According to Zacks, “Priceline.com is one of the leading online travel companies in the world. The company reported strong second quarter results. Both agency and merchant businesses showed strong momentum. The secular growth trend in the online travel booking market, Priceline’s strong position in international markets, growth opportunities in the domestic market, good execution, prudent marketing strategy and strong financial position are positives. At the same time, weaker ADRs, macro headwinds, increasing advertising spend and occupancy tax-related litigation remain overhangs.”
Other equities analysts also recently issued reports about the stock. Cantor Fitzgerald reaffirmed a buy rating and set a $1,510.00 price objective (down from $1,525.00) on shares of The Priceline Group in a report on Tuesday, July 5th. Tigress Financial reaffirmed a buy rating on shares of The Priceline Group in a report on Thursday, June 30th. Piper Jaffray Cos. reaffirmed a buy rating and set a $1,500.00 price objective on shares of The Priceline Group in a report on Tuesday, June 21st. Vetr downgraded shares of The Priceline Group from a strong-buy rating to a buy rating and set a $1,362.34 price target on the stock. in a report on Wednesday, June 29th. Finally, Jefferies Group reissued a buy rating and issued a $1,660.00 price target on shares of The Priceline Group in a report on Monday, June 27th. Six equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $1,538.19.
Shares of The Priceline Group (NASDAQ:PCLN) opened at 1475.18 on Wednesday. The Priceline Group has a 52 week low of $954.02 and a 52 week high of $1,501.79. The firm’s 50-day moving average is $1,446.77 and its 200-day moving average is $1,350.64. The firm has a market capitalization of $72.91 billion, a P/E ratio of 28.06 and a beta of 1.62.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data on Thursday, August 4th. The company reported $13.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $12.69 by $1.24. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.58 billion. The Priceline Group had a net margin of 27.08% and a return on equity of 32.93%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $12.45 EPS. Equities analysts anticipate that The Priceline Group will post $68.57 EPS for the current year.
In other news, CEO Gillian Tans sold 131 shares of the 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 transaction of $173,953.59. Following the completion of the sale, the chief executive officer now owns 6,049 shares of the company’s stock, valued at $8,032,406.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffery H. Boyd sold 3,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 94,488 shares of the company’s stock, 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.
Several hedge funds have recently added to or reduced their stakes in the stock. BlueMountain Capital Management LLC raised 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 during the period. Global X Management Co. LLC raised its stake in The Priceline Group by 416.7% in the second quarter. Global X Management Co. LLC now owns 93 shares of the company’s stock worth $116,000 after buying an additional 75 shares during the period. Integrated Investment Consultants LLC raised 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 during the period. Quadrant Capital Group LLC raised its stake in The Priceline Group by 24.3% in the second quarter. Quadrant Capital Group LLC now owns 128 shares of the company’s stock worth $151,000 after buying an additional 25 shares during the period. Finally, Cupps Capital Management LLC bought a new stake in The Priceline Group during the second quarter worth $157,000. 93.99% of the stock is owned by hedge funds and other institutional investors.
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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