Booking Holdings Inc. $BKNG Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC raised its position in Booking Holdings Inc. (NASDAQ:BKNG) by 14.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,345 shares of the business services provider’s stock after buying an additional 3,378 shares during the period. Corient Private Wealth LLC owned about 0.09% of Booking worth $146,450,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Life Cycle Investment Partners Ltd acquired a new position in Booking during the fourth quarter worth $361,463,000. Rit Capital Partners PLC purchased a new position in shares of Booking during the fourth quarter worth $51,396,000. Rathbones Group PLC grew its stake in shares of Booking by 20.5% in the fourth quarter. Rathbones Group PLC now owns 64,908 shares of the business services provider’s stock valued at $347,604,000 after buying an additional 11,042 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Booking by 36.7% in the fourth quarter. ProShare Advisors LLC now owns 56,087 shares of the business services provider’s stock valued at $300,364,000 after buying an additional 15,053 shares in the last quarter. Finally, Cardano Risk Management B.V. raised its holdings in shares of Booking by 862.0% in the 4th quarter. Cardano Risk Management B.V. now owns 218,080 shares of the business services provider’s stock valued at $1,167,890,000 after buying an additional 195,411 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BKNG shares. Sanford C. Bernstein restated a “market perform” rating on shares of Booking in a research note on Thursday, June 11th. Mizuho dropped their price target on shares of Booking from $230.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. BMO Capital Markets cut their price objective on shares of Booking from $248.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. JPMorgan Chase & Co. reduced their price objective on shares of Booking from $224.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, BTIG Research restated a “buy” rating and issued a $250.00 target price on shares of Booking in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $227.14.

Booking Price Performance

BKNG opened at $171.78 on Friday. The business has a 50 day moving average price of $169.42 and a two-hundred day moving average price of $183.43. The company has a market cap of $133.11 billion, a PE ratio of 22.60, a P/E/G ratio of 1.03 and a beta of 1.08. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $233.58.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 negative return on equity of 117.14% and a net margin of 22.23%.The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. As a group, sell-side analysts expect that Booking Holdings Inc. will post 10.44 EPS for the current fiscal year.

Booking Dividend Announcement

The company 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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, June 5th. Booking’s payout ratio is currently 22.11%.

Insider Activity

In related news, Director Vanessa Ames Wittman sold 1,125 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the transaction, the director owned 16,050 shares of the company’s stock, valued at approximately $3,081,600. This represents a 6.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn D. Fogel sold 16,726 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $185.36, for a total value of $3,100,331.36. Following the completion of the transaction, the chief executive officer directly owned 298,174 shares in the company, valued at $55,269,532.64. This trade represents a 5.31% 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. Insiders sold a total of 80,351 shares of company stock valued at $13,545,706 over the last 90 days. Insiders own 0.16% of the company’s stock.

Booking 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.