First Mercantile Trust Co Lowers stake in Priceline Group Inc (PCLN)

Priceline Group Inc (PCLN) : First Mercantile Trust Co reduced its stake in Priceline Group Inc by 18.59% during the most recent quarter end. The investment management company now holds a total of 1,099 shares of Priceline Group Inc which is valued at $1,626,322 after selling 251 shares in Priceline Group Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Priceline Group Inc makes up approximately 0.22% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Trust Co Of Oklahoma reduced its stake in PCLN by selling 130 shares or 11.89% in the most recent quarter. The Hedge Fund company now holds 963 shares of PCLN which is valued at $1,425,067. Priceline Group Inc makes up approx 0.79% of Trust Co Of Oklahoma’s portfolio.Independent Portfolio Consultants reduced its stake in PCLN by selling 2 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 620 shares of PCLN which is valued at $928,500. Priceline Group Inc makes up approx 0.29% of Independent Portfolio Consultants’s portfolio.Eqis Capital Management reduced its stake in PCLN by selling 17 shares or 2.22% in the most recent quarter. The Hedge Fund company now holds 749 shares of PCLN which is valued at $1,121,687. Priceline Group Inc makes up approx 0.07% of Eqis Capital Management’s portfolio.

Priceline Group Inc closed down -10.62 points or -0.71% at $1479.82 with 4,14,723 shares getting traded on Friday. Post opening the session at $1498.74, the shares hit an intraday low of $1478.01 and an intraday high of $1498.74 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Priceline Group Inc reported $13.93 EPS for the quarter, beating the analyst consensus estimate by $ 1.27 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $12.66. The company had revenue of $2556.00 million for the quarter, compared to analysts expectations of $2592.37 million. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.45 EPS.

Many Wall Street Analysts have commented on Priceline Group Inc. Company shares were Reiterated by RBC Capital Mkts on Oct 7, 2016 to “Outperform”, Firm has raised the Price Target to $ 1750 from a previous price target of $1600 .Company shares were Reiterated by Deutsche Bank on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 1450 from a previous price target of $1330 .Company shares were Reiterated by The Benchmark Company on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 1600 from a previous price target of $1440 .

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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