Analyst Insights: Baird Initiates Coverage of Booking Holdings with Outperform Rating
On November 27, 2024, Baird unveiled its initial coverage of Booking Holdings (SNSE:BKNGCL), issuing an Outperform recommendation.
Understanding Fund Sentiment
Currently, there are 2,945 funds or institutions with reported positions in Booking Holdings, a rise of 47 owners or 1.62% from the previous quarter. The average portfolio weight committed to BKNGCL across all funds stands at 0.54%, reflecting an increase of 13.59%. However, the total shares held by institutions have seen a decline of 3.65% over the past three months, now totaling 35,142K shares.
BlackRock, one of the prominent shareholders, holds 2,408K shares, which accounts for 7.27% of the company. This represents a reduction from their previous holding of 2,414K shares, marking a decrease of 0.24%. Over the last quarter, the firm has lowered its portfolio allocation in BKNGCL by 1.62%.
Capital World Investors currently holds 1,252K shares, translating to 3.78% ownership. In their last filing, they reported 1,500K shares, which indicates a significant decrease of 19.82%. Their portfolio allocation in BKNGCL has also dropped by 15.64% recently.
Meanwhile, VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 1,062K shares, representing 3.21% of the company. Previously, the fund held 1,071K shares, leading to a decrease of 0.86%. They have slightly reduced their portfolio allocation in BKNGCL by 0.99% this quarter.
Price T Rowe Associates shows an ownership of 1,048K shares or 3.17%. This reflects an increase of 4.89% from their prior holding of 996K shares; however, they have cut their portfolio allocation in BKNGCL by 46.30% over the last three months.
Lastly, J.P. Morgan Chase holds 926K shares, equating to 2.80% ownership. Their previous position included 1,042K shares, translating to a decrease of 12.58%. Notably, the firm’s portfolio allocation in BKNGCL plummeted by 94.10% over the last quarter.
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