Booking (NASDAQ:BKNG) Hits New 52-Week High – Here’s Why

Booking Holdings Inc. (NASDAQ:BKNG) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $5,062.49 and last traded at $5,058.01, with a volume of 85453 shares. The stock had previously closed at $4,943.27.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BKNG shares. JPMorgan Chase & Co. lowered their target price on shares of Booking from $4,025.00 to $3,860.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Bank of America increased their price target on Booking from $4,448.00 to $4,850.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price target on Booking from $3,940.00 to $4,510.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. DA Davidson increased their price target on Booking from $4,100.00 to $5,005.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group increased their price target on Booking from $4,200.00 to $4,300.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Eleven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4,749.83.

Booking Price Performance

The business has a fifty day moving average of $4,287.85 and a 200-day moving average of $3,959.25. The stock has a market capitalization of $165.08 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 1.56 and a beta of 1.38.

Booking Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $8.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $35.00 dividend on an annualized basis and a yield of 0.70%. Booking’s dividend payout ratio is currently 23.75%.

Insider Buying and Selling at Booking

In other news, insider Paulo Pisano sold 100 shares of Booking stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the completion of the sale, the insider now directly owns 3,787 shares in the company, valued at $14,722,379.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Booking

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Garner Asset Management Corp lifted its holdings in Booking by 0.8% in the 3rd quarter. Garner Asset Management Corp now owns 258 shares of the business services provider’s stock worth $1,087,000 after purchasing an additional 2 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in Booking by 0.8% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 403 shares of the business services provider’s stock worth $1,461,000 after purchasing an additional 3 shares during the last quarter. CVA Family Office LLC lifted its holdings in Booking by 8.1% in the 2nd quarter. CVA Family Office LLC now owns 40 shares of the business services provider’s stock worth $158,000 after purchasing an additional 3 shares during the last quarter. American National Bank lifted its holdings in Booking by 3.7% in the 2nd quarter. American National Bank now owns 84 shares of the business services provider’s stock worth $333,000 after purchasing an additional 3 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Booking by 3.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 96 shares of the business services provider’s stock worth $380,000 after purchasing an additional 3 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

About Booking

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.