Davis Selected Advisers Lowers Position in The Priceline Group Inc. (PCLN)

Davis Selected Advisers trimmed its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 21.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,073 shares of the business services provider’s stock after selling 19,866 shares during the period. Davis Selected Advisers owned approximately 0.15% of The Priceline Group worth $130,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Associates Ltd. grew its stake in shares of The Priceline Group by 0.5% in the 2nd quarter. Pinnacle Associates Ltd. now owns 617 shares of the business services provider’s stock valued at $1,154,000 after purchasing an additional 3 shares during the period. New Amsterdam Partners LLC NY grew its stake in shares of The Priceline Group by 1.5% in the 2nd quarter. New Amsterdam Partners LLC NY now owns 337 shares of the business services provider’s stock valued at $630,000 after purchasing an additional 5 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of The Priceline Group by 0.8% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 600 shares of the business services provider’s stock valued at $1,122,000 after purchasing an additional 5 shares during the period. Argent Trust Co grew its stake in shares of The Priceline Group by 0.7% in the 2nd quarter. Argent Trust Co now owns 767 shares of the business services provider’s stock valued at $1,434,000 after purchasing an additional 5 shares during the period. Finally, TCI Wealth Advisors Inc. grew its stake in shares of The Priceline Group by 8.7% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 75 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 6 shares during the period. Hedge funds and other institutional investors own 94.68% of the company’s stock.

The Priceline Group Inc. (NASDAQ PCLN) opened at $1,742.61 on Thursday. The Priceline Group Inc. has a 1-year low of $1,459.49 and a 1-year high of $2,067.99. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $83,665.12, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.36 and a beta of 1.40.

The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data on Monday, November 6th. The business services provider reported $35.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $34.31 by $0.91. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the business earned $29.69 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. equities analysts expect that The Priceline Group Inc. will post 74.42 earnings per share for the current year.

PCLN has been the topic of several analyst reports. Bank of America reiterated a “buy” rating and issued a $2,150.00 price objective on shares of The Priceline Group in a research note on Tuesday, September 26th. Barclays restated a “buy” rating and set a $2,150.00 price target on shares of The Priceline Group in a research report on Wednesday, October 11th. SunTrust Banks restated a “buy” rating and set a $2,200.00 price target on shares of The Priceline Group in a research report on Wednesday, October 4th. Stifel Nicolaus decreased their price target on The Priceline Group from $2,100.00 to $2,000.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $2,000.00 price target (down from $2,200.00) on shares of The Priceline Group in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $2,002.06.

In other The Priceline Group news, Director Jan L. Docter sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total transaction of $2,117,424.00. Following the transaction, the director now owns 142 shares of the company’s stock, valued at approximately $250,561.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $1,845.97, for a total value of $225,208.34. Following the transaction, the chief executive officer now directly owns 5,677 shares in the company, valued at approximately $10,479,571.69. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,567 shares of company stock worth $2,790,353. Company insiders own 0.24% of the company’s stock.

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The Priceline Group 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.

Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

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