The Priceline Group Inc. (PCLN) Stake Boosted by Maverick Capital Ltd.
Maverick Capital Ltd. lifted its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 33.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,217 shares of the business services provider’s stock after purchasing an additional 553 shares during the quarter. Maverick Capital Ltd.’s holdings in The Priceline Group were worth $4,147,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of The Priceline Group by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,284,464 shares of the business services provider’s stock worth $6,143,655,000 after purchasing an additional 79,784 shares during the period. FMR LLC grew its stake in shares of The Priceline Group by 3.8% during the 1st quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock worth $3,275,411,000 after purchasing an additional 67,569 shares during the period. Capital World Investors grew its stake in shares of The Priceline Group by 2.1% during the 2nd quarter. Capital World Investors now owns 1,723,152 shares of the business services provider’s stock worth $3,223,190,000 after purchasing an additional 34,959 shares during the period. Capital Research Global Investors grew its stake in shares of The Priceline Group by 7.1% during 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 during the period. Finally, Harbour Capital Advisors LLC boosted its position in shares of 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 buying an additional 977,817 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
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In other news, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the completion of the sale, the chief executive officer now directly owns 5,922 shares in the company, valued at approximately $11,544,761.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jan L. Docter sold 2,500 shares of The Priceline Group stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the sale, the director now owns 320 shares of the company’s stock, valued at $600,288. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,867 shares of company stock valued at $5,384,080. 0.24% of the stock is owned by corporate insiders.
Several research firms recently commented on PCLN. Credit Suisse Group reiterated an “outperform” rating and issued a $2,070.00 price objective (down from $2,150.00) on shares of The Priceline Group in a research report on Wednesday, August 9th. Needham & Company LLC reiterated a “buy” rating on shares of The Priceline Group in a research report on Wednesday, June 21st. Morgan Stanley reiterated an “overweight” rating and issued a $2,100.00 price objective (up from $2,050.00) on shares of The Priceline Group in a research report on Monday. UBS AG reiterated an “overweight” rating on shares of The Priceline Group in a research report on Thursday, August 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $2,100.00 price objective on shares of The Priceline Group in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,952.67.
The Priceline Group Inc. (NASDAQ:PCLN) traded up 1.09% during mid-day trading on Thursday, reaching $1909.27. 210,631 shares of the company were exchanged. The company has a market cap of $93.67 billion, a P/E ratio of 40.55 and a beta of 1.47. The Priceline Group Inc. has a 12 month low of $1,422.19 and a 12 month high of $2,067.99. The stock’s 50-day moving average is $1,838.26 and its 200-day moving average is $1,857.96.
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, topping the Zacks’ consensus estimate of $14.25 by $0.89. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.99 billion. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company posted $13.93 EPS. Equities analysts expect that The Priceline Group Inc. will post $74.71 earnings per share for the current year.
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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