Short Interest in Booking Holdings Inc. (NASDAQ:BKNG) Declines By 7.4%

Booking Holdings Inc. (NASDAQ:BKNG) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 1,370,000 shares, a decrease of 7.4% from the April 30th total of 1,480,000 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 682,800 shares, the days-to-cover ratio is presently 2.0 days.

Several large investors have recently made changes to their positions in BKNG. Total Clarity Wealth Management Inc. acquired a new stake in shares of Booking in the fourth quarter valued at $25,000. Savior LLC acquired a new stake in shares of Booking in the fourth quarter valued at $27,000. CNB Bank bought a new position in Booking in the fourth quarter valued at about $29,000. State of Michigan Retirement System boosted its holdings in Booking by 32.2% in the first quarter. State of Michigan Retirement System now owns 38,510 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 9,385 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new position in Booking in the fourth quarter valued at about $31,000. Institutional investors own 91.89% of the company’s stock.

BKNG has been the subject of several research reports. Credit Suisse Group reduced their price objective on Booking from $1,870.00 to $1,790.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. JPMorgan Chase & Co. cut their target price on Booking from $1,520.00 to $1,460.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Royal Bank of Canada upped their target price on Booking from $1,535.00 to $1,550.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wells Fargo & Co restated a “hold” rating on shares of Booking in a research note on Friday, May 8th. Finally, Wedbush cut their target price on Booking from $2,000.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Eighteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $1,730.96.

Shares of NASDAQ:BKNG traded up $35.62 during midday trading on Friday, reaching $1,631.30. The company’s stock had a trading volume of 560,967 shares, compared to its average volume of 629,963. Booking has a fifty-two week low of $1,107.29 and a fifty-two week high of $2,094.00. The company has a market capitalization of $65.31 billion, a P/E ratio of 20.72, a P/E/G ratio of 6.41 and a beta of 1.03. The company has a debt-to-equity ratio of 2.35, a current ratio of 2.24 and a quick ratio of 2.24. The business’s fifty day simple moving average is $1,408.00 and its 200-day simple moving average is $1,733.66.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, May 7th. The business services provider reported $3.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $6.12 by ($2.35). Booking had a net margin of 23.43% and a return on equity of 78.22%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business posted $11.17 earnings per share. The business’s quarterly revenue was down 19.4% compared to the same quarter last year. On average, analysts forecast that Booking will post 22.02 earnings per share for the current fiscal year.

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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