Logan Capital Management Inc. Sells 194 Shares of Booking Holdings Inc. $BKNG

Logan Capital Management Inc. trimmed its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,932 shares of the business services provider’s stock after selling 194 shares during the period. Logan Capital Management Inc.’s holdings in Booking were worth $11,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BKNG. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Booking by 20.6% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 5,195 shares of the business services provider’s stock worth $30,075,000 after purchasing an additional 888 shares during the last quarter. Rossby Financial LCC grew its holdings in Booking by 23.5% during the second quarter. Rossby Financial LCC now owns 21 shares of the business services provider’s stock worth $122,000 after purchasing an additional 4 shares during the period. SYM FINANCIAL Corp grew its holdings in Booking by 7.0% during the second quarter. SYM FINANCIAL Corp now owns 199 shares of the business services provider’s stock worth $1,152,000 after purchasing an additional 13 shares during the period. Facet Wealth Inc. acquired a new position in Booking during the second quarter worth approximately $259,000. Finally, Y Intercept Hong Kong Ltd raised its stake in Booking by 15.6% in the second quarter. Y Intercept Hong Kong Ltd now owns 511 shares of the business services provider’s stock valued at $2,958,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BKNG shares. DA Davidson lifted their target price on Booking from $5,750.00 to $6,500.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Wedbush reaffirmed a “neutral” rating and set a $5,900.00 price target on shares of Booking in a report on Wednesday, July 30th. Truist Financial upgraded shares of Booking from a “hold” rating to a “buy” rating and upped their price objective for the company from $5,630.00 to $5,750.00 in a report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Booking in a research note on Tuesday, October 14th. Finally, B. Riley reaffirmed a “buy” rating and set a $6,700.00 target price (up previously from $6,100.00) on shares of Booking in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Booking presently has an average rating of “Moderate Buy” and an average target price of $6,014.85.

Insiders Place Their Bets

In related news, CEO Glenn D. Fogel sold 1,013 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $5,516.92, for a total transaction of $5,588,639.96. Following the sale, the chief executive officer owned 23,607 shares of the company’s stock, valued at $130,237,930.44. This represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vanessa Ames Wittman sold 15 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $5,291.98, for a total value of $79,379.70. Following the transaction, the director owned 732 shares in the company, valued at approximately $3,873,729.36. This trade represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,197 shares of company stock worth $17,260,963 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

Booking Stock Performance

BKNG opened at $5,254.40 on Tuesday. The stock has a fifty day moving average of $5,427.23 and a 200-day moving average of $5,378.47. The company has a market capitalization of $170.30 billion, a P/E ratio of 36.54, a P/E/G ratio of 1.59 and a beta of 1.35. Booking Holdings Inc. has a fifty-two week low of $4,096.23 and a fifty-two week high of $5,839.41.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $55.40 EPS for the quarter, topping analysts’ consensus estimates of $50.32 by $5.08. Booking had a net margin of 19.23% and a negative return on equity of 134.19%. The business had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same period last year, the firm earned $41.90 earnings per share. Booking’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities research analysts predict that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal 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.