Sumitomo Mitsui Asset Management Company Ltd buys $36.5 Million stake in Priceline Group Inc (PCLN)

Priceline Group Inc (PCLN) : Sumitomo Mitsui Asset Management Company Ltd scooped up 9,475 additional shares in Priceline Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 28,557 shares of Priceline Group Inc which is valued at $36.5 Million.Priceline Group Inc makes up approximately 1.13% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.

Other Hedge Funds, Including , Genesee Valley Trust Co boosted its stake in PCLN in the latest quarter, The investment management firm added 66 additional shares and now holds a total of 1,615 shares of Priceline Group Inc which is valued at $2.1 Million. Priceline Group Inc makes up approx 1.48% of Genesee Valley Trust Co’s portfolio.Blackrock Fund Advisors reduced its stake in PCLN by selling 14,382 shares or 2.31% in the most recent quarter. The Hedge Fund company now holds 608,893 shares of PCLN which is valued at $778.6 Million. Priceline Group Inc makes up approx 0.18% of Blackrock Fund Advisors’s portfolio.Penserra Capital Management boosted its stake in PCLN in the latest quarter, The investment management firm added 15 additional shares and now holds a total of 52 shares of Priceline Group Inc which is valued at $66,489. Priceline Group Inc makes up approx 0.01% of Penserra Capital Management’s portfolio.Ballentine Partners boosted its stake in PCLN in the latest quarter, The investment management firm added 118 additional shares and now holds a total of 310 shares of Priceline Group Inc which is valued at $396,378. Priceline Group Inc makes up approx 0.04% of Ballentine Partners’s portfolio.Asset Dedication reduced its stake in PCLN by selling 4 shares or 17.39% in the most recent quarter. The Hedge Fund company now holds 19 shares of PCLN which is valued at $25,530. Priceline Group Inc makes up approx 0.02% of Asset Dedication’s portfolio.

Priceline Group Inc opened for trading at $1281.95 and hit $1289.45 on the upside on Monday, eventually ending the session at $1283.47, with a gain of 0.38% or 4.83 points. The heightened volatility saw the trading volume jump to 4,32,601 shares. Company has a market cap of $63,711 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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