Institute for Wealth Management LLC. Raises Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

Institute for Wealth Management LLC. boosted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 373 shares of the business services provider’s stock after purchasing an additional 27 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Booking were worth $594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James Trust N.A. lifted its position in Booking by 25.3% during the 2nd quarter. Raymond James Trust N.A. now owns 866 shares of the business services provider’s stock worth $1,379,000 after acquiring an additional 175 shares during the period. Two Sigma Advisers LP acquired a new stake in Booking during the 1st quarter worth approximately $9,553,000. Echo Street Capital Management LLC acquired a new stake in Booking during the 1st quarter worth approximately $33,285,000. Zeke Capital Advisors LLC acquired a new stake in Booking during the 2nd quarter worth approximately $301,000. Finally, Harbor Investment Advisory LLC lifted its position in Booking by 6.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 139 shares of the business services provider’s stock worth $221,000 after acquiring an additional 9 shares during the period. Institutional investors own 91.84% of the company’s stock.

Shares of NASDAQ BKNG traded down $25.61 during mid-day trading on Friday, hitting $1,662.13. 305,241 shares of the stock were exchanged, compared to its average volume of 314,906. The company has a market cap of $68.03 billion, a P/E ratio of 21.11, a PEG ratio of 8.28 and a beta of 1.05. The stock’s fifty day simple moving average is $1,663.67 and its two-hundred day simple moving average is $1,633.17. The company has a debt-to-equity ratio of 2.35, a quick ratio of 2.24 and a current ratio of 2.24. Booking Holdings Inc. has a twelve month low of $1,107.29 and a twelve month high of $2,094.00.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Thursday, May 7th. The business services provider reported $3.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $6.12 by ($2.35). Booking had a return on equity of 78.22% and a net margin of 23.43%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business posted $11.17 EPS. The business’s quarterly revenue was down 19.4% on a year-over-year basis. As a group, equities research analysts predict that Booking Holdings Inc. will post 17.72 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on BKNG shares. Barclays reissued a “buy” rating and set a $1,610.00 target price on shares of Booking in a research note on Thursday, April 16th. Morgan Stanley reissued an “equal weight” rating and set a $1,560.00 target price (up from $1,030.00) on shares of Booking in a research note on Wednesday, June 3rd. Cfra cut their target price on Booking from $1,800.00 to $1,550.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Stifel Nicolaus cut their target price on Booking from $1,550.00 to $1,450.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Finally, Citigroup cut their target price on Booking from $2,000.00 to $1,700.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Nineteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $1,718.61.

About Booking

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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