Suncoast Equity Management Has $53.47 Million Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

Suncoast Equity Management reduced its position in Booking Holdings Inc. (NASDAQ:BKNG) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,762 shares of the business services provider’s stock after selling 156 shares during the period. Booking accounts for approximately 6.0% of Suncoast Equity Management’s investment portfolio, making the stock its 4th biggest holding. Suncoast Equity Management’s holdings in Booking were worth $53,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mogy Joel R Investment Counsel Inc. raised its stake in Booking by 16.4% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 1,876 shares of the business services provider’s stock valued at $9,321,000 after purchasing an additional 264 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its position in Booking by 55.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 931 shares of the business services provider’s stock valued at $3,921,000 after buying an additional 334 shares during the period. Nordea Investment Management AB grew its stake in Booking by 5.1% in the fourth quarter. Nordea Investment Management AB now owns 179,902 shares of the business services provider’s stock worth $896,455,000 after purchasing an additional 8,735 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Booking by 6.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 5,869 shares of the business services provider’s stock worth $29,160,000 after buying an additional 368 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Booking by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 39,597 shares of the business services provider’s stock valued at $166,787,000 after purchasing an additional 2,010 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BKNG shares. Robert W. Baird began coverage on Booking in a report on Wednesday, November 27th. They issued an “outperform” rating and a $5,850.00 price target on the stock. DA Davidson upped their price target on Booking from $4,100.00 to $5,005.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Mizuho upped their target price on Booking from $5,400.00 to $6,000.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Wells Fargo & Company lowered their price target on Booking from $4,657.00 to $4,470.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $5,400.00 price target on shares of Booking in a report on Wednesday, December 11th. Nine investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $5,044.43.

Booking Stock Performance

BKNG opened at $5,018.23 on Friday. Booking Holdings Inc. has a fifty-two week low of $3,180.00 and a fifty-two week high of $5,337.24. The company has a fifty day moving average of $4,908.11 and a two-hundred day moving average of $4,540.81. The stock has a market capitalization of $166.10 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 1.77 and a beta of 1.39.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating the consensus estimate of $35.82 by $5.73. Booking had a negative return on equity of 166.06% and a net margin of 21.85%. On average, equities research analysts forecast that Booking Holdings Inc. will post 181.63 earnings per share for the current year.

Booking 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.