Beese Fulmer Investment Management Inc. Boosts Stake in The Priceline Group Inc. (PCLN)

Beese Fulmer Investment Management Inc. boosted its position in The Priceline Group Inc. (NASDAQ:PCLN) by 27.2% during the second quarter, Holdings Channel reports. The fund owned 1,586 shares of the business services provider’s stock after buying an additional 339 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in The Priceline Group were worth $2,967,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PCLN. Capital Advisors Inc. OK increased its stake in shares of The Priceline Group by 4.1% in the first quarter. Capital Advisors Inc. OK now owns 6,556 shares of the business services provider’s stock valued at $11,669,000 after buying an additional 256 shares during the period. Pinnacle Bank bought a new stake in shares of The Priceline Group during the first quarter valued at about $178,000. Mackenzie Financial Corp bought a new stake in shares of The Priceline Group during the first quarter valued at about $34,546,000. Carderock Capital Management Inc. increased its stake in shares of The Priceline Group by 163.3% in the first quarter. Carderock Capital Management Inc. now owns 1,659 shares of the business services provider’s stock valued at $2,952,000 after buying an additional 1,029 shares during the period. Finally, Atria Investments LLC increased its stake in shares of The Priceline Group by 1.2% in the first quarter. Atria Investments LLC now owns 1,209 shares of the business services provider’s stock valued at $2,152,000 after buying an additional 14 shares during the period. 95.01% of the stock is currently owned by institutional investors.

Shares of The Priceline Group Inc. (NASDAQ PCLN) traded down 1.89% during trading on Thursday, hitting $1870.72. The stock had a trading volume of 386,046 shares. The Priceline Group Inc. has a 12 month low of $1,392.44 and a 12 month high of $2,067.99. The stock has a 50 day moving average of $1,951.68 and a 200 day moving average of $1,807.38. The company has a market cap of $91.77 billion, a PE ratio of 39.73 and a beta of 1.42. The Priceline Group also was the target of some unusual options trading on Tuesday. Investors bought 15,301 put options on the stock. This represents an increase of 209% compared to the average volume of 4,950 put options.

The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $14.25 by $0.89. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a return on equity of 34.28% and a net margin of 20.51%. The business’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $13.93 earnings per share. Equities analysts forecast that The Priceline Group Inc. will post $74.80 EPS for the current fiscal year.

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Several brokerages recently issued reports on PCLN. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $2,200.00 price target (up previously from $2,150.00) on shares of The Priceline Group in a report on Thursday. Raymond James Financial, Inc. reiterated a “buy” rating on shares of The Priceline Group in a report on Wednesday. Jefferies Group LLC reiterated a “buy” rating and set a $2,300.00 price target (up previously from $2,250.00) on shares of The Priceline Group in a report on Thursday. Stifel Nicolaus reiterated a “buy” rating and set a $2,100.00 price target on shares of The Priceline Group in a report on Thursday. Finally, Barclays PLC reiterated an “overweight” rating on shares of The Priceline Group in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,909.30.

In related news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total value of $237,835.34. Following the sale, the chief executive officer now directly owns 5,922 shares in the company, valued at $11,544,761.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jan L. Docter sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the sale, the director now owns 346 shares in the company, valued at $642,753.82. The disclosure for this sale can be found here. Insiders sold 1,744 shares of company stock worth $3,245,648 over the last quarter. 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 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.

Want to see what other hedge funds are holding PCLN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Priceline Group Inc. (NASDAQ:PCLN).

Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

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