United Services Automobile Association Trims Stake in Booking Holdings Inc. (BKNG)

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United Services Automobile Association reduced its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 8.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,331 shares of the business services provider’s stock after selling 3,883 shares during the period. United Services Automobile Association owned approximately 0.09% of Booking worth $83,782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parsons Capital Management Inc. RI bought a new stake in shares of Booking during the first quarter worth $3,233,000. Gamco Investors INC. ET AL bought a new stake in shares of Booking during the first quarter worth $755,000. First Republic Investment Management Inc. bought a new stake in shares of Booking during the first quarter worth $1,279,000. New York State Common Retirement Fund bought a new stake in shares of Booking during the first quarter worth $307,600,000. Finally, Flinton Capital Management LLC bought a new stake in shares of Booking during the first quarter worth $1,398,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

In other news, CEO Gillian Tans sold 295 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $1,803.58, for a total transaction of $532,056.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by corporate insiders.

A number of analysts have weighed in on BKNG shares. Barclays boosted their target price on shares of Booking to $2,270.00 in a research note on Thursday, September 27th. They noted that the move was a valuation call. Credit Suisse Group reissued a “buy” rating and issued a $2,100.00 price objective (down previously from $2,250.00) on shares of Booking in a research note on Friday, August 10th. Mizuho reduced their price objective on shares of Booking to $2,400.00 and set a “buy” rating on the stock in a research note on Friday, August 10th. UBS Group raised shares of Booking from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2,060.00 to $2,320.00 in a research note on Friday, August 10th. Finally, SunTrust Banks reissued a “buy” rating and issued a $2,300.00 price objective on shares of Booking in a research note on Thursday, August 9th. Fourteen 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 stock. Booking has an average rating of “Buy” and an average target price of $2,145.70.

BKNG traded down $5.97 during trading on Friday, reaching $1,805.74. 261,056 shares of the stock traded hands, compared to its average volume of 416,171. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $86.01 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 1.43 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.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, August 9th. The business services provider reported $20.67 EPS for the quarter, beating the Zacks’ consensus estimate of $17.34 by $3.33. Booking had a net margin of 20.07% and a return on equity of 24.74%. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the prior year, the firm posted $24.39 earnings per share. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. As a group, research analysts predict that Booking Holdings Inc. will post 89.5 EPS for the current fiscal year.

Booking 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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