Patton Fund Management Inc. lessened its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG – Get Rating) by 41.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 500 shares of the business services provider's stock after selling 348 shares during the period. Patton Fund Management Inc.'s holdings in Booking were worth $874,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the business. Norges Bank bought a new position in Booking in the fourth quarter valued at about $1,013,778,000. Assenagon Asset Management S.A. lifted its stake in Booking by 320.1% in the first quarter. Assenagon Asset Management S.A. now owns 181,603 shares of the business services provider's stock valued at $426,486,000 after buying an additional 138,379 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Booking by 3,557.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 142,166 shares of the business services provider's stock valued at $333,870,000 after buying an additional 138,279 shares during the period. Capital World Investors lifted its stake in Booking by 6.2% in the first quarter. Capital World Investors now owns 1,610,185 shares of the business services provider's stock valued at $3,781,439,000 after buying an additional 94,296 shares during the period. Finally, Aaron Wealth Advisors LLC acquired a new position in Booking in the first quarter valued at about $38,000. Institutional investors own 89.91% of the company's stock.
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In related news, Director Robert J. Mylod, Jr. purchased 500 shares of Booking stock in a transaction on Monday, August 29th. The shares were purchased at an average price of $1,912.37 per share, for a total transaction of $956,185.00. Following the transaction, the director now owns 2,580 shares of the company's stock, valued at approximately $4,933,914.60. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Radakovich Lynn M. Vojvodich sold 40 shares of the company's stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $1,955.62, for a total transaction of $78,224.80. Following the sale, the director now owns 875 shares in the company, valued at approximately $1,711,167.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert J. Mylod, Jr. bought 500 shares of the business's stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average price of $1,912.37 per share, for a total transaction of $956,185.00. Following the transaction, the director now owns 2,580 shares in the company, valued at $4,933,914.60. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 1,440 shares of company stock worth $3,003,813. Insiders own 0.13% of the company's stock.
Booking Price Performance
BKNG stock traded up $30.22 during midday trading on Monday, reaching $1,673.43. 7,834 shares of the stock were exchanged, compared to its average volume of 432,470. The stock has a market capitalization of $66.45 billion, a PE ratio of 43.81, a P/E/G ratio of 1.06 and a beta of 1.24. Booking Holdings Inc. has a 52 week low of $1,641.87 and a 52 week high of $2,715.66. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.45 and a quick ratio of 1.45. The company has a fifty day moving average price of $1,911.49 and a 200 day moving average price of $2,022.75.Booking (NASDAQ:BKNG – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The business services provider reported $19.08 EPS for the quarter, beating analysts' consensus estimates of $17.64 by $1.44. Booking had a return on equity of 62.69% and a net margin of 10.54%. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the company posted ($2.55) EPS. As a group, analysts expect that Booking Holdings Inc. will post 93.71 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have weighed in on BKNG shares. DA Davidson cut their target price on Booking from $2,300.00 to $2,150.00 and set a "neutral" rating on the stock in a research note on Monday, September 12th. JPMorgan Chase & Co. cut their target price on Booking from $2,900.00 to $2,435.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 29th. Susquehanna Bancshares dropped their price target on Booking from $2,900.00 to $2,800.00 and set a "positive" rating on the stock in a research report on Friday, August 5th. Morgan Stanley lifted their target price on Booking from $2,100.00 to $2,300.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 23rd. Finally, Credit Suisse Group dropped their target price on Booking from $2,985.00 to $2,650.00 and set an "outperform" rating on the stock in a research report on Thursday, August 4th. Eight research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,550.37.
Booking Company Profile
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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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