Eqis Capital Management Lowers stake in Priceline Group Inc (PCLN)

Priceline Group Inc (PCLN) : Eqis Capital Management reduced its stake in Priceline Group Inc by 2.22% during the most recent quarter end. The investment management company now holds a total of 749 shares of Priceline Group Inc which is valued at $1,121,687 after selling 17 shares in Priceline Group Inc , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Priceline Group Inc makes up approximately 0.07% of Eqis Capital Management’s portfolio.

Other Hedge Funds, Including , Washington Trust Bank boosted its stake in PCLN in the latest quarter, The investment management firm added 37 additional shares and now holds a total of 1,829 shares of Priceline Group Inc which is valued at $2,739,074. Priceline Group Inc makes up approx 0.66% of Washington Trust Bank’s portfolio.Bath Savings Trust Co boosted its stake in PCLN in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 173 shares of Priceline Group Inc which is valued at $259,081. Priceline Group Inc makes up approx 0.08% of Bath Savings Trust Co’s portfolio.Beacon Financial Group reduced its stake in PCLN by selling 31 shares or 6.13% in the most recent quarter. The Hedge Fund company now holds 475 shares of PCLN which is valued at $711,351. Priceline Group Inc makes up approx 0.15% of Beacon Financial Group’s portfolio.

Priceline Group Inc opened for trading at $1494.35 and hit $1498.83 on the upside on Tuesday, eventually ending the session at $1489.02, with a gain of 0.15% or 2.3 points. The heightened volatility saw the trading volume jump to 3,86,451 shares. Company has a market cap of $73,598 M.

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 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 .Company shares were Reiterated by Piper Jaffray on Aug 5, 2016 to “Overweight”, Firm has raised the Price Target to $ 1625 from a previous price target of $1500 .

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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