Nicholas Hoffman & Company LLC. purchased a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) in the first quarter, HoldingsChannel reports. The institutional investor purchased 144 shares of the business services provider’s stock, valued at approximately $300,000.
A number of other institutional investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA acquired a new stake in shares of Booking in the 1st quarter valued at about $612,539,000. Wells Fargo & Company MN acquired a new stake in shares of Booking in the 1st quarter valued at about $426,165,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Booking in the 1st quarter valued at about $358,895,000. Boston Partners acquired a new stake in shares of Booking in the 1st quarter valued at about $344,871,000. Finally, Swiss National Bank acquired a new stake in shares of Booking in the 1st quarter valued at about $325,500,000. 92.92% of the stock is owned by hedge funds and other institutional investors.
In other Booking news, Director Jeffrey E. Epstein sold 250 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $2,020.00, for a total value of $505,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gillian Tans sold 295 shares of the company’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $2,190.01, for a total transaction of $646,052.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,469 shares of company stock valued at $9,705,366. 0.24% of the stock is owned by insiders.
Booking (NASDAQ:BKNG) last posted its earnings results on Wednesday, May 9th. The business services provider reported $12.00 EPS for the quarter, topping the consensus estimate of $10.68 by $1.32. Booking had a net margin of 18.90% and a return on equity of 22.03%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the firm earned $9.88 EPS. Booking’s quarterly revenue was up 21.0% on a year-over-year basis. sell-side analysts predict that Booking Holdings Inc. will post 88.71 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on BKNG. Deutsche Bank restated a “hold” rating and issued a $2,175.00 target price on shares of Booking in a research note on Tuesday, May 8th. They noted that the move was a valuation call. Stifel Nicolaus upped their target price on shares of Booking from $2,222.00 to $2,332.00 and gave the company a “buy” rating in a research note on Thursday, May 10th. Royal Bank of Canada restated an “outperform” rating on shares of Booking in a research note on Thursday, May 10th. Wells Fargo restated a “hold” rating and issued a $2,050.00 target price on shares of Booking in a research note on Monday, May 7th. Finally, Morgan Stanley cut their target price on shares of Booking from $2,240.00 to $2,100.00 and set an “overweight” rating on the stock in a research note on Thursday, May 10th. Eight research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Booking currently has a consensus rating of “Buy” and a consensus target price of $2,165.45.
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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