Lone Pine Capital Lowers stake in Priceline Group Inc (PCLN)

Priceline Group Inc (PCLN) : Lone Pine Capital reduced its stake in Priceline Group Inc by 5.13% during the most recent quarter end. The investment management company now holds a total of 791,637 shares of Priceline Group Inc which is valued at $1,114,609,063 after selling 42,784 shares in Priceline Group Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Priceline Group Inc makes up approximately 4.98% of Lone Pine Capital’s portfolio.

Other Hedge Funds, Including , Pagoda Asset Management Lp added PCLN to its portfolio by purchasing 7,515 company shares during the most recent quarter which is valued at $10,580,970. Priceline Group Inc makes up approx 4.14% of Pagoda Asset Management Lp’s portfolio.Nippon Life Insurance Co reduced its stake in PCLN by selling 125 shares or 5.9% in the most recent quarter. The Hedge Fund company now holds 1,994 shares of PCLN which is valued at $2,734,053. Priceline Group Inc makes up approx 0.07% of Nippon Life Insurance Co’s portfolio.Riverpark Capital Management boosted its stake in PCLN in the latest quarter, The investment management firm added 1,816 additional shares and now holds a total of 6,025 shares of Priceline Group Inc which is valued at $8,261,119. Priceline Group Inc makes up approx 3.74% of Riverpark Capital Management’s portfolio. Simplex Trading sold out all of its stake in PCLN during the most recent quarter. The investment firm sold 6,024 shares of PCLN which is valued $8,149,448.

Priceline Group Inc opened for trading at $1422.5 and hit $1424.37 on the upside on Thursday, eventually ending the session at $1418.59, with a gain of 0.13% or 1.86 points. The heightened volatility saw the trading volume jump to 3,07,241 shares. Company has a market cap of $70,117 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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