Investors Sell Booking (BKNG) on Strength on Disappointing Earnings

Investors sold shares of Booking Holdings Inc. (NASDAQ:BKNG) on strength during trading on Tuesday following a dissappointing earnings announcement. $329.11 million flowed into the stock on the tick-up and $415.12 million flowed out of the stock on the tick-down, for a money net flow of $86.01 million out of the stock. Of all stocks tracked, Booking had the 12th highest net out-flow for the day. Booking traded up $78.34 for the day and closed at $1,949.46The business services provider reported $37.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $38.37 by ($0.59). Booking had a net margin of 20.07% and a return on equity of 24.74%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period in the prior year, the firm earned $34.43 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year.

A number of research analysts recently weighed in on BKNG shares. SunTrust Banks reaffirmed a “buy” rating and set a $2,300.00 price target on shares of Booking in a research note on Tuesday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $2,200.00 price target (up from $2,100.00) on shares of Booking in a research note on Wednesday, July 11th. Zacks Investment Research downgraded Booking from a “hold” rating to a “sell” rating in a research note on Saturday, July 14th. Benchmark reaffirmed a “hold” rating on shares of Booking in a research note on Thursday, August 9th. Finally, Stifel Nicolaus downgraded Booking from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Fourteen equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $2,141.87.

In other Booking news, CEO Gillian Tans sold 295 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $1,803.58, for a total transaction of $532,056.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. MUFG Securities EMEA plc bought a new position in shares of Booking in the second quarter valued at approximately $109,000. LFA Lugano Financial Advisors SA bought a new position in shares of Booking in the third quarter valued at approximately $109,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Booking by 86.7% in the second quarter. Harvest Fund Management Co. Ltd now owns 56 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 26 shares in the last quarter. First Manhattan Co. grew its holdings in shares of Booking by 90.0% in the second quarter. First Manhattan Co. now owns 57 shares of the business services provider’s stock valued at $115,000 after acquiring an additional 27 shares in the last quarter. Finally, Webster Bank N. A. bought a new position in shares of Booking in the second quarter valued at approximately $126,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

The firm has a market cap of $89.01 billion, a PE ratio of 25.31, a P/E/G ratio of 1.48 and a beta of 1.22. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.92 and a quick ratio of 1.92.

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Booking Company Profile (NASDAQ:BKNG)

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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