Booking Holdings Inc. (NASDAQ:BKNG) Shares Purchased by Grisanti Capital Management LLC

Grisanti Capital Management LLC lifted its position in Booking Holdings Inc. (NASDAQ:BKNG) by 35.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,646 shares of the business services provider’s stock after acquiring an additional 699 shares during the period. Booking accounts for 2.7% of Grisanti Capital Management LLC’s holdings, making the stock its 13th largest position. Grisanti Capital Management LLC’s holdings in Booking were worth $4,960,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Weaver Consulting Group acquired a new stake in shares of Booking in the first quarter worth approximately $25,000. Guidant Wealth Advisors acquired a new position in Booking during the first quarter worth $26,000. TRUE Private Wealth Advisors acquired a new position in Booking during the second quarter worth $50,000. Horan Capital Advisors LLC. acquired a new position in Booking during the first quarter worth $49,000. Finally, Legacy Advisors LLC boosted 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 buying an additional 19 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Booking stock traded up $17.52 during trading hours on Friday, hitting $1,922.19. The company’s stock had a trading volume of 240,800 shares, compared to its average volume of 338,554. Booking Holdings Inc. has a twelve month low of $1,606.27 and a twelve month high of $2,019.48. The firm has a fifty day moving average of $1,893.44 and a 200-day moving average of $1,824.88. The stock has a market cap of $80.40 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.58 and a current ratio of 1.58.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $23.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $22.80 by $0.79. Booking had a return on equity of 56.70% and a net margin of 28.19%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the company posted $20.13 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts expect that Booking Holdings Inc. will post 101.69 earnings per share for the current fiscal year.

BKNG has been the topic of a number of recent research reports. Evercore ISI reissued a “neutral” rating on shares of Booking in a research note on Sunday, August 11th. UBS Group lowered their price objective on Booking from $2,000.00 to $1,960.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Cowen reissued an “outperform” rating and set a $2,300.00 price objective (up previously from $2,160.00) on shares of Booking in a research note on Thursday, August 8th. Ascendiant Capital Markets set a $2,000.00 price objective on Booking and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, Mizuho reissued a “buy” rating and set a $2,150.00 price objective (up previously from $2,050.00) on shares of Booking in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $2,066.00.

In related news, CEO Gillian Tans sold 606 shares of the business’s stock in a transaction 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 filing with the SEC, which is accessible through this link. Also, Director Jeffrey E. Epstein sold 250 shares of the business’s stock in a transaction 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. Corporate insiders own 0.24% of the company’s stock.

Booking 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.

Further Reading: How is a buy-side analyst different from a sell-side analyst?

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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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