Quest Investment Management LLC increased its position in Booking Holdings Inc. (NASDAQ:BKNG) by 16.3% during the second quarter, HoldingsChannel.com reports. The fund owned 6,272 shares of the business services provider’s stock after purchasing an additional 879 shares during the quarter. Booking comprises approximately 1.9% of Quest Investment Management LLC’s investment portfolio, making the stock its 29th largest position. Quest Investment Management LLC’s holdings in Booking were worth $12,714,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Highland Capital Management LP acquired a new stake in shares of Booking in the 1st quarter worth about $2,080,000. Professional Planning acquired a new stake in shares of Booking in the 1st quarter worth about $214,000. Wesbanco Bank Inc. acquired a new stake in shares of Booking in the 1st quarter worth about $233,000. Douglass Winthrop Advisors LLC increased its holdings in shares of Booking by 2.5% in the 2nd quarter. Douglass Winthrop Advisors LLC now owns 16,162 shares of the business services provider’s stock worth $32,762,000 after acquiring an additional 401 shares during the period. Finally, Gabelli Funds LLC acquired a new stake in shares of Booking in the 1st quarter worth about $6,116,000. 91.50% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on BKNG shares. Zacks Investment Research cut shares of Booking from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $2,200.00 price objective (up previously from $2,100.00) on shares of Booking in a report on Wednesday, July 11th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $2,050.00 price objective on shares of Booking in a report on Monday, May 7th. SunTrust Banks reaffirmed a “buy” rating and issued a $2,300.00 price objective on shares of Booking in a report on Tuesday, July 10th. Finally, Benchmark cut shares of Booking from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. Thirteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Booking presently has a consensus rating of “Buy” and an average target price of $2,154.45.
Booking stock opened at $1,897.66 on Friday. The stock has a market cap of $93.57 billion, a price-to-earnings ratio of 24.64, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.14 and a current ratio of 2.14. Booking Holdings Inc. has a 52 week low of $1,630.56 and a 52 week high of $2,228.99.
Booking (NASDAQ:BKNG) last released its earnings results on Thursday, August 9th. The business services provider reported $20.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $17.34 by $3.33. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Booking had a net margin of 20.07% and a return on equity of 24.14%. Booking’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the company earned $24.39 EPS. research analysts forecast that Booking Holdings Inc. will post 88.65 earnings per share for the current year.
In other news, CEO Gillian Tans sold 295 shares of Booking stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $2,030.98, for a total value of $599,139.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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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