First Republic Investment Management Inc. Increases Stake in Booking Holdings Inc. (BKNG)

First Republic Investment Management Inc. grew its position in Booking Holdings Inc. (NASDAQ:BKNG) by 95.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,164 shares of the business services provider’s stock after acquiring an additional 4,954 shares during the period. First Republic Investment Management Inc.’s holdings in Booking were worth $20,166,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in BKNG. Morgan Stanley lifted its stake in shares of Booking by 30.9% in the 2nd quarter. Morgan Stanley now owns 993,158 shares of the business services provider’s stock valued at $2,013,218,000 after acquiring an additional 234,246 shares during the last quarter. FMR LLC increased its holdings in Booking by 14.6% in the second quarter. FMR LLC now owns 1,428,678 shares of the business services provider’s stock valued at $2,896,058,000 after purchasing an additional 181,931 shares during the period. Egerton Capital UK LLP acquired a new stake in Booking in the second quarter valued at $335,358,000. Alliancebernstein L.P. increased its holdings in Booking by 29.8% in the third quarter. Alliancebernstein L.P. now owns 641,864 shares of the business services provider’s stock valued at $1,273,458,000 after purchasing an additional 147,415 shares during the period. Finally, Standard Life Aberdeen plc increased its holdings in Booking by 357.8% in the third quarter. Standard Life Aberdeen plc now owns 183,376 shares of the business services provider’s stock valued at $364,230,000 after purchasing an additional 143,321 shares during the period. Institutional investors own 92.54% of the company’s stock.

A number of analysts recently weighed in on BKNG shares. UBS Group upgraded Booking from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2,060.00 to $2,320.00 in a report on Friday, August 10th. JPMorgan Chase & Co. downgraded Booking from an “overweight” rating to a “neutral” rating in a report on Friday, August 10th. Citigroup downgraded Booking from a “buy” rating to a “neutral” rating in a report on Friday, August 10th. Mizuho decreased their price objective on Booking to $2,400.00 and set a “buy” rating for the company in a report on Friday, August 10th. Finally, DA Davidson set a $1,990.00 price objective on Booking and gave the company a “hold” rating in a report on Friday, August 10th. Eleven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Booking presently has a consensus rating of “Buy” and an average target price of $2,157.57.

Shares of Booking stock opened at $1,834.51 on Friday. The stock has a market cap of $87.20 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.49 and a beta of 1.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.41 and a quick ratio of 2.41. Booking Holdings Inc. has a 1-year low of $1,712.74 and a 1-year high of $2,228.99.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Monday, November 5th. The business services provider reported $37.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $38.37 by ($0.59). The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.81 billion. Booking had a return on equity of 26.87% and a net margin of 19.81%. Booking’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $34.43 EPS. On average, sell-side analysts forecast that Booking Holdings Inc. will post 89.69 earnings per share for the current year.

In other news, CEO Gillian Tans sold 295 shares of the stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $1,803.58, for a total transaction of $532,056.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 883 shares of company stock worth $1,646,347 in the last three months. Insiders own 0.24% of the company’s stock.

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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.

Further Reading: Coverage Ratio

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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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