Sumitomo Life Insurance Co. reduced its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 10.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,396 shares of the business services provider’s stock after selling 161 shares during the period. Sumitomo Life Insurance Co.’s holdings in Booking were worth $2,436,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in BKNG. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Booking during the first quarter worth $215,000. BTIM Corp. increased its holdings in shares of Booking by 7.7% during the first quarter. BTIM Corp. now owns 11,769 shares of the business services provider’s stock worth $20,536,000 after buying an additional 838 shares in the last quarter. Northstar Group Inc. acquired a new position in shares of Booking during the first quarter worth $1,007,000. Autus Asset Management LLC increased its holdings in shares of Booking by 1.6% during the first quarter. Autus Asset Management LLC now owns 3,101 shares of the business services provider’s stock worth $5,411,000 after buying an additional 49 shares in the last quarter. Finally, Horan Capital Management increased its holdings in shares of Booking by 74.4% during the first quarter. Horan Capital Management now owns 11,547 shares of the business services provider’s stock worth $20,148,000 after buying an additional 4,925 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.
BKNG opened at $1,847.52 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.12. Booking Holdings Inc. has a fifty-two week low of $1,606.27 and a fifty-two week high of $2,201.84. The stock has a market capitalization of $82.89 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 1.42 and a beta of 1.03.
Booking (NASDAQ:BKNG) last posted its earnings results on Wednesday, February 27th. The business services provider reported $22.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $19.39 by $3.10. Booking had a net margin of 27.52% and a return on equity of 44.63%. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the business posted $16.86 EPS. The firm’s revenue was up 14.6% compared to the same quarter last year. Equities analysts forecast that Booking Holdings Inc. will post 101.67 EPS for the current fiscal year.
In related news, CEO Gillian Tans sold 321 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $1,751.79, for a total value of $562,324.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey E. Epstein sold 250 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $1,715.00, for a total transaction of $428,750.00. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
Several research analysts have recently issued reports on BKNG shares. Jefferies Financial Group downgraded shares of Booking from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Telsey Advisory Group cut shares of Booking from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $2,100.00 to $1,800.00 in a research note on Tuesday, March 19th. Zacks Investment Research cut shares of Booking from a “buy” rating to a “hold” rating in a research note on Friday, January 11th. Wedbush cut shares of Booking from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $2,000.00 to $1,850.00 in a research note on Friday, March 22nd. Finally, ValuEngine cut shares of Booking from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. Booking has a consensus rating of “Hold” and an average price target of $2,121.68.
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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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