Smead Capital Management Inc. Cuts Stock Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

Smead Capital Management Inc. decreased its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2.8% in the 2nd quarter, Holdings Channel reports. The firm owned 11,737 shares of the business services provider’s stock after selling 343 shares during the period. Booking comprises 1.1% of Smead Capital Management Inc.’s investment portfolio, making the stock its 28th largest holding. Smead Capital Management Inc.’s holdings in Booking were worth $22,003,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BKNG. FMR LLC lifted its position in Booking by 8.3% in the 1st quarter. FMR LLC now owns 997,623 shares of the business services provider’s stock worth $1,740,762,000 after buying an additional 76,561 shares during the last quarter. Ellis Investment Partners LLC lifted its position in Booking by 174,390.7% in the 1st 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 during the last quarter. Thoroughbred Financial Services LLC lifted its position in Booking by 197,303.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 596,157 shares of the business services provider’s stock worth $59,616,000 after buying an additional 595,855 shares during the last quarter. Investec Asset Management LTD lifted its position in Booking by 5.7% in the 1st quarter. Investec Asset Management LTD now owns 446,638 shares of the business services provider’s stock worth $779,343,000 after buying an additional 23,929 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its position in Booking by 28.4% in the 1st quarter. Flossbach Von Storch AG now owns 259,414 shares of the business services provider’s stock worth $452,654,000 after buying an additional 57,308 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

Shares of Booking stock traded down $7.34 during midday trading on Tuesday, reaching $1,781.26. 22,887 shares of the company’s stock traded hands, compared to its average volume of 274,344. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market capitalization of $79.92 billion, a P/E ratio of 19.23, a PEG ratio of 1.51 and a beta of 1.14. The company’s 50 day moving average is $1,882.65. Booking Holdings Inc. has a 12 month low of $1,606.27 and a 12 month high of $2,109.00.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, May 9th. The business services provider reported $11.17 EPS for the quarter, missing analysts’ consensus estimates of $11.26 by ($0.09). The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.93 billion. Booking had a net margin of 28.79% and a return on equity of 48.32%. Booking’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $12.34 EPS. Research analysts anticipate that Booking Holdings Inc. will post 100.96 EPS for the current year.

A number of analysts recently weighed in on the company. ValuEngine downgraded Booking from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Zacks Investment Research upgraded Booking from a “sell” rating to a “hold” rating and set a $1,988.00 target price for the company in a research report on Tuesday, July 23rd. Cleveland Research assumed coverage on Booking in a research report on Wednesday, June 19th. They issued a “neutral” rating for the company. Cowen boosted their target price on Booking from $2,000.00 to $2,160.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, Ascendiant Capital Markets set a $2,000.00 target price on Booking and gave the stock a “buy” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $2,057.52.

In related news, CEO Gillian Tans sold 606 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $1,791.14, for a total transaction of $1,085,430.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey E. Epstein sold 250 shares of the company’s 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,462 shares of company stock valued at $2,602,200. 0.27% of the stock is owned by corporate insiders.

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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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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