Scharf Investments LLC decreased its holdings in Priceline Group Inc (NASDAQ:PCLN) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,141 shares of the business services provider’s stock after selling 3,760 shares during the period. Priceline Group accounts for about 4.6% of Scharf Investments LLC’s holdings, making the stock its 8th biggest position. Scharf Investments LLC owned 0.21% of Priceline Group worth $188,833,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of PCLN. Harvest Fund Management Co. Ltd bought a new stake in shares of Priceline Group in the 2nd quarter worth approximately $101,000. Horan Capital Advisors LLC. bought a new stake in Priceline Group during the 3rd quarter valued at $103,000. Shine Investment Advisory Services Inc. bought a new stake in Priceline Group during the 2nd quarter valued at $105,000. Capital Advisors Ltd. LLC bought a new stake in Priceline Group during the 2nd quarter valued at $112,000. Finally, Mountain Capital Investment Advisors Inc bought a new stake in Priceline Group during the 2nd quarter valued at $133,000. Hedge funds and other institutional investors own 94.39% of the company’s stock.
In related news, Director Jan L. Docter sold 1,200 shares of Priceline Group stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the completion of the sale, the director now directly owns 142 shares in the company, valued at $250,561.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gillian Tans sold 122 shares of Priceline Group stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $1,772.94, for a total value of $216,298.68. Following the completion of the sale, the chief executive officer now owns 5,310 shares of the company’s stock, valued at $9,414,311.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,567 shares of company stock valued at $2,781,444. Corporate insiders own 0.24% of the company’s stock.
Priceline Group (NASDAQ:PCLN) last released its earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, topping the consensus estimate of $34.31 by $0.91. Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the company earned $29.69 earnings per share. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. research analysts anticipate that Priceline Group Inc will post 74.42 EPS for the current fiscal year.
A number of equities research analysts recently commented on PCLN shares. Deutsche Bank reiterated a “hold” rating and set a $2,050.00 price target on shares of Priceline Group in a report on Tuesday, October 24th. Piper Jaffray Companies restated an “overweight” rating and issued a $2,000.00 price objective on shares of Priceline Group in a report on Tuesday, November 7th. Barclays restated a “buy” rating and issued a $2,150.00 price objective on shares of Priceline Group in a report on Wednesday, October 11th. Stifel Nicolaus reduced their target price on shares of 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, Royal Bank of Canada upped their target price on shares of Priceline Group from $2,050.00 to $2,100.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $2,002.06.
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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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