Cleararc Capital Inc. Trims Position in Booking Holdings Inc. (NASDAQ:BKNG)
Cleararc Capital Inc. trimmed its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 6.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 747 shares of the business services provider’s stock after selling 48 shares during the quarter. Cleararc Capital Inc.’s holdings in Booking were worth $1,303,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of BKNG. Ellis Investment Partners LLC boosted its holdings in Booking by 174,390.7% during the first quarter. Ellis Investment Partners LLC now owns 621,187 shares of the business services provider’s stock worth $621,000 after buying an additional 620,831 shares in the last quarter. Norges Bank acquired a new position in Booking in the 4th quarter worth approximately $788,351,000. Yacktman Asset Management LP acquired a new position in Booking in the 1st quarter worth approximately $371,090,000. Boston Partners boosted its stake in Booking by 7,915.2% in the 1st quarter. Boston Partners now owns 175,453 shares of the business services provider’s stock worth $306,150,000 after purchasing an additional 173,264 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in Booking by 12,306.4% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 93,544 shares of the business services provider’s stock worth $163,225,000 after purchasing an additional 92,790 shares during the period. Hedge funds and other institutional investors own 92.92% of the company’s stock.
A number of equities analysts recently commented on BKNG shares. Mizuho reaffirmed a “buy” rating on shares of Booking in a research note on Thursday, February 28th. SunTrust Banks reaffirmed a “buy” rating and issued a $2,150.00 price objective on shares of Booking in a research note on Thursday, February 28th. Bank of America reaffirmed a “buy” rating and issued a $2,400.00 price objective (up previously from $2,300.00) on shares of Booking in a research note on Tuesday, February 26th. Ascendiant Capital Markets set a $2,000.00 price objective on shares of Booking and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, Needham & Company LLC started coverage on shares of Booking in a research note on Monday, May 20th. They issued a “buy” rating and a $2,200.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Booking currently has an average rating of “Hold” and an average price target of $2,072.70.
Booking (NASDAQ:BKNG) last released its earnings results on Thursday, May 9th. The business services provider reported $11.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.26 by ($0.09). Booking had a return on equity of 48.32% and a net margin of 28.79%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the company earned $12.34 EPS. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, research analysts expect that Booking Holdings Inc. will post 100.86 earnings per share for the current fiscal year.
In other Booking news, Director Jeffrey E. Epstein sold 250 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $1,755.75, for a total value of $438,937.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gillian Tans sold 606 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $1,778.60, for a total transaction of $1,077,831.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,177 shares of company stock valued at $2,105,483. Insiders own 0.27% of the company’s stock.
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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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