Redwood Investment Management LLC Reduces Position in Booking Holdings Inc. (NASDAQ:BKNG)

Redwood Investment Management LLC trimmed its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 287 shares of the business services provider’s stock after selling 72 shares during the period. Redwood Investment Management LLC’s holdings in Booking were worth $1,426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC raised its position in Booking by 621,874.8% during the fourth quarter. Proficio Capital Partners LLC now owns 864,545 shares of the business services provider’s stock worth $4,295,423,000 after acquiring an additional 864,406 shares during the period. Norges Bank purchased a new stake in shares of Booking in the fourth quarter valued at about $1,958,352,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Booking by 51.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 280,629 shares of the business services provider’s stock valued at $1,394,283,000 after purchasing an additional 95,308 shares during the period. Northern Trust Corp boosted its stake in Booking by 18.8% during the fourth quarter. Northern Trust Corp now owns 368,628 shares of the business services provider’s stock worth $1,831,499,000 after buying an additional 58,357 shares during the period. Finally, Winslow Capital Management LLC boosted its stake in Booking by 132.7% during the fourth quarter. Winslow Capital Management LLC now owns 88,754 shares of the business services provider’s stock worth $440,967,000 after buying an additional 50,605 shares during the period. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BKNG has been the subject of several recent research reports. JMP Securities raised their price objective on shares of Booking from $5,600.00 to $5,700.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. UBS Group cut their price objective on shares of Booking from $5,960.00 to $5,557.00 and set a “buy” rating on the stock in a report on Monday, April 28th. DA Davidson lifted their target price on shares of Booking from $5,005.00 to $5,800.00 and gave the company a “buy” rating in a report on Friday, February 21st. Benchmark increased their price objective on Booking from $5,000.00 to $5,900.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Morgan Stanley dropped their price objective on shares of Booking from $5,000.00 to $4,800.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5,299.29.

Booking Price Performance

BKNG stock opened at $5,237.74 on Friday. The stock has a market capitalization of $170.44 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42. The company’s 50-day moving average is $4,716.03 and its 200-day moving average is $4,870.70. Booking Holdings Inc. has a 1 year low of $3,180.00 and a 1 year high of $5,337.24.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Tuesday, April 29th. The business services provider reported $24.81 EPS for the quarter, beating the consensus estimate of $17.57 by $7.24. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. The firm had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.58 billion. During the same quarter last year, the business posted $20.39 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts anticipate that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $9.60 per share. This represents a $38.40 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Friday, June 6th. Booking’s dividend payout ratio (DPR) is currently 23.89%.

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.