Kornitzer Capital Management Inc. KS Has $24.58 Million Stake in Booking Holdings Inc. $BKNG

Kornitzer Capital Management Inc. KS reduced its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,552 shares of the business services provider’s stock after selling 118 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Booking were worth $24,577,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Y Intercept Hong Kong Ltd raised its holdings in shares of Booking by 15.6% during the second quarter. Y Intercept Hong Kong Ltd now owns 511 shares of the business services provider’s stock worth $2,958,000 after acquiring an additional 69 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Booking by 18.6% during the 2nd quarter. Vontobel Holding Ltd. now owns 75,534 shares of the business services provider’s stock worth $437,284,000 after purchasing an additional 11,829 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Booking by 67.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 30,210 shares of the business services provider’s stock worth $174,893,000 after purchasing an additional 12,148 shares in the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC lifted its holdings in shares of Booking by 339.0% during the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 180 shares of the business services provider’s stock valued at $974,000 after buying an additional 139 shares during the last quarter. Finally, Covey Capital Advisors LLC grew its stake in shares of Booking by 1.0% in the 2nd quarter. Covey Capital Advisors LLC now owns 1,117 shares of the business services provider’s stock valued at $6,467,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BKNG. Bank of America raised shares of Booking from a “neutral” rating to a “buy” rating and set a $6,000.00 price objective on the stock in a research report on Monday, November 24th. Mizuho set a $6,000.00 price objective on shares of Booking in a research note on Wednesday, October 29th. HSBC upped their price objective on shares of Booking from $7,447.00 to $7,656.00 and gave the stock a “buy” rating in a report on Friday, January 9th. UBS Group set a $6,806.00 price objective on shares of Booking and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, KeyCorp raised their target price on shares of Booking from $6,450.00 to $6,630.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and a consensus price target of $6,209.94.

Insider Activity at Booking

In other news, CEO Glenn D. Fogel sold 953 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $5,181.34, for a total transaction of $4,937,817.02. Following the sale, the chief executive officer directly owned 19,615 shares in the company, valued at approximately $101,631,984.10. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Vanessa Ames Wittman sold 15 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $5,191.15, for a total value of $77,867.25. Following the completion of the transaction, the director owned 687 shares of the company’s stock, valued at $3,566,320.05. The trade was a 2.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,324 shares of company stock worth $17,190,323 in the last three months. 0.16% of the stock is owned by insiders.

Booking Price Performance

NASDAQ BKNG opened at $5,107.28 on Tuesday. The company’s fifty day moving average is $5,197.07 and its two-hundred day moving average is $5,330.67. Booking Holdings Inc. has a 52-week low of $4,096.23 and a 52-week high of $5,839.41. The firm has a market capitalization of $164.61 billion, a price-to-earnings ratio of 33.19, a P/E/G ratio of 1.11 and a beta of 1.23.

Booking (NASDAQ:BKNG) last released its earnings results on Tuesday, October 28th. The business services provider reported $99.50 earnings per share for the quarter, beating the consensus estimate of $95.56 by $3.94. Booking had a net margin of 19.37% and a negative return on equity of 134.86%. The business had revenue of $9.01 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the company earned $83.39 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts expect that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.