Riverpark Advisors Lowers stake in Priceline Group Inc (PCLN)

Priceline Group Inc (PCLN) : Riverpark Advisors reduced its stake in Priceline Group Inc by 22.2% during the most recent quarter end. The investment management company now holds a total of 4,632 shares of Priceline Group Inc which is valued at $5,790,463 after selling 1,322 shares in Priceline Group Inc , the firm said in a disclosure report filed with the SEC on May 3, 2016.Priceline Group Inc makes up approximately 2.79% of Riverpark Advisors’s portfolio.

Other Hedge Funds, Including , Jennison Associates reduced its stake in PCLN by selling 139,165 shares or 16.43% in the most recent quarter. The Hedge Fund company now holds 708,011 shares of PCLN which is valued at $885,084,551. Priceline Group Inc makes up approx 0.94% of Jennison Associates’s portfolio.Seven Bridges Advisors boosted its stake in PCLN in the latest quarter, The investment management firm added 172 additional shares and now holds a total of 648 shares of Priceline Group Inc which is valued at $810,065. Priceline Group Inc makes up approx 0.65% of Seven Bridges Advisors’s portfolio.Calvert Investment Management boosted its stake in PCLN in the latest quarter, The investment management firm added 68 additional shares and now holds a total of 2,798 shares of Priceline Group Inc which is valued at $3,497,780. Priceline Group Inc makes up approx 0.15% of Calvert Investment Management’s portfolio.Norris Perne French Llpmi boosted its stake in PCLN in the latest quarter, The investment management firm added 53 additional shares and now holds a total of 8,413 shares of Priceline Group Inc which is valued at $11,260,801. Priceline Group Inc makes up approx 2.31% of Norris Perne French Llpmi’s portfolio.Hartwell J M Limited Partnership boosted its stake in PCLN in the latest quarter, The investment management firm added 134 additional shares and now holds a total of 25,629 shares of Priceline Group Inc which is valued at $34,304,417. Priceline Group Inc makes up approx 8.46% of Hartwell J M Limited Partnership’s portfolio.

Priceline Group Inc opened for trading at $1252.75 and hit $1274.55 on the upside on Tuesday, eventually ending the session at $1268.27, with a gain of 1.88% or 23.35 points. The heightened volatility saw the trading volume jump to 5,40,006 shares. Company has a market cap of $62,956 M.

On the company’s financial health, Priceline Group Inc reported $10.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.90 according to the earnings call on May 4, 2016. Analyst had a consensus of $9.64. The company had revenue of $2148.00 million for the quarter, compared to analysts expectations of $2122.97 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.12 EPS.

Many Wall Street Analysts have commented on Priceline Group Inc. Shares were Reiterated by The Benchmark Company on May 5, 2016 to “Buy” and Lowered the Price Target to $ 1440 from a previous price target of $1525 .Shares were Reiterated by RBC Capital Mkts on May 5, 2016 to “Outperform” and Lowered the Price Target to $ 1600 from a previous price target of $1700 .Shares were Reiterated by UBS on May 5, 2016 to “Buy” and Lowered the Price Target to $ 1475 from a previous price target of $1525 .

The Priceline Group Inc. is a provider of online travel and travel related reservation and search services. The Company through its online travel agent (OTA) services connects consumers wishing to make travel reservations with providers of travel services across the world. The Company’s brands include Booking.com KAYAK agoda.com rentalcars.com and OpenTable. The Company offers consumers accommodation reservations including hotels bed and breakfasts hostels apartments vacation rentals and other properties through its Booking.com priceline.com and agoda.com brands. Its priceline.com brand also offers consumers reservations for rental cars airline tickets vacation packages and cruises. The Company offers rental car reservations through its Website rentalcars.com. The Company also provides an online price comparison service from various travel Websites through KAYAK. OpenTable provides its services to consumers and reservation management services to restaurants.

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