Forte Capital LLC ADV increased its position in The Priceline Group Inc. (NASDAQ:PCLN) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,002 shares of the business services provider’s stock after buying an additional 44 shares during the period. The Priceline Group accounts for approximately 2.5% of Forte Capital LLC ADV’s investment portfolio, making the stock its 5th largest position. Forte Capital LLC ADV’s holdings in The Priceline Group were worth $7,486,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Hartford Financial Management Inc. bought a new stake in The Priceline Group during the first quarter worth approximately $106,000. Webster Bank N. A. boosted 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 worth $110,000 after buying an additional 12 shares in the last quarter. Assetmark Inc. boosted 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 worth $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 worth approximately $123,000. Finally, Proficio Capital Partners LLC boosted 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 worth $129,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 95.22% of the company’s stock.
Shares of The Priceline Group Inc. (PCLN) opened at 1810.00 on Friday. The Priceline Group Inc. has a 12-month low of $1,402.67 and a 12-month high of $2,067.99. The firm’s 50-day moving average price is $1,946.27 and its 200 day moving average price is $1,818.99. The stock has a market capitalization of $88.80 billion, a P/E ratio of 38.44 and a beta of 1.42.
The Priceline Group (NASDAQ:PCLN) last announced its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, beating the consensus estimate of $14.25 by $0.89. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the company earned $13.93 EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. Analysts predict that The Priceline Group Inc. will post $74.77 EPS for the current fiscal year.
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PCLN has been the subject of a number of recent research reports. UBS AG reiterated a “buy” rating and set a $2,100.00 price objective (up previously from $1,870.00) on shares of The Priceline Group in a research report on Thursday, May 11th. Credit Suisse Group set a $2,020.00 price objective on The Priceline Group and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Needham & Company LLC reiterated a “buy” rating and set a $2,200.00 price objective (up previously from $1,800.00) on shares of The Priceline Group in a research report on Wednesday, May 3rd. Benchmark Co. reissued a “buy” rating and issued a $2,050.00 price target (up from $1,900.00) on shares of The Priceline Group in a research note on Sunday, May 14th. Finally, MKM Partners reissued a “buy” rating and issued a $2,050.00 price target (up from $2,030.00) on shares of The Priceline Group in a research note on Wednesday, May 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $1,924.32.
In other The Priceline Group news, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 346 shares of the company’s stock, valued at approximately $642,753.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,367 shares of company stock valued at $8,166,685. 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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