Concurrent Investment Advisors LLC Lowers Stock Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

Concurrent Investment Advisors LLC lowered its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 139 shares of the business services provider’s stock after selling 5 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Booking were worth $691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Booking during the fourth quarter worth about $25,000. New Wave Wealth Advisors LLC purchased a new stake in Booking in the 4th quarter valued at approximately $25,000. Valley National Advisers Inc. boosted its holdings in Booking by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 6 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Booking in the 4th quarter valued at approximately $42,000. Finally, Addison Advisors LLC boosted its holdings in Booking by 80.0% in the 3rd quarter. Addison Advisors LLC now owns 9 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BKNG. Citigroup lifted their price objective on Booking from $5,500.00 to $5,800.00 and gave the company a “buy” rating in a report on Friday. Benchmark lifted their price objective on Booking from $5,000.00 to $5,900.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer lifted their price objective on Booking from $5,500.00 to $6,000.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Barclays lifted their price objective on Booking from $5,100.00 to $5,600.00 and gave the company an “overweight” rating in a report on Friday. Finally, JMP Securities reiterated a “market outperform” rating and set a $5,400.00 price target on shares of Booking in a research report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Booking has an average rating of “Moderate Buy” and a consensus price target of $5,370.43.

Booking Stock Performance

Shares of BKNG opened at $4,989.22 on Monday. The stock has a fifty day moving average of $4,903.34 and a two-hundred day moving average of $4,568.73. The company has a market capitalization of $165.13 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1.74 and a beta of 1.39. Booking Holdings Inc. has a fifty-two week low of $3,180.00 and a fifty-two week high of $5,337.24.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share for the quarter, beating the consensus estimate of $35.82 by $5.73. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.18 billion. Booking had a negative return on equity of 159.60% and a net margin of 24.78%. As a group, equities research analysts forecast that Booking Holdings Inc. will post 207.62 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.