Todays Report: Today, Parsons Capital Management Inc. RI invests in 139 by buying The Priceline Group Inc. (PCLN) shares

Today, Parsons Capital Management Inc. RI invests in 139 by buying The Priceline Group Inc. (PCLN) shares

Parsons Capital Management Inc. RI increased its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 11.5% during the third quarter, Holdings Channel reports. The institutional investor owned 1,345 shares of the company’s stock after buying an additional 139 shares during the period. Parsons Capital Management Inc. RI’s holdings in The Priceline Group were worth $1,979,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of The Priceline Group by 1.7% in the second quarter. Vanguard Group Inc. now owns 2,994,181 shares of the company’s stock valued at $3,737,965,000 after buying an additional 51,477 shares in the last quarter. Capital World Investors increased its stake in shares of The Priceline Group by 38.0% in the second quarter. Capital World Investors now owns 1,235,836 shares of the company’s stock valued at $1,542,830,000 after buying an additional 340,386 shares in the last quarter. Lone Pine Capital LLC increased its stake in shares of The Priceline Group by 41.6% in the second quarter. Lone Pine Capital LLC now owns 1,120,758 shares of the company’s stock valued at $1,399,165,000 after buying an additional 329,121 shares in the last quarter. Jennison Associates LLC increased its stake in shares of The Priceline Group by 21.2% in the second quarter. Jennison Associates LLC now owns 858,165 shares of the company’s stock valued at $1,071,342,000 after buying an additional 150,154 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in shares of The Priceline Group by 1.3% in the second quarter. BlackRock Group LTD now owns 405,155 shares of the company’s stock valued at $505,800,000 after buying an additional 5,337 shares in the last quarter. Institutional investors and hedge funds own 94.10% of the company’s stock.

The Priceline Group Inc. (NASDAQ:PCLN) traded down 0.12% during mid-day trading on Friday, reaching $1519.16. The company had a trading volume of 64,468 shares. The stock has a market capitalization of $74.96 billion, a price-to-earnings ratio of 38.78 and a beta of 1.69. The company’s 50 day moving average is $1,484.93 and its 200 day moving average is $1,389.86. The Priceline Group Inc. has a 52-week low of $954.02 and a 52-week high of $1,600.93.

The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Monday, November 7th. The company reported $31.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $29.88 by $1.30. The Priceline Group had a return on equity of 34.70% and a net margin of 18.91%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the company posted $25.35 earnings per share. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. Equities analysts predict that The Priceline Group Inc. will post $64.44 earnings per share for the current year.

Several equities analysts recently weighed in on PCLN shares. Credit Suisse Group AG reiterated a “buy” rating and set a $1,660.00 target price (down from $1,750.00) on shares of The Priceline Group in a research report on Tuesday, November 8th. Zacks Investment Research upgraded The Priceline Group from a “hold” rating to a “buy” rating and set a $1,575.00 target price on the stock in a research report on Thursday, August 11th. Royal Bank Of Canada increased their target price on The Priceline Group from $1,600.00 to $1,750.00 and gave the stock an “outperform” rating in a research report on Friday, October 7th. Susquehanna reiterated a “buy” rating and set a $1,700.00 target price on shares of The Priceline Group in a research report on Tuesday, November 8th. Finally, Pacific Crest reiterated a “hold” rating on shares of The Priceline Group in a research report on Tuesday, November 8th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The Priceline Group has an average rating of “Buy” and an average price target of $1,622.45.

In other The Priceline Group news, insider Glenn D. Fogel sold 1,000 shares of The Priceline Group stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $1,434.75, for a total transaction of $1,434,750.00. Following the sale, the insider now directly owns 25,131 shares of the company’s stock, valued at $36,056,702.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gillian Tans sold 130 shares of The Priceline Group stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $1,431.98, for a total value of $186,157.40. Following the sale, the chief executive officer now directly owns 5,788 shares in the company, valued at $8,288,300.24. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

About The Priceline Group

The Priceline Group Inc is a provider of travel and restaurant 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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