Booking Holdings Inc. (BKNG) Shares Bought by Riverhead Capital Management LLC
Riverhead Capital Management LLC boosted its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,332 shares of the business services provider’s stock after purchasing an additional 61 shares during the period. Riverhead Capital Management LLC’s holdings in Booking were worth $4,627,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. First Manhattan Co. lifted its holdings in Booking by 90.0% in the second quarter. First Manhattan Co. now owns 57 shares of the business services provider’s stock valued at $115,000 after acquiring an additional 27 shares during the last quarter. Smith Asset Management Group LP acquired a new position in Booking during the second quarter worth $12,669,000. First Trust Advisors LP acquired a new position in Booking during the second quarter worth $41,590,000. Alps Advisors Inc. lifted its stake in Booking by 69.4% during the second quarter. Alps Advisors Inc. now owns 310 shares of the business services provider’s stock worth $628,000 after purchasing an additional 127 shares in the last quarter. Finally, Barings LLC lifted its stake in Booking by 9.9% during the second quarter. Barings LLC now owns 2,909 shares of the business services provider’s stock worth $5,896,000 after purchasing an additional 263 shares in the last quarter. 92.54% of the stock is owned by institutional investors and hedge funds.
BKNG has been the topic of a number of research reports. Cowen set a $2,375.00 price target on Booking and gave the stock a “buy” rating in a research note on Saturday, August 11th. UBS Group upgraded Booking from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2,060.00 to $2,320.00 in a research note on Friday, August 10th. Jefferies Financial Group cut Booking from a “neutral” rating to a “hold” rating and set a $2,060.00 price target on the stock. in a research note on Friday, August 10th. Piper Jaffray Companies restated an “overweight” rating and set a $2,100.00 price target on shares of Booking in a research note on Thursday, August 9th. Finally, Benchmark restated a “hold” rating on shares of Booking in a research note on Thursday, August 9th. Eleven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Booking presently has an average rating of “Buy” and a consensus target price of $2,157.57.
Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Monday, November 5th. The business services provider reported $37.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $38.37 by ($0.59). The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.81 billion. Booking had a net margin of 19.81% and a return on equity of 26.87%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $34.43 earnings per share. As a group, analysts anticipate that Booking Holdings Inc. will post 89.57 earnings per share for the current year.
In other news, CEO Gillian Tans sold 293 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $1,872.01, for a total value of $548,498.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 883 shares of company stock worth $1,646,347. Insiders own 0.24% 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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