M&T Bank Corp Reduces Holdings in Booking Holdings Inc. (BKNG)

M&T Bank Corp lessened its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,750 shares of the business services provider’s stock after selling 1,162 shares during the quarter. M&T Bank Corp’s holdings in Booking were worth $28,851,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Moody National Bank Trust Division acquired a new position in Booking in the 4th quarter valued at approximately $53,000. CKW Financial Group acquired a new position in Booking in the 4th quarter valued at approximately $78,000. Ayalon Holdings Ltd. acquired a new position in Booking in the 4th quarter valued at approximately $84,000. ETF Managers Group LLC increased its stake in Booking by 19.2% in the 4th quarter. ETF Managers Group LLC now owns 62 shares of the business services provider’s stock valued at $107,000 after buying an additional 10 shares during the period. Finally, LFA Lugano Financial Advisors SA acquired a new position in Booking in the 3rd quarter valued at approximately $109,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

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Shares of NASDAQ BKNG traded down $19.07 during trading hours on Wednesday, hitting $1,883.19. 48,874 shares of the stock were exchanged, compared to its average volume of 435,831. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.99. The company has a market cap of $86.22 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.36 and a beta of 1.14. Booking Holdings Inc. has a one year low of $1,606.27 and a one year high of $2,228.99.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Monday, November 5th. The business services provider reported $37.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $38.37 by ($0.59). The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.81 billion. Booking had a return on equity of 26.87% and a net margin of 19.81%. Booking’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $34.43 earnings per share. Equities research analysts forecast that Booking Holdings Inc. will post 89.58 EPS for the current fiscal year.

Several research firms have weighed in on BKNG. Deutsche Bank upgraded shares of Booking from a “hold” rating to a “buy” rating and upped their price objective for the company from $2,150.00 to $2,370.00 in a research note on Tuesday. Evercore ISI began coverage on shares of Booking in a research note on Monday, October 15th. They issued an “in-line” rating and a $1,930.00 price objective on the stock. Barclays reiterated an “overweight” rating and issued a $2,360.00 price objective (up previously from $2,300.00) on shares of Booking in a research note on Tuesday, November 6th. Jefferies Financial Group downgraded shares of Booking from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $2,240.00 target price (up from $2,100.00) on shares of Booking in a research report on Tuesday, November 6th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Booking currently has a consensus rating of “Buy” and an average target price of $2,155.39.

In related news, CEO Gillian Tans sold 294 shares of the company’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $1,796.66, for a total transaction of $528,218.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 881 shares of company stock valued at $1,575,047. 0.24% of the stock is owned by insiders.

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About Booking

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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