Kovitz Investment Group Partners LLC reduced its position in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 67.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,786 shares of the business services provider’s stock after selling 3,737 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Booking were worth $9,565,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. KERR FINANCIAL PLANNING Corp acquired a new stake in Booking during the 3rd quarter valued at $26,000. Daytona Street Capital LLC acquired a new position in Booking in the 4th quarter worth $27,000. Legacy Bridge LLC acquired a new position in Booking in the 4th quarter worth $27,000. Camelot Portfolios LLC purchased a new position in Booking in the 4th quarter valued at about $27,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in Booking in the 4th quarter valued at about $27,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.
Booking Stock Performance
Shares of BKNG stock opened at $171.78 on Friday. The stock has a market capitalization of $133.11 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.02 and a beta of 1.08. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $233.58. The company’s 50-day simple moving average is $169.61 and its 200-day simple moving average is $183.60.
Booking Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, June 5th. Booking’s payout ratio is 22.11%.
Insider Activity
In related news, VP Peter J. Millones sold 62,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the sale, the vice president directly owned 425,075 shares of the company’s stock, valued at approximately $69,572,025.25. This represents a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the transaction, the director owned 16,050 shares in the company, valued at $3,081,600. This trade represents a 6.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 80,351 shares of company stock worth $13,545,706. 0.16% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of brokerages have recently issued reports on BKNG. UBS Group lifted their target price on Booking from $259.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Wall Street Zen downgraded Booking from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. HSBC lowered their price objective on Booking from $309.84 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Oppenheimer restated an “outperform” rating and set a $215.00 price objective (down from $240.00) on shares of Booking in a report on Wednesday, April 29th. Finally, Robert W. Baird cut their target price on Booking from $234.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Booking has a consensus rating of “Moderate Buy” and a consensus target price of $227.14.
Check Out Our Latest Analysis on BKNG
Booking Company Profile
Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.
Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.
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