Synovus Financial Corp cut its holdings in The Priceline Group Inc. (NASDAQ:PCLN) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,105 shares of the business services provider’s stock after selling 67 shares during the period. Synovus Financial Corp’s holdings in The Priceline Group were worth $3,937,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Shine Investment Advisory Services Inc. acquired a new position in The Priceline Group in the second quarter worth about $105,000. Capital Advisors Ltd. LLC acquired a new position in The Priceline Group in the second quarter worth about $112,000. Webster Bank N. A. raised its position 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 purchasing an additional 12 shares in the last quarter. Assetmark Inc. raised its position 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 purchasing an additional 7 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in The Priceline Group during the first quarter worth about $123,000. 94.53% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Gillian Tans sold 123 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $1,880.38, for a total transaction of $231,286.74. Following the completion of the transaction, the chief executive officer now directly owns 5,799 shares of the company’s stock, valued at approximately $10,904,323.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jan L. Docter sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the transaction, the director now directly owns 320 shares of the company’s stock, valued at $600,288. The disclosure for this sale can be found here. Insiders sold a total of 2,745 shares of company stock worth $5,158,872 in the last quarter. Company insiders own 0.42% of the company’s stock.
PCLN has been the topic of several research analyst reports. Cowen and Company reaffirmed an “outperform” rating and set a $2,000.00 price objective on shares of The Priceline Group in a research note on Tuesday, May 23rd. Needham & Company LLC restated a “buy” rating on shares of The Priceline Group in a report on Wednesday, June 21st. BidaskClub upgraded shares of The Priceline Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Zacks Investment Research lowered shares of The Priceline Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Morgan Stanley increased their target price on shares of The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $1,924.32.
The Priceline Group Inc. (PCLN) traded down 0.11% during mid-day trading on Friday, reaching $1843.20. The company had a trading volume of 379,783 shares. The stock has a 50 day moving average of $1,882.74 and a 200 day moving average of $1,847.92. The stock has a market capitalization of $90.43 billion, a price-to-earnings ratio of 39.15 and a beta of 1.47. The Priceline Group Inc. has a 52 week low of $1,422.19 and a 52 week high of $2,067.99.
The Priceline Group (NASDAQ:PCLN) last posted its earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating the Zacks’ consensus estimate of $14.25 by $0.89. The company 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 33.10% and a net margin of 20.51%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $13.93 earnings per share. Analysts anticipate that The Priceline Group Inc. will post $74.70 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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