Melqart Asset Management UK Ltd Reduces Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

Melqart Asset Management UK Ltd decreased its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 63.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 992 shares of the business services provider’s stock after selling 1,748 shares during the quarter. Melqart Asset Management UK Ltd’s holdings in Booking were worth $2,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Booking in the 4th quarter worth about $901,810,000. Mawer Investment Management Ltd. raised its holdings in Booking by 729.6% in the 1st quarter. Mawer Investment Management Ltd. now owns 165,380 shares of the business services provider’s stock worth $385,309,000 after purchasing an additional 145,445 shares during the period. Canada Pension Plan Investment Board raised its holdings in Booking by 182.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 118,838 shares of the business services provider’s stock worth $264,684,000 after purchasing an additional 76,744 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Booking by 15.6% during the first quarter. Artisan Partners Limited Partnership now owns 488,531 shares of the business services provider’s stock valued at $1,138,199,000 after acquiring an additional 65,805 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Booking by 17.7% during the fourth quarter. Schroder Investment Management Group now owns 363,673 shares of the business services provider’s stock valued at $809,997,000 after acquiring an additional 54,743 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

In other news, Director Jeffery H. Boyd sold 873 shares of the company’s stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $2,228.65, for a total value of $1,945,611.45. Following the sale, the director now owns 40,982 shares in the company, valued at approximately $91,334,534.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David I. Goulden sold 183 shares of the company’s stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $2,173.00, for a total transaction of $397,659.00. Following the completion of the sale, the chief financial officer now owns 4,772 shares in the company, valued at approximately $10,369,556. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,239 shares of company stock valued at $2,764,604. 0.24% of the stock is currently owned by corporate insiders.

BKNG has been the topic of several analyst reports. Barclays increased their price objective on Booking from $2,710.00 to $2,740.00 and gave the company an “overweight” rating in a research note on Thursday, May 6th. Credit Suisse Group raised their price target on Booking from $2,640.00 to $2,675.00 and gave the stock an “outperform” rating in a report on Wednesday, May 12th. Wolfe Research began coverage on Booking in a report on Wednesday, March 31st. They set an “outperform” rating and a $2,630.00 price target on the stock. Bank of America raised Booking from a “neutral” rating to a “buy” rating in a report on Monday, March 29th. Finally, Susquehanna Bancshares lowered their price objective on Booking from $3,000.00 to $2,850.00 and set a “positive” rating on the stock in a report on Friday, May 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $2,453.04.

Shares of NASDAQ BKNG traded up $1.11 during trading on Thursday, hitting $2,195.14. 7,244 shares of the company traded hands, compared to its average volume of 302,783. The stock has a 50-day moving average of $2,253.90. The company has a debt-to-equity ratio of 2.28, a current ratio of 2.18 and a quick ratio of 2.18. Booking Holdings Inc. has a 1 year low of $1,589.00 and a 1 year high of $2,516.00. The company has a market cap of $90.11 billion, a price-to-earnings ratio of 128.61, a P/E/G ratio of 3.79 and a beta of 1.26.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Tuesday, May 4th. The business services provider reported ($5.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($7.26) by $2.00. Booking had a net margin of 12.44% and a negative return on equity of 3.81%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. On average, research analysts predict that Booking Holdings Inc. will post 34.03 EPS for the current fiscal year.

Booking Company 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.

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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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