Investors Buy Shares of Booking (BKNG) on Weakness After Insider Selling
Traders purchased shares of Booking Holdings Inc. (NASDAQ:BKNG) on weakness during trading hours on Thursday after an insider sold shares in the company. $161.37 million flowed into the stock on the tick-up and $96.33 million flowed out of the stock on the tick-down, for a money net flow of $65.04 million into the stock. Of all stocks tracked, Booking had the 9th highest net in-flow for the day. Booking traded down ($38.80) for the day and closed at $1,811.71Specifically, CEO Gillian Tans sold 295 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on BKNG shares. Zacks Investment Research downgraded Booking from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. Jefferies Financial Group downgraded Booking from a “neutral” rating to a “hold” rating and set a $2,060.00 target price for the company. in a research report on Friday, August 10th. Morgan Stanley reiterated an “overweight” rating and set a $2,200.00 target price (up from $2,100.00) on shares of Booking in a research report on Wednesday, July 11th. Cowen set a $2,375.00 target price on Booking and gave the company a “buy” rating in a research report on Saturday, August 11th. Finally, SunTrust Banks reiterated a “buy” rating and set a $2,300.00 target price on shares of Booking in a research report on Tuesday, July 10th. Fourteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $2,145.70.
The firm has a market cap of $87.85 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 1.47 and a beta of 1.25. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.86.
A number of large investors have recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC purchased a new stake in Booking in the first quarter worth $458,000. Brown Advisory Inc. purchased a new stake in Booking in the first quarter worth $616,639,000. Morgan Stanley increased its stake in Booking by 30.9% in the second quarter. Morgan Stanley now owns 993,158 shares of the business services provider’s stock worth $2,013,218,000 after purchasing an additional 234,246 shares during the period. FMR LLC increased its stake in Booking by 14.6% in the second quarter. FMR LLC now owns 1,428,678 shares of the business services provider’s stock worth $2,896,058,000 after purchasing an additional 181,931 shares during the period. Finally, Egerton Capital UK LLP purchased a new stake in Booking in the second quarter worth $335,358,000. Institutional investors own 92.87% of the company’s stock.
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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