Cadian Capital Management LP Grows Holdings in Booking Holdings Inc. (BKNG)

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Cadian Capital Management LP raised its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,000 shares of the business services provider’s stock after purchasing an additional 4,060 shares during the period. Booking accounts for approximately 6.5% of Cadian Capital Management LP’s holdings, making the stock its 4th biggest holding. Cadian Capital Management LP’s holdings in Booking were worth $135,815,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BB&T Securities LLC raised its position in shares of Booking by 2.1% in the 2nd quarter. BB&T Securities LLC now owns 9,377 shares of the business services provider’s stock valued at $19,008,000 after acquiring an additional 196 shares during the period. AMP Capital Investors Ltd raised its position in shares of Booking by 15.5% in the 2nd quarter. AMP Capital Investors Ltd now owns 21,542 shares of the business services provider’s stock valued at $43,667,000 after acquiring an additional 2,897 shares during the period. Flinton Capital Management LLC raised its position in shares of Booking by 116.7% in the 2nd quarter. Flinton Capital Management LLC now owns 1,456 shares of the business services provider’s stock valued at $2,952,000 after acquiring an additional 784 shares during the period. Glen Harbor Capital Management LLC raised its position in shares of Booking by 116.7% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 2,548 shares of the business services provider’s stock valued at $5,165,000 after acquiring an additional 1,372 shares during the period. Finally, Van ECK Associates Corp acquired a new stake in shares of Booking in the 2nd quarter valued at approximately $3,866,000. Institutional investors own 93.24% of the company’s stock.

A number of brokerages recently weighed in on BKNG. ValuEngine upgraded shares of Booking from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Cowen set a $2,375.00 target price on Booking and gave the stock a “buy” rating in a research note on Saturday, August 11th. Jefferies Financial Group cut Booking from a “neutral” rating to a “hold” rating and set a $2,060.00 target price for the company. in a research note on Friday, August 10th. Credit Suisse Group reissued a “buy” rating and set a $2,100.00 target price (down from $2,250.00) on shares of Booking in a research note on Friday, August 10th. Finally, DA Davidson set a $1,990.00 target price on Booking and gave the stock a “hold” rating in a research note on Friday, August 10th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Booking currently has an average rating of “Buy” and a consensus target price of $2,154.45.

In other news, CEO Gillian Tans sold 295 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $2,126.07, for a total transaction of $627,190.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

Shares of BKNG opened at $1,892.18 on Thursday. The company has a market cap of $92.64 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 1.55 and a beta of 1.27. Booking Holdings Inc. has a twelve month low of $1,630.56 and a twelve month high of $2,228.99. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.92 and a quick ratio of 1.92.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, August 9th. The business services provider reported $20.67 earnings per share for the quarter, topping the consensus estimate of $17.34 by $3.33. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Booking had a net margin of 20.07% and a return on equity of 24.74%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period last year, the business earned $24.39 EPS. sell-side analysts expect that Booking Holdings Inc. will post 89.06 EPS for the current fiscal year.

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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