StockNews.com Downgrades Booking (NASDAQ:BKNG) to Hold

Booking (NASDAQ:BKNG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

BKNG has been the subject of a number of other reports. Barclays decreased their price target on Booking from $3,900.00 to $3,800.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Susquehanna increased their price target on Booking from $3,600.00 to $4,100.00 and gave the company a “positive” rating in a research note on Monday, February 26th. JMP Securities raised their price objective on Booking from $3,600.00 to $3,950.00 and gave the stock a “market outperform” rating in a research note on Monday, February 26th. Evercore ISI reduced their price objective on Booking from $3,900.00 to $3,800.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Finally, Mizuho raised their price objective on Booking from $3,580.00 to $4,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3,723.41.

Booking Price Performance

BKNG opened at $3,415.64 on Tuesday. The stock’s 50 day moving average price is $3,531.58 and its 200 day moving average price is $3,395.06. The stock has a market cap of $116.20 billion, a P/E ratio of 28.95, a P/E/G ratio of 1.07 and a beta of 1.40. Booking has a 12 month low of $2,456.93 and a 12 month high of $3,918.00.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, February 22nd. The business services provider reported $32.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $29.72 by $2.28. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.71 billion. Booking had a negative return on equity of 751.49% and a net margin of 20.08%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the company posted $24.74 EPS. Equities analysts anticipate that Booking will post 176.1 EPS for the current year.

Insider Buying and Selling

In related news, Director Radakovich Lynn Vojvodich sold 22 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $3,583.07, for a total transaction of $78,827.54. Following the completion of the sale, the director now directly owns 211 shares in the company, valued at $756,027.77. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Booking news, CEO Glenn D. Fogel sold 4,302 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $3,422.75, for a total transaction of $14,724,670.50. Following the transaction, the chief executive officer now directly owns 33,548 shares in the company, valued at $114,826,417. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Radakovich Lynn Vojvodich sold 22 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $3,583.07, for a total value of $78,827.54. Following the transaction, the director now owns 211 shares in the company, valued at $756,027.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,461 shares of company stock worth $18,815,825. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Booking

Institutional investors have recently bought and sold shares of the stock. Activest Wealth Management bought a new position in Booking during the fourth quarter valued at about $25,000. Naples Money Management LLC acquired a new stake in shares of Booking in the fourth quarter valued at about $25,000. ICA Group Wealth Management LLC acquired a new stake in shares of Booking in the fourth quarter valued at about $25,000. Valued Wealth Advisors LLC acquired a new stake in shares of Booking in the fourth quarter valued at about $28,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Booking in the fourth quarter valued at about $28,000. 92.42% of the stock is currently owned by institutional investors.

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.