The Priceline Group Inc. (PCLN) Shares Sold by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD cut its stake in The Priceline Group Inc. (NASDAQ:PCLN) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,739 shares of the business services provider’s stock after selling 452 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in The Priceline Group were worth $36,922,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of PCLN. Hartford Financial Management Inc. bought a new stake in The Priceline Group during the first quarter valued at about $106,000. Webster Bank N. A. raised its stake in The Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock valued at $110,000 after buying an additional 12 shares in the last quarter. Assetmark Inc. raised its stake in The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after buying an additional 7 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in The Priceline Group during the first quarter valued at about $123,000. Finally, Proficio Capital Partners LLC raised its stake in The Priceline Group by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after buying an additional 16 shares in the last quarter. 95.01% of the stock is owned by institutional investors.
Shares of The Priceline Group Inc. (PCLN) opened at 1854.17 on Friday. The company has a market capitalization of $90.96 billion, a PE ratio of 39.38 and a beta of 1.42. The Priceline Group Inc. has a 52 week low of $1,392.44 and a 52 week high of $2,067.99. The firm’s 50-day moving average price is $1,950.91 and its 200 day moving average price is $1,809.82. The Priceline Group also was the target of unusually large options trading activity on Wednesday. Traders bought 17,507 call options on the stock. This represents an increase of approximately 255% compared to the typical volume of 4,928 call options.
The Priceline Group (NASDAQ:PCLN) last issued its earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping analysts’ consensus estimates of $14.25 by $0.89. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $13.93 earnings per share. Equities analysts predict that The Priceline Group Inc. will post $74.80 EPS for the current year.
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Several analysts have issued reports on the company. Cowen and Company boosted their price target on The Priceline Group from $1,850.00 to $2,000.00 and gave the company an “outperform” rating in a report on Wednesday, April 19th. UBS AG reissued a “buy” rating and set a $2,100.00 price target (up previously from $1,870.00) on shares of The Priceline Group in a report on Thursday, May 11th. Stifel Nicolaus reissued a “buy” rating and set a $2,100.00 price target on shares of The Priceline Group in a report on Thursday. Jefferies Group LLC reissued 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. Finally, Susquehanna Bancshares Inc reissued 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. One research 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 company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,909.30.
In other news, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were 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 directly owns 346 shares of the company’s stock, valued at $642,753.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $1,814.00, for a total transaction of $221,308.00. Following the completion of the sale, the chief executive officer now directly owns 6,044 shares of the company’s stock, valued at $10,963,816. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,744 shares of company stock valued at $3,245,648. 0.42% of the stock is owned by corporate insiders.
The Priceline Group Company Profile
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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