Lazard Asset Management LLC Raises Stock Holdings in Booking Holdings Inc. $BKNG

Lazard Asset Management LLC raised its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 59.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,467 shares of the business services provider’s stock after buying an additional 6,511 shares during the quarter. Lazard Asset Management LLC’s holdings in Booking were worth $73,542,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Strive Asset Management LLC purchased a new stake in shares of Booking in the 3rd quarter valued at approximately $27,000. Daytona Street Capital LLC acquired a new position in shares of Booking in the 4th quarter worth approximately $27,000. Legacy Bridge LLC purchased a new position in shares of Booking during the 4th quarter worth approximately $27,000. Camelot Portfolios LLC purchased a new position in shares of Booking during the 4th quarter worth approximately $27,000. Finally, Swiss RE Ltd. acquired a new stake in Booking in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Stock Up 5.3%

Booking stock opened at $186.79 on Tuesday. The firm has a market cap of $144.74 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.06 and a beta of 1.07. Booking Holdings Inc. has a 52-week low of $150.14 and a 52-week high of $231.80. The company’s 50 day moving average is $172.62 and its two-hundred day moving average is $177.43.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.52 billion. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, equities research analysts anticipate that Booking Holdings Inc. will post 10.45 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Peter J. Millones sold 62,500 shares of Booking stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the transaction, the vice president directly owned 425,075 shares in the company, valued at approximately $69,572,025.25. This trade represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

BKNG has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $215.00 target price on Booking and gave the company a “neutral” rating in a research report on Monday, July 20th. Robert W. Baird lowered their price target on Booking from $234.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Barclays set a $210.00 price objective on Booking and gave the company an “overweight” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. decreased their target price on Booking from $224.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Oppenheimer restated an “outperform” rating and set a $215.00 target price (down from $240.00) on shares of Booking in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $227.05.

Booking Company Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.