Liberty Mutual Group Asset Management Inc. Sells 960 Shares of The Priceline Group Inc. (PCLN)

Liberty Mutual Group Asset Management Inc. decreased its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 26.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,677 shares of the business services provider’s stock after selling 960 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in The Priceline Group were worth $4,765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hartford Financial Management Inc. acquired a new position in shares of The Priceline Group during the first quarter valued at about $106,000. Webster Bank N. A. raised its position in shares of 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 valued at $110,000 after buying an additional 12 shares in the last quarter. Assetmark Inc. raised its position in shares of The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after buying an additional 7 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of The Priceline Group during the fourth quarter valued at about $118,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of The Priceline Group during the first quarter valued at about $123,000. 95.23% of the stock is currently owned by institutional investors.

The Priceline Group Inc. (NASDAQ:PCLN) opened at 2002.01 on Tuesday. The stock has a market cap of $98.38 billion, a P/E ratio of 45.20 and a beta of 1.41. The stock has a 50 day moving average price of $1,893.84 and a 200 day moving average price of $1,769.09. The Priceline Group Inc. has a 52-week low of $1,310.00 and a 52-week high of $2,008.65.

The Priceline Group (NASDAQ:PCLN) last posted its earnings results on Tuesday, May 9th. The business services provider reported $9.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.83 by $1.05. The Priceline Group had a return on equity of 33.94% and a net margin of 20.12%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the company earned $10.54 EPS. The Priceline Group’s revenue was up 12.6% on a year-over-year basis. On average, equities research analysts forecast that The Priceline Group Inc. will post $73.94 EPS for the current year.

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A number of research analysts have recently weighed in on PCLN shares. Needham & Company LLC reissued a “buy” rating and issued a $2,200.00 price objective on shares of The Priceline Group in a report on Wednesday, May 10th. Macquarie set a $1,970.00 price objective on The Priceline Group and gave the company a “buy” rating in a report on Tuesday, April 18th. Credit Suisse Group set a $1,935.00 price objective on The Priceline Group and gave the company a “buy” rating in a report on Saturday, April 8th. UBS AG reissued a “buy” rating and issued a $2,100.00 price objective (up from $1,870.00) on shares of The Priceline Group in a report on Thursday, May 11th. Finally, Benchmark Co. reissued a “buy” rating and issued a $2,050.00 price objective (up from $1,900.00) on shares of The Priceline Group in a report on Sunday, May 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The Priceline Group has a consensus rating of “Buy” and an average price target of $1,944.62.

In related news, Director Jan L. Docter sold 1,500 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the sale, the director now directly owns 346 shares in the company, valued at approximately $642,753.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gillian Tans sold 122 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total value of $237,835.34. Following the completion of the sale, the chief executive officer now owns 5,922 shares of the company’s stock, valued at $11,544,761.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,744 shares of company stock valued at $3,245,648. Insiders own 0.42% of the company’s stock.

About The Priceline Group

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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