Cubist Systematic Strategies LLC Lowers Holdings in Booking Holdings Inc. (BKNG)

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Cubist Systematic Strategies LLC decreased its position in Booking Holdings Inc. (NASDAQ:BKNG) by 67.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 496 shares of the business services provider’s stock after selling 1,005 shares during the period. Cubist Systematic Strategies LLC’s holdings in Booking were worth $1,005,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Fortis Advisors LLC purchased a new position in Booking during the first quarter worth about $104,000. MUFG Securities EMEA plc purchased a new position in shares of Booking in the 2nd quarter worth about $109,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Booking by 86.7% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 56 shares of the business services provider’s stock worth $114,000 after purchasing an additional 26 shares during the period. First Personal Financial Services purchased a new position in shares of Booking in the 1st quarter worth about $119,000. Finally, First Manhattan Co. raised its holdings in shares of Booking by 90.0% in the 2nd quarter. First Manhattan Co. now owns 57 shares of the business services provider’s stock worth $115,000 after purchasing an additional 27 shares during the period. 92.82% of the stock is currently owned by institutional investors.

A number of research firms have recently issued reports on BKNG. Barclays raised their price objective on Booking to $2,270.00 in a research note on Thursday, September 27th. They noted that the move was a valuation call. ValuEngine upgraded Booking from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Cowen set a $2,375.00 target price on Booking and gave the stock a “buy” rating in a research report on Saturday, August 11th. Jefferies Financial Group downgraded Booking from a “neutral” rating to a “hold” rating and set a $2,060.00 price target on the stock. in a report on Friday, August 10th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $2,100.00 price target (down previously from $2,250.00) on shares of Booking in a report on Friday, August 10th. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $2,155.08.

In related news, CEO Gillian Tans sold 295 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $1,917.94, for a total transaction of $565,792.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by insiders.

Shares of BKNG stock traded up $25.46 on Friday, reaching $1,807.17. 682,050 shares of the company’s stock traded hands, compared to its average volume of 430,490. The company has a market capitalization of $94.18 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 1.57 and a beta of 1.25. Booking Holdings Inc. has a 12-month low of $1,630.56 and a 12-month high of $2,228.99. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.86.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Thursday, August 9th. The business services provider reported $20.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $17.34 by $3.33. Booking had a return on equity of 24.74% and a net margin of 20.07%. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the firm earned $24.39 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, sell-side analysts predict that Booking Holdings Inc. will post 89.26 EPS for the current year.

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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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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