Eagle Ridge Investment Management Purchases New Shares in Booking Holdings Inc. (NASDAQ:BKNG)

Eagle Ridge Investment Management purchased a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,671 shares of the business services provider’s stock, valued at approximately $8,757,000. Booking makes up about 1.3% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 29th largest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sigma Planning Corp increased its holdings in Booking by 9.8% during the 2nd quarter. Sigma Planning Corp now owns 225 shares of the business services provider’s stock valued at $424,000 after purchasing an additional 20 shares in the last quarter. Kavar Capital Partners LLC bought a new position in Booking in the 2nd quarter valued at $114,000. Redmond Asset Management LLC bought a new position in Booking in the 2nd quarter valued at $1,078,000. Watch Point Trust Co boosted its position in Booking by 12.5% in the 2nd quarter. Watch Point Trust Co now owns 2,126 shares of the business services provider’s stock valued at $3,986,000 after buying an additional 236 shares during the last quarter. Finally, Executive Wealth Management LLC boosted its position in Booking by 13.2% in the 2nd quarter. Executive Wealth Management LLC now owns 848 shares of the business services provider’s stock valued at $1,590,000 after buying an additional 99 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

In other Booking news, CEO Gillian Tans sold 606 shares of Booking stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $1,791.14, for a total transaction of $1,085,430.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey E. Epstein sold 250 shares of Booking stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $1,755.75, for a total value of $438,937.50. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

BKNG has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Booking from $1,930.00 to $2,125.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Citigroup upgraded Booking from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $1,800.00 to $1,745.02 in a research report on Thursday, May 23rd. Barclays reiterated an “overweight” rating and issued a $2,140.00 price objective (up from $2,080.00) on shares of Booking in a research report on Thursday, August 8th. Cleveland Research initiated coverage on Booking in a research report on Wednesday, June 19th. They issued a “neutral” rating on the stock. Finally, Cowen reiterated an “outperform” rating and issued a $2,300.00 price objective (up from $2,160.00) on shares of Booking in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $2,066.00.

BKNG stock traded down $1.61 during midday trading on Thursday, hitting $1,889.58. 138,536 shares of the company’s stock were exchanged, compared to its average volume of 324,407. The stock’s fifty day moving average is $1,891.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $81.49 billion, a P/E ratio of 20.41, a PEG ratio of 1.41 and a beta of 1.14. Booking Holdings Inc. has a one year low of $1,606.27 and a one year high of $2,019.48.

Booking (NASDAQ:BKNG) last posted its earnings results on Wednesday, August 7th. The business services provider reported $23.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $22.80 by $0.79. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.78 billion. Booking had a return on equity of 56.70% and a net margin of 28.19%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $20.13 earnings per share. On average, analysts predict that Booking Holdings Inc. will post 101.71 earnings per share 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.

Further Reading: What is Cost of Goods Sold (COGS)?

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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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