Alta Capital Management LLC raised its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,670 shares of the business services provider’s stock after buying an additional 1,690 shares during the period. Booking comprises about 4.8% of Alta Capital Management LLC’s holdings, making the stock its 3rd largest position. Alta Capital Management LLC’s holdings in Booking were worth $86,641,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in BKNG. MUFG Securities EMEA plc bought a new position in shares of Booking in the second quarter valued at $109,000. LFA Lugano Financial Advisors SA bought a new position in shares of Booking during the third quarter valued at about $109,000. Harvest Fund Management Co. Ltd lifted its position in shares of Booking by 86.7% during the second quarter. Harvest Fund Management Co. Ltd now owns 56 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 26 shares in the last quarter. First Manhattan Co. lifted its position in shares of Booking by 90.0% during the second quarter. First Manhattan Co. now owns 57 shares of the business services provider’s stock valued at $115,000 after purchasing an additional 27 shares in the last quarter. Finally, WealthTrust Fairport LLC bought a new position in shares of Booking during the first quarter valued at about $121,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Benchmark lowered shares of Booking from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. Zacks Investment Research raised shares of Booking from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Morgan Stanley reissued an “overweight” rating and set a $2,200.00 price target (up from $2,100.00) on shares of Booking in a research report on Wednesday, July 11th. SunTrust Banks reissued a “buy” rating and set a $2,300.00 price target on shares of Booking in a research report on Tuesday, July 10th. Finally, Barclays raised their price target on shares of Booking to $2,270.00 in a research report on Thursday, September 27th. They noted that the move was a valuation call. Fourteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $2,145.70.
Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Thursday, August 9th. The business services provider reported $20.67 EPS for the quarter, topping the consensus estimate of $17.34 by $3.33. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.45 billion. Booking had a net margin of 20.07% and a return on equity of 24.74%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $24.39 earnings per share. Analysts forecast that Booking Holdings Inc. will post 89.26 earnings per share for the current year.
In other news, CEO Gillian Tans sold 295 shares of Booking stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $1,917.94, for a total value of $565,792.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.
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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