State Treasurer State of Michigan Decreases Stake in Booking Holdings Inc. (NASDAQ:BKNG)

State Treasurer State of Michigan lessened its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 47.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,325 shares of the business services provider’s stock after selling 9,400 shares during the quarter. State Treasurer State of Michigan’s holdings in Booking were worth $19,356,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Weaver Consulting Group purchased a new stake in Booking during the first quarter worth approximately $25,000. Guidant Wealth Advisors purchased a new stake in Booking during the first quarter worth approximately $26,000. Truvestments Capital LLC purchased a new stake in Booking during the first quarter worth approximately $44,000. Horan Capital Advisors LLC. purchased a new stake in Booking during the first quarter worth approximately $49,000. Finally, Legacy Advisors LLC lifted its stake in Booking by 172.7% during the second quarter. Legacy Advisors LLC now owns 30 shares of the business services provider’s stock worth $56,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Several equities research analysts recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and set a $1,995.00 target price on shares of Booking in a research note on Monday, April 29th. ValuEngine cut Booking from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. 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 note on Tuesday, July 30th. Cleveland Research assumed coverage on Booking in a research note on Wednesday, June 19th. They set a “neutral” rating for the company. Finally, UBS Group decreased their target price on Booking from $2,000.00 to $1,960.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. Booking currently has an average rating of “Hold” and an average target price of $2,057.52.

BKNG traded up $14.23 during trading on Wednesday, hitting $1,800.75. 199,821 shares of the stock were exchanged, compared to its average volume of 274,344. The company has a market cap of $79.92 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 1.51 and a beta of 1.14. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.34. The company’s fifty day simple moving average is $1,882.48. Booking Holdings Inc. has a 1-year low of $1,606.27 and a 1-year high of $2,109.00.

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 the Zacks’ consensus estimate of $11.26 by ($0.09). The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.93 billion. Booking had a net margin of 28.79% and a return on equity of 48.32%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $12.34 EPS. On average, analysts forecast that Booking Holdings Inc. will post 100.96 EPS for the current fiscal year.

In other news, CEO Gillian Tans sold 606 shares of the business’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 value of $1,085,430.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey E. Epstein sold 250 shares of the business’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 three months, insiders sold 1,462 shares of company stock worth $2,602,200. Corporate insiders own 0.27% of the company’s stock.

About Booking

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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