Eagle Ridge Investment Management purchased a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,671 shares of the business services provider’s stock, valued at approximately $8,757,000. Booking makes up approximately 1.3% of Eagle Ridge Investment Management’s portfolio, making the stock its 29th biggest position.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Booking by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 137,675 shares of the business services provider’s stock worth $237,138,000 after acquiring an additional 2,878 shares during the period. USS Investment Management Ltd acquired a new position in Booking during the 1st quarter worth $157,206,000. Chartwell Investment Partners LLC acquired a new position in Booking during the 1st quarter worth $321,000. First Manhattan Co. boosted its position in Booking by 187.7% during the 1st quarter. First Manhattan Co. now owns 164 shares of the business services provider’s stock worth $286,000 after acquiring an additional 107 shares during the period. Finally, Raymond James Trust N.A. boosted its position in Booking by 57.4% during the 1st quarter. Raymond James Trust N.A. now owns 825 shares of the business services provider’s stock worth $1,440,000 after acquiring an additional 301 shares during the period. Institutional investors own 94.69% of the company’s stock.
NASDAQ:BKNG traded down $1.61 during trading hours on Thursday, hitting $1,889.58. 138,536 shares of the company’s stock traded hands, compared to its average volume of 324,407. The stock has a market cap of $81.49 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 1.41 and a beta of 1.14. Booking Holdings Inc. has a twelve month low of $1,606.27 and a twelve month high of $2,019.48. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a fifty day moving average price of $1,891.21.
Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $23.59 earnings per share for the quarter, beating the consensus estimate of $22.80 by $0.79. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.78 billion. Booking had a return on equity of 56.70% and a net margin of 28.19%. Booking’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $20.13 earnings per share. As a group, research analysts predict that Booking Holdings Inc. will post 101.71 EPS for the current year.
In related news, Director Jeffrey E. Epstein sold 250 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $1,755.75, for a total transaction of $438,937.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gillian Tans sold 606 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $1,791.14, for a total value of $1,085,430.84. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.
BKNG has been the subject of a number of analyst reports. Cowen reiterated an “outperform” rating and set a $2,300.00 price target (up previously from $2,160.00) on shares of Booking in a research report on Thursday, August 8th. Citigroup upgraded Booking from a “neutral” rating to a “buy” rating and cut their price objective for the company from $1,800.00 to $1,745.02 in a report on Thursday, May 23rd. Stifel Nicolaus restated a “hold” rating and issued a $1,995.00 price objective on shares of Booking in a report on Monday, April 29th. Morgan Stanley upped their price objective on Booking from $2,050.00 to $2,100.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Finally, Mizuho restated a “buy” rating and issued a $2,150.00 price objective (up previously from $2,050.00) on shares of Booking in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $2,066.00.
Booking Company Profile
Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.
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