Corient Private Wealth LLC Grows Holdings in Booking Holdings Inc. $BKNG

Corient Private Wealth LLC lifted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 125.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,077 shares of the business services provider’s stock after buying an additional 30,110 shares during the quarter. Corient Private Wealth LLC owned approximately 0.17% of Booking worth $289,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strive Asset Management LLC bought a new stake in shares of Booking in the 3rd quarter worth about $27,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Booking during the third quarter worth about $26,000. Daytona Street Capital LLC acquired a new position in Booking in the fourth quarter worth about $27,000. Legacy Bridge LLC acquired a new position in Booking in the fourth quarter worth about $27,000. Finally, Camelot Portfolios LLC bought a new stake in Booking in the fourth quarter valued at about $27,000. Institutional investors own 92.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BKNG shares. HSBC cut their price objective on Booking from $309.84 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. UBS Group boosted their price target on Booking from $259.00 to $260.00 and gave the company a “buy” rating in a report on Monday, April 27th. The Goldman Sachs Group lowered their price target on Booking from $226.00 to $223.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Oppenheimer reissued an “outperform” rating and set a $215.00 price target (down from $240.00) on shares of Booking in a research report on Wednesday, April 29th. Finally, Susquehanna set a $260.00 price objective on Booking in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $227.14.

Insider Buying and Selling

In related news, VP Peter J. Millones sold 62,500 shares of the firm’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 value of $10,229,375.00. Following the sale, the vice president directly owned 425,075 shares in the company, valued at $69,572,025.25. This trade represents a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 business’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 of the company’s stock, valued at $3,081,600. This trade represents a 6.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 80,351 shares of company stock valued at $13,545,706 in the last three months. 0.16% of the stock is currently owned by corporate insiders.

Booking Stock Performance

Shares of BKNG opened at $171.78 on Friday. The firm has a fifty day moving average of $169.61 and a 200-day moving average of $183.60. The company has a market cap of $133.11 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $233.58.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. The firm had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.52 billion. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. Booking’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the firm posted $0.99 EPS. Analysts predict that Booking Holdings Inc. will post 10.44 EPS for the current year.

Booking Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, June 5th. This represents a $1.68 annualized dividend and a dividend yield of 1.0%. Booking’s payout ratio is currently 22.11%.

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.