Waddell & Reed Financial Inc. Trims Stake in Booking Holdings Inc. (BKNG)
Waddell & Reed Financial Inc. trimmed its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 18.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,985 shares of the business services provider’s stock after selling 5,035 shares during the quarter. Waddell & Reed Financial Inc.’s holdings in Booking were worth $46,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in BKNG. BlackRock Inc. acquired a new stake in shares of Booking during the 1st quarter valued at about $6,448,282,000. Edgewood Management LLC acquired a new stake in shares of Booking during the 1st quarter valued at about $1,378,227,000. Northern Trust Corp acquired a new stake in shares of Booking during the 1st quarter valued at about $1,158,506,000. Summit Trail Advisors LLC acquired a new stake in shares of Booking during the 1st quarter valued at about $458,000. Finally, Brown Advisory Inc. acquired a new stake in shares of Booking during the 1st quarter valued at about $616,639,000. Institutional investors and hedge funds own 93.04% of the company’s stock.
Several brokerages have recently issued reports on BKNG. Benchmark lowered Booking from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. Zacks Investment Research upgraded Booking from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Morgan Stanley reiterated an “overweight” rating and set a $2,200.00 price target (up from $2,100.00) on shares of Booking in a report on Wednesday, July 11th. SunTrust Banks reiterated a “buy” rating and set a $2,300.00 price target on shares of Booking in a report on Tuesday, July 10th. Finally, Mizuho reduced their target price on Booking to $2,400.00 and set a “buy” rating for the company in a report on Friday, August 10th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Booking has a consensus rating of “Buy” and an average target price of $2,154.45.
Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, August 9th. The business services provider reported $20.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $17.34 by $3.33. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.45 billion. Booking had a return on equity of 24.74% and a net margin of 20.07%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the business posted $24.39 EPS. research analysts forecast that Booking Holdings Inc. will post 89.26 earnings per share for the current fiscal year.
In other Booking news, CEO Gillian Tans sold 295 shares of Booking stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $2,030.98, for a total value of $599,139.10. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.24% of the company’s stock.
Booking Company 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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