Par Capital Management Inc. lowered its position in Booking Holdings Inc. (NASDAQ:BKNG) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,864 shares of the business services provider’s stock after selling 8,000 shares during the quarter. Booking makes up about 5.0% of Par Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Par Capital Management Inc. owned 0.37% of Booking worth $295,949,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Thoroughbred Financial Services LLC raised its position in shares of Booking by 197,303.0% in the second quarter. Thoroughbred Financial Services LLC now owns 596,157 shares of the business services provider’s stock valued at $59,616,000 after purchasing an additional 595,855 shares during the period. Investec Asset Management LTD raised its position in shares of Booking by 45.2% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock valued at $946,177,000 after purchasing an additional 201,869 shares during the period. Fiduciary Management Inc. WI bought a new position in shares of Booking in the second quarter valued at about $277,285,000. Diamond Hill Capital Management Inc. bought a new position in shares of Booking in the second quarter valued at about $240,420,000. Finally, Independent Franchise Partners LLP raised its position in shares of Booking by 51.0% in the second quarter. Independent Franchise Partners LLP now owns 357,865 shares of the business services provider’s stock valued at $670,893,000 after purchasing an additional 120,885 shares during the period. Hedge funds and other institutional investors own 92.22% of the company’s stock.
BKNG has been the topic of several research analyst reports. Cleveland Research initiated coverage on shares of Booking in a research report on Wednesday, June 19th. They issued a “neutral” rating on the stock. Evercore ISI reissued a “neutral” rating on shares of Booking in a research report on Sunday, August 11th. SunTrust Banks reissued a “buy” rating and issued a $2,150.00 price objective on shares of Booking in a research report on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $2,100.00 price objective (down from $2,150.00) on shares of Booking in a research report on Thursday, August 8th. Finally, Morgan Stanley increased their price objective on shares of Booking from $2,050.00 to $2,100.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $2,073.17.
Booking stock traded down $12.63 during trading hours on Wednesday, reaching $2,064.81. 34,162 shares of the stock were exchanged, compared to its average volume of 303,393. The company has a market cap of $87.74 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.74. Booking Holdings Inc. has a twelve month low of $1,606.27 and a twelve month high of $2,081.81. The stock has a 50 day moving average of $1,937.91 and a two-hundred day moving average of $1,837.76.
Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $23.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $22.80 by $0.79. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.78 billion. Booking had a net margin of 28.19% and a return on equity of 56.70%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $20.13 earnings per share. On average, analysts expect that Booking Holdings Inc. will post 102.15 earnings per share for the current fiscal year.
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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