Trade Report: Today, The Priceline Group’s (PCLN) “Market Perform” Rating Reaffirm at Wells Fargo & Co.

Today, The Priceline Group’s (PCLN) “Market Perform” Rating Reaffirm at Wells Fargo & Co.

The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “market perform” rating reissued by equities researchers at Wells Fargo & Co. in a research report issued on Tuesday.

Several other research analysts have also issued reports on the company. Ascendiant Capital Markets reiterated a “buy” rating and issued a $1,700.00 price target (up previously from $1,600.00) on shares of The Priceline Group in a report on Tuesday, November 8th. Susquehanna reiterated a “buy” rating and issued a $1,700.00 price target on shares of The Priceline Group in a report on Tuesday, November 8th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $1,625.00 price target on shares of The Priceline Group in a report on Tuesday, November 8th. Pacific Crest reiterated a “hold” rating on shares of The Priceline Group in a report on Tuesday, November 8th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $1,600.00 price target on shares of The Priceline Group in a report on Tuesday, November 8th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The Priceline Group has a consensus rating of “Buy” and a consensus target price of $1,622.45.

The Priceline Group (NASDAQ:PCLN) opened at 1521.68 on Tuesday. The stock’s 50 day moving average price is $1,485.47 and its 200 day moving average price is $1,391.83. The company has a market capitalization of $75.09 billion, a P/E ratio of 38.84 and a beta of 1.69. The Priceline Group has a 52 week low of $954.02 and a 52 week high of $1,600.93.

The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings results on Monday, November 7th. The company reported $31.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $29.88 by $1.30. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.61 billion. The Priceline Group had a return on equity of 34.70% and a net margin of 18.91%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $25.35 earnings per share. Analysts anticipate that The Priceline Group will post $64.44 earnings per share for the current year.

In other The Priceline Group news, CEO Gillian Tans sold 131 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $1,499.97, for a total value of $196,496.07. Following the completion of the sale, the chief executive officer now directly owns 5,526 shares of the company’s stock, valued at $8,288,834.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Glenn D. Fogel sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $1,453.23, for a total value of $1,453,230.00. Following the completion of the sale, the insider now directly owns 23,918 shares of the company’s stock, valued at $34,758,355.14. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in PCLN. Envestnet Asset Management Inc. increased its stake in The Priceline Group by 19.7% in the first quarter. Envestnet Asset Management Inc. now owns 25,164 shares of the company’s stock worth $32,435,000 after buying an additional 4,141 shares in the last quarter. Hillman Co. increased its stake in The Priceline Group by 29.2% in the second quarter. Hillman Co. now owns 22,929 shares of the company’s stock worth $28,625,000 after buying an additional 5,186 shares in the last quarter. Henderson Group PLC increased its stake in The Priceline Group by 19.9% in the second quarter. Henderson Group PLC now owns 79,996 shares of the company’s stock worth $99,914,000 after buying an additional 13,258 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in The Priceline Group during the first quarter worth about $251,864,000. Finally, Adage Capital Partners GP L.L.C. increased its stake in The Priceline Group by 74.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 74,100 shares of the company’s stock worth $95,512,000 after buying an additional 31,600 shares in the last quarter. 94.10% of the stock is owned by institutional investors and hedge funds.

About The Priceline Group

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