Park Avenue Securities LLC reduces its position in Booking Holdings Inc. (NASDAQ:BKNG)


Park Avenue Securities LLC reduced its stake in Booking Holdings Inc. (NASDAQ:BKNGGet a rating) by 5.6% during the 1st quarter, according to the company in its latest filing with the Securities & Exchange Commission. The institutional investor held 202 shares of the business services provider after selling 12 shares during the period. Park Avenue Securities LLC’s holdings in Booking were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently changed their stakes in the company. KLK Capital Management LLC bought a new stake in shares of Booking in Q1 worth approximately $801,000. Daiwa Securities Group Inc. increased its position in Booking shares by 7.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 5,156 shares of the business services provider valued at $12,108,000 after buying 376 additional shares in the last quarter. First Bank & Trust increased its position in Booking shares by 8.8% in the first quarter. First Bank & Trust now owns 123 shares of the business services provider valued at $289,000 after buying 10 more shares in the last quarter. Nisa Investment Advisors LLC increased its position in Booking shares by 0.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 15,239 shares of the business services provider valued at $35,788,000 after buying 48 additional shares in the last quarter. Finally, Navalign LLC purchased a new stock position in Booking during Q1 valued at approximately $709,000. Hedge funds and other institutional investors own 89.48% of the company’s shares.

Analysts set new price targets

BKNG has been the subject of several recent research reports. Evercore ISI reduced its price target on Booking from $3,000.00 to $2,600.00 and set an “outperform” rating on the stock in a Thursday, July 7 research report. Truist Financial reduced its price target when booking from $3,000.00 to $2,600.00 and set a “buy” rating on the stock in a research report Thursday, July 14. Tigress Financial raised its price target on Booking from $3,150.00 to $3,210.00 and gave the company a “Strong Buy” rating in a Tuesday, April 19 research report. Credit Suisse Group raised its price target on Booking from $2,850.00 to $2,985.00 in a research report on Thursday, May 5. Finally, JMP Securities reduced its price target on Booking from $2,750.00 to $2,300.00 and set a “market outperformance” rating on the stock in a Wednesday, June 22 research report. Eight analysts gave the stock a hold rating, twenty gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,690.10.

Insider buying and selling in Booking

In other Booking news, the CEO Glenn D. Fogel sold 200 shares of Booking in a trade on Wednesday, June 15. The stock was sold at an average price of $2,000.20, for a total transaction of $400,040.00. Following completion of the transaction, the CEO now owns 48,315 shares of the company, valued at $96,639,663. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. In other Booking news, CEO Glenn D. Fogel sold 200 shares of Booking in a trade on Wednesday, June 15. The stock was sold at an average price of $2,000.20, for a total transaction of $400,040.00. Following completion of the transaction, the CEO now owns 48,315 shares of the company, valued at $96,639,663. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Also, CFO David I. Goulden sold 150 shares of Booking in a trade on Wednesday, June 15. The shares were sold at an average price of $2,000.13, for a total value of $300,019.50. Following the transaction, the CFO now owns 6,269 shares of the company, valued at approximately $12,538,814.97. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 470 shares of the company worth $952,060. 0.24% of the shares are held by insiders.

Trading in reservations down 1.1%

BKNG opened at $1,809.88 on Monday. The stock has a market capitalization of $73.52 billion, a PE ratio of 146.43, a PEG ratio of 1.13 and a beta of 1.25. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt ratio of 2.12. The company has a 50-day moving average of $1,976.30 and a 200-day moving average of $2,177.76. Booking Holdings Inc. has a 52-week low of $1,669.34 and a 52-week high of $2,715.66.

Reservation (NASDAQ:BKNGGet a rating) last reported results on Wednesday, May 4. The business services provider reported EPS of $3.90 for the quarter, beating analyst consensus estimates of $0.14 ($0.14) of $4.04. The company posted revenue of $2.70 billion in the quarter, compared to $2.53 billion expected by analysts. Booking had a return on equity of 43.44% and a net margin of 4.16%. The company’s revenue for the quarter increased by 136.6% compared to the same quarter last year. During the same quarter last year, the company posted EPS ($5.26). Equity research analysts expect Booking Holdings Inc. to post earnings per share of 99.39 for the current fiscal year.

Booking profile

(Get a rating)

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of online travel and restaurant reservations and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with travel service providers around the world. It offers consumers a range of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its brands Booking.com, priceline.com and agoda.com.

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Institutional Ownership by Quarter for Reservation (NASDAQ: BKNG)



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