CIBC Asset Management Inc Purchases 248 Shares of Booking Holdings Inc. (BKNG)
CIBC Asset Management Inc lifted its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,037 shares of the business services provider’s stock after buying an additional 248 shares during the quarter. CIBC Asset Management Inc’s holdings in Booking were worth $14,265,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. C WorldWide Group Holding A S bought a new position in shares of Booking in the first quarter worth about $104,000. Paradigm Asset Management Co. LLC bought a new position in shares of Booking in the first quarter worth about $104,000. Fortis Advisors LLC bought a new position in shares of Booking in the first quarter worth about $104,000. Whittier Trust Co. bought a new position in shares of Booking in the first quarter worth about $108,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Booking in the second quarter worth about $109,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on BKNG. ValuEngine raised Booking from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus raised their price objective on Booking from $2,222.00 to $2,332.00 and gave the stock a “buy” rating in a research note on Thursday, May 10th. Credit Suisse Group reaffirmed a “buy” rating and issued a $2,100.00 price objective (down previously from $2,250.00) on shares of Booking in a research note on Friday, August 10th. DA Davidson set a $1,990.00 price objective on Booking and gave the stock a “hold” rating in a research note on Friday, August 10th. Finally, Citigroup downgraded Booking from a “buy” rating to a “neutral” rating in a research note on Friday, August 10th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $2,154.45.
Booking (NASDAQ:BKNG) last released its earnings results on Thursday, August 9th. The business services provider reported $20.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $17.34 by $3.33. Booking had a return on equity of 24.74% and a net margin of 20.07%. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the business posted $24.39 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. research analysts anticipate that Booking Holdings Inc. will post 89.06 EPS for the current year.
In other Booking news, CEO Gillian Tans sold 295 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $2,030.98, for a total transaction of $599,139.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.24% of the company’s stock.
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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