Suncoast Equity Management increased its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,063 shares of the business services provider’s stock after purchasing an additional 45 shares during the quarter. Booking accounts for 6.0% of Suncoast Equity Management’s investment portfolio, making the stock its 4th largest position. Suncoast Equity Management’s holdings in Booking were worth $25,917,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley increased its holdings in Booking by 30.9% during the 2nd quarter. Morgan Stanley now owns 993,158 shares of the business services provider’s stock valued at $2,013,218,000 after acquiring an additional 234,246 shares in the last quarter. FMR LLC increased its holdings in Booking by 14.6% during the 2nd quarter. FMR LLC now owns 1,428,678 shares of the business services provider’s stock valued at $2,896,058,000 after acquiring an additional 181,931 shares in the last quarter. Egerton Capital UK LLP purchased a new position in Booking during the 2nd quarter valued at about $335,358,000. Jennison Associates LLC increased its holdings in Booking by 25.4% during the 2nd quarter. Jennison Associates LLC now owns 589,299 shares of the business services provider’s stock valued at $1,194,562,000 after acquiring an additional 119,238 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Booking during the 1st quarter valued at about $239,390,000. Institutional investors and hedge funds own 91.99% of the company’s stock.
Several research firms have weighed in on BKNG. Benchmark restated a “hold” rating on shares of Booking in a report on Thursday, August 9th. Stifel Nicolaus downgraded shares of Booking from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. DA Davidson set a $1,990.00 target price on shares of Booking and gave the company a “hold” rating in a report on Friday, August 10th. ValuEngine upgraded shares of Booking from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Finally, SunTrust Banks restated a “buy” rating and set a $2,300.00 target price on shares of Booking in a report on Thursday, August 9th. Thirteen equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $2,155.87.
Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Monday, November 5th. The business services provider reported $37.78 earnings per share for the quarter, missing analysts’ consensus estimates of $38.37 by ($0.59). The business had revenue of $4.85 billion for 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 company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $34.43 earnings per share. As a group, equities research analysts anticipate that Booking Holdings Inc. will post 89.73 EPS for the current year.
In other Booking news, CEO Gillian Tans sold 295 shares of Booking stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $1,917.94, for a total transaction of $565,792.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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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