Chevy Chase Trust Holdings Inc. grew its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,298 shares of the business services provider’s stock after buying an additional 368 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.09% of The Priceline Group worth $79,271,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Harding Loevner LP lifted its holdings in The Priceline Group by 2,593.1% in the 3rd quarter. Harding Loevner LP now owns 5,254,041 shares of the business services provider’s stock worth $347,846,000 after purchasing an additional 5,058,945 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in The Priceline Group by 210,283.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock worth $523,000 after purchasing an additional 977,817 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in The Priceline Group by 654.1% in the 2nd quarter. Janus Henderson Group PLC now owns 642,567 shares of the business services provider’s stock worth $1,201,971,000 after purchasing an additional 557,358 shares in the last quarter. Capital Research Global Investors lifted its holdings in The Priceline Group by 7.1% in the 2nd quarter. Capital Research Global Investors now owns 1,622,668 shares of the business services provider’s stock worth $3,035,233,000 after purchasing an additional 108,187 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in The Priceline Group in the 3rd quarter worth approximately $174,056,000. 94.68% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on PCLN shares. Deutsche Bank reissued a “hold” rating and issued a $2,050.00 price target on shares of The Priceline Group in a report on Tuesday, October 24th. Piper Jaffray Companies reissued an “overweight” rating and issued a $2,000.00 price target on shares of The Priceline Group in a report on Tuesday, November 7th. Barclays reissued a “buy” rating and issued a $2,150.00 price target on shares of The Priceline Group in a report on Wednesday, October 11th. Stifel Nicolaus lowered their price target on The Priceline Group from $2,100.00 to $2,000.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. Finally, Royal Bank Of Canada boosted their price target on The Priceline Group from $2,050.00 to $2,100.00 and gave the stock an “outperform” rating in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The Priceline Group currently has an average rating of “Buy” and a consensus target price of $2,002.06.
The Priceline Group (NASDAQ:PCLN) last released its earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $34.31 by $0.91. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.34 billion. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $29.69 EPS. analysts forecast that The Priceline Group Inc. will post 74.42 earnings per share for the current year.
In other news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $1,940.00, for a total transaction of $236,680.00. Following the transaction, the chief executive officer now owns 5,555 shares of the company’s stock, valued at approximately $10,776,700. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jan L. Docter sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the transaction, the director now directly owns 142 shares in the company, valued at approximately $250,561.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,567 shares of company stock worth $2,790,353. Corporate insiders own 0.24% of the company’s stock.
The Priceline Group 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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