Booking Holdings Inc. $BKNG Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,383 shares of the business services provider’s stock after acquiring an additional 43,602 shares during the quarter. Booking comprises approximately 0.6% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 28th biggest holding. Arrowstreet Capital Limited Partnership’s holdings in Booking were worth $1,100,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Strive Asset Management LLC acquired a new position in Booking in the 3rd quarter valued at about $27,000. Daytona Street Capital LLC acquired a new stake in shares of Booking during the 4th quarter worth about $27,000. Legacy Bridge LLC acquired a new stake in shares of Booking during the 4th quarter worth about $27,000. Camelot Portfolios LLC acquired a new stake in shares of Booking during the 4th quarter worth about $27,000. Finally, Swiss RE Ltd. purchased a new stake in shares of Booking during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Stock Performance

NASDAQ BKNG opened at $172.83 on Friday. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $231.80. The company’s 50 day moving average price is $171.52 and its 200 day moving average price is $178.12. The firm has a market capitalization of $133.92 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.06 and a beta of 1.07.

Booking (NASDAQ:BKNG) last announced 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. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The firm had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the company posted $0.99 earnings per share. Booking’s revenue was up 16.2% compared to the same quarter last year. Sell-side analysts forecast that Booking Holdings Inc. will post 10.45 EPS for the current fiscal year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were paid 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 was Friday, June 5th. Booking’s dividend payout ratio (DPR) is currently 22.11%.

Insider Buying and Selling at Booking

In related news, VP Peter J. Millones sold 62,500 shares of Booking stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the transaction, the vice president owned 425,075 shares in the company, valued at approximately $69,572,025.25. The trade was a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Booking from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. BTIG Research restated a “buy” rating and set a $250.00 target price on shares of Booking in a research report on Friday, May 29th. Citigroup lowered their target price on shares of Booking from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Evercore set a $245.00 price target on Booking in a report on Wednesday, April 29th. Finally, BMO Capital Markets reduced their price target on Booking from $248.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $227.05.

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.