management LLC’s holdings in The Priceline Group were worth $589,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. BlueMountain Capital Management LLC raised its position 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 during the last quarter. Integrated Investment Consultants LLC raised its position 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 during the last quarter. Cornerstone Advisors Inc. raised its position 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 during the last quarter. Bath Savings Trust Co purchased a new position in The Priceline Group during the second quarter worth about $210,000. Finally, Simonbaker & Partners LLC purchased a new position in The Priceline Group during the first quarter worth about $215,000. Institutional investors and hedge funds own 93.99% of the company’s stock.
The Priceline Group Inc. (NASDAQ:PCLN) traded up 0.15% during midday trading on Tuesday, reaching $1489.02. The company had a trading volume of 386,451 shares. The Priceline Group Inc. has a 52-week low of $954.02 and a 52-week high of $1,498.83. The company’s 50-day moving average is $1,437.57 and its 200 day moving average is $1,344.77. The company has a market cap of $73.60 billion, a PE ratio of 28.32 and a beta of 1.62.
The Priceline Group (NASDAQ:PCLN) last released its earnings results on Thursday, August 4th. The company reported $13.93 earnings per share for the quarter, beating the 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 firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the firm posted $12.45 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts forecast that The Priceline Group Inc. will post $68.57 EPS for the current year.
PCLN has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating on shares of The Priceline Group in a report on Sunday, August 28th. Vetr lowered The Priceline Group from a “hold” rating to a “sell” rating and set a $1,316.39 target price on the stock. in a report on Tuesday, June 7th. Jefferies Group reaffirmed a “buy” rating and set a $1,660.00 target price on shares of The Priceline Group in a report on Monday, July 25th. Deutsche Bank AG lifted their target price on The Priceline Group from $1,330.00 to $1,450.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, Zacks Investment Research raised The Priceline Group from a “hold” rating to a “buy” rating and set a $1,575.00 target price on the stock in a report on Thursday, August 11th. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $1,525.14.
In other The Priceline Group news, insider Glenn D. Fogel sold 1,000 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $1,434.75, for a total value of $1,434,750.00. Following the transaction, the insider now owns 25,131 shares of the company’s stock, valued at $36,056,702.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffery H. Boyd sold 3,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $1,353.90, for a total value of $4,061,700.00. Following the completion of the transaction, the chief executive officer now directly owns 94,488 shares in the company, valued at approximately $127,927,303.20. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.
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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