Laurel Grove Capital LLC Reduces Holdings in Booking Holdings Inc. (BKNG)

Laurel Grove Capital LLC cut its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,906 shares of the business services provider’s stock after selling 84 shares during the quarter. Booking comprises 2.9% of Laurel Grove Capital LLC’s portfolio, making the stock its 6th biggest position. Laurel Grove Capital LLC’s holdings in Booking were worth $5,766,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Sentry Investment Management LLC boosted its holdings in Booking by 28.5% in the second quarter. Sentry Investment Management LLC now owns 4,641 shares of the business services provider’s stock valued at $9,408,000 after purchasing an additional 1,030 shares during the last quarter. Highland Capital Management LP purchased a new position in Booking in the first quarter valued at about $2,080,000. Baltimore Washington Financial Advisors Inc. boosted its holdings in Booking by 0.9% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 4,364 shares of the business services provider’s stock valued at $8,846,000 after purchasing an additional 37 shares during the last quarter. Investment House LLC boosted its holdings in Booking by 1.2% in the third quarter. Investment House LLC now owns 5,396 shares of the business services provider’s stock valued at $10,706,000 after purchasing an additional 64 shares during the last quarter. Finally, Professional Planning purchased a new position in Booking in the first quarter valued at about $214,000. Institutional investors own 92.82% of the company’s stock.

NASDAQ:BKNG traded up $26.58 during trading hours on Friday, reaching $1,808.29. 80,065 shares of the stock were exchanged, compared to its average volume of 429,190. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.86. Booking Holdings Inc. has a 52 week low of $1,630.56 and a 52 week high of $2,228.99. The company has a market cap of $94.18 billion, a PE ratio of 23.52, a P/E/G ratio of 1.57 and a beta of 1.25.

Booking (NASDAQ:BKNG) last released its earnings results on Thursday, August 9th. The business services provider reported $20.67 EPS for the quarter, topping analysts’ consensus estimates of $17.34 by $3.33. Booking had a return on equity of 24.74% and a net margin of 20.07%. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the business posted $24.39 EPS. Booking’s quarterly revenue was up 16.9% compared to the same quarter last year. As a group, sell-side analysts expect that Booking Holdings Inc. will post 89.26 EPS for the current fiscal year.

A number of research analysts recently commented on BKNG shares. Benchmark downgraded Booking from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. SunTrust Banks reissued a “buy” rating and issued a $2,300.00 price target on shares of Booking in a report on Tuesday, July 10th. Morgan Stanley reissued an “overweight” rating and issued a $2,200.00 price target (up previously from $2,100.00) on shares of Booking in a report on Wednesday, July 11th. Zacks Investment Research downgraded Booking from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. Finally, Stifel Nicolaus downgraded Booking from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $2,155.08.

In other news, CEO Gillian Tans sold 295 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $1,917.94, for a total transaction of $565,792.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Booking 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.

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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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