Booking (NASDAQ:BKNG) Shares Down 4.4% After Analyst Downgrade

Booking Holdings Inc. (NASDAQ:BKNGGet Rating) was down 4.4% on Thursday after Morgan Stanley lowered their price target on the stock from $2,820.00 to $2,100.00. Morgan Stanley currently has an equal weight rating on the stock. Booking traded as low as $1,807.16 and last traded at $1,807.16. Approximately 2,701 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 372,260 shares. The stock had previously closed at $1,889.84.

BKNG has been the topic of several other research reports. Tigress Financial raised their target price on Booking from $3,150.00 to $3,210.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 19th. Evercore ISI raised their target price on Booking from $2,900.00 to $3,000.00 in a research report on Thursday, May 5th. Gordon Haskett upgraded Booking from a “hold” rating to a “buy” rating in a research report on Thursday, February 24th. Credit Suisse Group raised their target price on Booking from $2,850.00 to $2,985.00 in a research report on Thursday, May 5th. Finally, The Goldman Sachs Group reduced their price objective on Booking from $2,460.00 to $2,360.00 and set a “neutral” rating on the stock in a research report on Thursday, June 9th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,726.48.

In other news, insider Paulo Pisano sold 120 shares of Booking stock in a transaction on Friday, May 20th. The stock was sold at an average price of $2,100.00, for a total value of $252,000.00. Following the completion of the sale, the insider now directly owns 3,003 shares of the company’s stock, valued at $6,306,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Glenn D. Fogel sold 750 shares of Booking stock in a transaction on Monday, April 18th. The shares were sold at an average price of $2,199.81, for a total value of $1,649,857.50. Following the completion of the sale, the chief executive officer now directly owns 49,265 shares of the company’s stock, valued at $108,373,639.65. The disclosure for this sale can be found here. Insiders sold 1,403 shares of company stock valued at $3,006,347 over the last ninety days. Insiders own 0.24% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Saturna Capital CORP grew its stake in Booking by 2.6% during the 4th quarter. Saturna Capital CORP now owns 158 shares of the business services provider’s stock worth $379,000 after purchasing an additional 4 shares in the last quarter. Enterprise Financial Services Corp grew its stake in Booking by 2.4% during the 4th quarter. Enterprise Financial Services Corp now owns 169 shares of the business services provider’s stock worth $405,000 after purchasing an additional 4 shares in the last quarter. Moors & Cabot Inc. grew its stake in Booking by 2.0% during the 3rd quarter. Moors & Cabot Inc. now owns 250 shares of the business services provider’s stock worth $595,000 after purchasing an additional 5 shares in the last quarter. Summit X LLC grew its stake in Booking by 1.3% during the 4th quarter. Summit X LLC now owns 398 shares of the business services provider’s stock worth $960,000 after purchasing an additional 5 shares in the last quarter. Finally, Bank of The West grew its stake in Booking by 0.3% during the 4th quarter. Bank of The West now owns 1,537 shares of the business services provider’s stock worth $3,688,000 after purchasing an additional 5 shares in the last quarter. 89.48% of the stock is owned by hedge funds and other institutional investors.

The company has a market capitalization of $74.55 billion, a PE ratio of 148.47, a P/E/G ratio of 1.13 and a beta of 1.18. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.12. The stock has a fifty day simple moving average of $2,139.34 and a 200-day simple moving average of $2,257.62.

Booking (NASDAQ:BKNGGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The business services provider reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $4.04. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.53 billion. Booking had a return on equity of 43.44% and a net margin of 4.16%. Booking’s revenue for the quarter was up 136.6% on a year-over-year basis. During the same period in the previous year, the business earned ($5.26) EPS. As a group, equities research analysts predict that Booking Holdings Inc. will post 100.71 EPS for the current year.

About Booking (NASDAQ:BKNG)

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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