Booking (NASDAQ:BKNG) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Booking (NASDAQ:BKNGFree Report) from a buy rating to a hold rating in a research note released on Wednesday.

BKNG has been the subject of a number of other reports. Wedbush reissued an outperform rating and issued a $3,850.00 target price on shares of Booking in a report on Tuesday, April 30th. DA Davidson raised their target price on shares of Booking from $4,100.00 to $4,150.00 and gave the company a buy rating in a report on Friday, May 3rd. Bank of America raised their target price on shares of Booking from $3,900.00 to $3,950.00 and gave the company a neutral rating in a report on Friday, May 3rd. Wells Fargo & Company raised their target price on shares of Booking from $3,494.00 to $3,497.00 and gave the company an equal weight rating in a report on Tuesday. Finally, BMO Capital Markets reissued an outperform rating and issued a $4,205.00 target price (up from $4,150.00) on shares of Booking in a report on Friday, May 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Booking has an average rating of Moderate Buy and an average target price of $3,914.00.

View Our Latest Analysis on BKNG

Booking Price Performance

BKNG stock opened at $3,990.05 on Wednesday. Booking has a 1-year low of $2,733.04 and a 1-year high of $4,040.00. The company has a market capitalization of $135.38 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.19 and a beta of 1.38. The business has a 50 day simple moving average of $3,831.67 and a two-hundred day simple moving average of $3,650.80.

Booking (NASDAQ:BKNGGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $20.39 earnings per share for the quarter, topping the consensus estimate of $14.03 by $6.36. Booking had a negative return on equity of 288.35% and a net margin of 21.81%. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same period in the prior year, the company posted $11.60 EPS. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. Sell-side analysts anticipate that Booking will post 178.54 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $8.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $35.00 dividend on an annualized basis and a yield of 0.88%. Booking’s dividend payout ratio is currently 26.25%.

Insider Activity at Booking

In related news, CEO Glenn D. Fogel sold 750 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $3,534.10, for a total value of $2,650,575.00. Following the sale, the chief executive officer now owns 26,971 shares in the company, valued at $95,318,211.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Radakovich Lynn Vojvodich sold 22 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $3,583.07, for a total value of $78,827.54. Following the sale, the director now owns 211 shares in the company, valued at $756,027.77. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Glenn D. Fogel sold 750 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $3,534.10, for a total value of $2,650,575.00. Following the completion of the sale, the chief executive officer now owns 26,971 shares in the company, valued at approximately $95,318,211.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,021 shares of company stock worth $3,617,852 over the last quarter. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BKNG. Creative Planning lifted its holdings in Booking by 21.1% in the third quarter. Creative Planning now owns 3,109 shares of the business services provider’s stock valued at $9,587,000 after acquiring an additional 541 shares during the period. Modera Wealth Management LLC lifted its holdings in Booking by 0.7% in the third quarter. Modera Wealth Management LLC now owns 822 shares of the business services provider’s stock valued at $2,536,000 after acquiring an additional 6 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Booking by 22.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 471 shares of the business services provider’s stock valued at $1,451,000 after acquiring an additional 85 shares during the period. Sylebra Capital LLC acquired a new position in Booking in the third quarter valued at approximately $44,082,000. Finally, Sunbelt Securities Inc. raised its stake in shares of Booking by 3.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 440 shares of the business services provider’s stock worth $1,357,000 after buying an additional 13 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

Booking Company Profile

(Get Free Report)

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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Analyst Recommendations for Booking (NASDAQ:BKNG)

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