Dock Street Asset Management Inc. Sells 277 Shares of Booking Holdings Inc. $BKNG

Dock Street Asset Management Inc. trimmed its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 4.8% in the third quarter, Holdings Channel.com reports. The fund owned 5,535 shares of the business services provider’s stock after selling 277 shares during the quarter. Booking makes up approximately 2.6% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 13th biggest position. Dock Street Asset Management Inc.’s holdings in Booking were worth $29,885,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in shares of Booking by 34.9% in the 4th quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock worth $1,249,000 after purchasing an additional 65 shares during the period. Revolve Wealth Partners LLC bought a new position in Booking during the fourth quarter worth $209,000. Glenview Trust co raised its stake in Booking by 1,047.0% during the first quarter. Glenview Trust co now owns 952 shares of the business services provider’s stock worth $4,386,000 after buying an additional 869 shares during the last quarter. Integrity Alliance LLC. acquired a new position in Booking in the first quarter valued at $208,000. Finally, Advisors Capital Management LLC boosted its position in Booking by 11.1% during the first quarter. Advisors Capital Management LLC now owns 90 shares of the business services provider’s stock valued at $416,000 after acquiring an additional 9 shares during the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Booking Stock Down 0.0%

Shares of BKNG opened at $5,445.00 on Friday. The business’s fifty day moving average is $5,149.17 and its 200 day moving average is $5,373.40. Booking Holdings Inc. has a 12-month low of $4,096.23 and a 12-month high of $5,839.41. The stock has a market cap of $175.49 billion, a P/E ratio of 35.39, a P/E/G ratio of 1.18 and a beta of 1.23.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Tuesday, October 28th. The business services provider reported $99.50 EPS for the quarter, beating analysts’ consensus estimates of $95.56 by $3.94. Booking had a net margin of 19.37% and a negative return on equity of 134.86%. The business had revenue of $9.01 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the business posted $83.39 EPS. Booking’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts expect that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 5th were issued a $9.60 dividend. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, December 5th. Booking’s dividend payout ratio is currently 24.96%.

Insider Buying and Selling at Booking

In other Booking news, CEO Glenn D. Fogel sold 625 shares of Booking stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $5,141.53, for a total transaction of $3,213,456.25. Following the completion of the transaction, the chief executive officer owned 22,982 shares in the company, valued at approximately $118,162,642.46. The trade was a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paulo Pisano sold 200 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $5,000.00, for a total value of $1,000,000.00. Following the sale, the insider directly owned 1,514 shares of the company’s stock, valued at $7,570,000. This represents a 11.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,324 shares of company stock worth $17,193,557 in the last quarter. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. UBS Group set a $6,806.00 price objective on Booking and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Bank of America upgraded Booking from a “neutral” rating to a “buy” rating and set a $6,000.00 price target on the stock in a report on Monday, November 24th. Benchmark lifted their price objective on shares of Booking from $6,200.00 to $6,400.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Argus boosted their target price on shares of Booking from $6,000.00 to $6,400.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley set a $6,150.00 price target on shares of Booking in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $6,165.52.

About Booking

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.