Martin Investment Management Lowers stake in Priceline Group Inc (PCLN)

Priceline Group Inc (PCLN) : Martin Investment Management reduced its stake in Priceline Group Inc by 9.78% during the most recent quarter end. The investment management company now holds a total of 17,051 shares of Priceline Group Inc which is valued at $22,633,497 after selling 1,849 shares in Priceline Group Inc , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.Priceline Group Inc makes up approximately 3.65% of Martin Investment Management’s portfolio.

Other Hedge Funds, Including , Checchi Capital Advisers boosted its stake in PCLN in the latest quarter, The investment management firm added 20 additional shares and now holds a total of 390 shares of Priceline Group Inc which is valued at $517,686. Priceline Group Inc makes up approx 0.13% of Checchi Capital Advisers’s portfolio.Nordea Investment Management Ab boosted its stake in PCLN in the latest quarter, The investment management firm added 2,169 additional shares and now holds a total of 13,945 shares of Priceline Group Inc which is valued at $18,865,214. Priceline Group Inc makes up approx 0.05% of Nordea Investment Management Ab’s portfolio.Creative Planning boosted its stake in PCLN in the latest quarter, The investment management firm added 118 additional shares and now holds a total of 5,142 shares of Priceline Group Inc which is valued at $6,883,338. Priceline Group Inc makes up approx 0.05% of Creative Planning’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in PCLN in the latest quarter, The investment management firm added 768 additional shares and now holds a total of 12,849 shares of Priceline Group Inc which is valued at $17,082,232. Priceline Group Inc makes up approx 0.36% of Exxonmobil Investment Management Inc Tx’s portfolio.

Priceline Group Inc opened for trading at $1310 and hit $1329.87 on the upside on Thursday, eventually ending the session at $1326.1, with a gain of 0.12% or 1.62 points. The heightened volatility saw the trading volume jump to 4,92,685 shares. Company has a market cap of $65,827 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. Morgan Stanley Upgraded Priceline Group Inc on Jun 30, 2016 to ” Overweight”, Price Target of the shares are set at $1525.Company shares were Upgraded by Barclays on Jun 22, 2016 to ” Overweight”, Firm has raised the Price Target to $ 1500 from a previous price target of $1300 .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 .

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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