Traders Buy Booking (BKNG) on Weakness Following Insider Selling
Investors purchased shares of Booking Holdings Inc. (NASDAQ:BKNG) on weakness during trading hours on Thursday following insider selling activity. $161.37 million flowed into the stock on the tick-up and $96.33 million flowed out of the stock on the tick-down, for a money net flow of $65.04 million into the stock. Of all equities tracked, Booking had the 9th highest net in-flow for the day. Booking traded down ($38.80) for the day and closed at $1,811.71Specifically, CEO Gillian Tans sold 295 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $1,803.58, for a total transaction of $532,056.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.
BKNG has been the subject of several research analyst reports. UBS Group upgraded Booking from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2,060.00 to $2,320.00 in a research report on Friday, August 10th. Mizuho lowered their price target on Booking to $2,400.00 and set a “buy” rating for the company in a research report on Friday, August 10th. ValuEngine upgraded Booking from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Piper Jaffray Companies restated an “overweight” rating and set a $2,100.00 price target on shares of Booking in a research report on Thursday, August 9th. Finally, Zacks Investment Research upgraded Booking from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $2,145.70.
The firm has a market cap of $94.18 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.86.
A number of large investors have recently added to or reduced their stakes in BKNG. MUFG Securities EMEA plc acquired a new stake in Booking in the second quarter valued at $109,000. LFA Lugano Financial Advisors SA acquired a new stake in Booking in the third quarter valued at $109,000. Harvest Fund Management Co. Ltd raised its stake in Booking by 86.7% in the second quarter. Harvest Fund Management Co. Ltd now owns 56 shares of the business services provider’s stock valued at $114,000 after buying an additional 26 shares in the last quarter. First Manhattan Co. raised its stake in Booking by 90.0% in the second quarter. First Manhattan Co. now owns 57 shares of the business services provider’s stock valued at $115,000 after buying an additional 27 shares in the last quarter. Finally, WealthTrust Fairport LLC acquired a new stake in Booking in the first quarter valued at $121,000. Hedge funds and other institutional investors own 92.82% of the company’s stock.
Booking Company Profile (NASDAQ:BKNG)
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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