Corient Private Wealth LLC Reduces Position in Booking Holdings Inc. $BKNG

Corient Private Wealth LLC decreased its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,339 shares of the business services provider’s stock after selling 802 shares during the quarter. Corient Private Wealth LLC owned 0.08% of Booking worth $146,699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Booking by 1.1% during the second quarter. Geode Capital Management LLC now owns 854,838 shares of the business services provider’s stock valued at $4,936,132,000 after purchasing an additional 9,333 shares during the last quarter. Norges Bank bought a new stake in Booking in the 2nd quarter worth approximately $2,210,917,000. Invesco Ltd. raised its stake in Booking by 6.8% during the 2nd quarter. Invesco Ltd. now owns 379,583 shares of the business services provider’s stock valued at $2,197,495,000 after buying an additional 24,030 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Booking by 4.9% during the 2nd quarter. Schroder Investment Management Group now owns 377,198 shares of the business services provider’s stock valued at $2,183,690,000 after buying an additional 17,662 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Booking by 0.5% in the 1st quarter. Northern Trust Corp now owns 370,327 shares of the business services provider’s stock worth $1,706,063,000 after buying an additional 1,699 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.

Insider Activity at Booking

In other Booking news, CEO Glenn D. Fogel sold 443 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $4,820.35, for a total transaction of $2,135,415.05. Following the transaction, the chief executive officer owned 22,151 shares of the company’s stock, valued at approximately $106,775,572.85. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $1,000,000.00. Following the completion of the transaction, the insider directly owned 1,514 shares of the company’s stock, valued at $7,570,000. This trade represents a 11.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,296 shares of company stock worth $11,605,927. Insiders own 0.16% of the company’s stock.

Booking Price Performance

Shares of BKNG stock opened at $5,301.64 on Monday. The company has a market cap of $170.87 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.34 and a beta of 1.25. The stock’s 50 day simple moving average is $5,061.02 and its two-hundred day simple moving average is $5,378.21. Booking Holdings Inc. has a 1 year low of $4,096.23 and a 1 year high of $5,839.41.

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

Booking Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $9.60 dividend. This represents a $38.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, December 5th. Booking’s dividend payout ratio (DPR) is currently 24.96%.

Analysts Set New Price Targets

A number of analysts recently commented on BKNG shares. KeyCorp upped their price objective on Booking from $6,450.00 to $6,630.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Booking in a research report on Monday, December 8th. Robert W. Baird set a $6,325.00 price objective on shares of Booking in a research note on Wednesday, October 29th. Benchmark boosted their target price on shares of Booking from $6,200.00 to $6,400.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Cantor Fitzgerald decreased their price target on shares of Booking from $5,590.00 to $5,550.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6,149.23.

Booking Profile

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.