Booking (NASDAQ:BKNG) Sets New 1-Year Low – Here’s Why

Shares of Booking Holdings Inc. (NASDAQ:BKNG) reached a new 52-week low on Friday . The company traded as low as $4,080.25 and last traded at $4,162.2660, with a volume of 92539 shares changing hands. The stock had previously closed at $4,159.10.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BKNG shares. Jefferies Financial Group lowered their price objective on shares of Booking from $5,800.00 to $5,600.00 and set a “hold” rating on the stock in a research note on Friday, January 23rd. HSBC lifted their price target on shares of Booking from $7,447.00 to $7,656.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Mizuho raised shares of Booking from a “neutral” rating to an “outperform” rating and set a $6,000.00 price objective for the company in a research report on Wednesday, February 4th. Benchmark raised their target price on Booking from $6,200.00 to $6,400.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Robert W. Baird set a $6,325.00 target price on Booking in a research report on Wednesday, October 29th. Twenty-eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6,171.56.

Booking Price Performance

The firm’s 50-day moving average price is $5,140.62 and its 200-day moving average price is $5,242.37. The stock has a market cap of $132.74 billion, a P/E ratio of 26.77, a PEG ratio of 0.93 and a beta of 1.21.

Insider Activity

In related news, Director Robert J. Mylod, Jr. sold 40 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $5,105.36, for a total value of $204,214.40. Following the completion of the transaction, the director directly owned 840 shares of the company’s stock, valued at approximately $4,288,502.40. This trade represents a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Glenn D. Fogel sold 953 shares of Booking stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $5,181.34, for a total transaction of $4,937,817.02. Following the completion of the transaction, the chief executive officer directly owned 19,615 shares of the company’s stock, valued at $101,631,984.10. The trade was a 4.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,124 shares of company stock worth $16,194,538. 0.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BKNG. Jones Financial Companies Lllp boosted its stake in Booking by 7.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 6,914 shares of the business services provider’s stock valued at $38,132,000 after purchasing an additional 492 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in Booking by 15.6% during the 2nd 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 last quarter. Donaldson Capital Management LLC lifted its holdings in Booking by 59.6% in the third quarter. Donaldson Capital Management LLC now owns 1,119 shares of the business services provider’s stock valued at $6,042,000 after acquiring an additional 418 shares during the period. Panagora Asset Management Inc. raised its position in Booking by 67.3% in the second quarter. Panagora Asset Management Inc. now owns 30,210 shares of the business services provider’s stock worth $174,893,000 after acquiring an additional 12,148 shares during the period. Finally, GRIMES & Co WEALTH MANAGEMENT LLC lifted its position in Booking by 339.0% during the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 180 shares of the business services provider’s stock valued at $974,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.