Sendero Wealth Management LLC Buys New Position in Booking Holdings Inc. (NASDAQ:BKNG)

Sendero Wealth Management LLC bought a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) in the first quarter, Holdings Channel.com reports. The fund bought 510 shares of the business services provider’s stock, valued at approximately $2,350,000.

Several other hedge funds have also recently added to or reduced their stakes in BKNG. Covestor Ltd increased its position in shares of Booking by 6.9% during the fourth quarter. Covestor Ltd now owns 31 shares of the business services provider’s stock worth $158,000 after buying an additional 2 shares during the period. SageView Advisory Group LLC lifted its holdings in Booking by 1.6% in the fourth quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider’s stock valued at $616,000 after buying an additional 2 shares during the period. Belpointe Asset Management LLC lifted its holdings in Booking by 2.2% in the fourth quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider’s stock valued at $472,000 after buying an additional 2 shares during the period. Elequin Capital LP boosted its position in Booking by 20.0% during the fourth quarter. Elequin Capital LP now owns 12 shares of the business services provider’s stock valued at $60,000 after acquiring an additional 2 shares during the last quarter. Finally, Childress Capital Advisors LLC grew its holdings in Booking by 2.4% during the 4th quarter. Childress Capital Advisors LLC now owns 126 shares of the business services provider’s stock worth $625,000 after acquiring an additional 3 shares during the period. Institutional investors own 92.42% of the company’s stock.

Wall Street Analyst Weigh In

BKNG has been the topic of a number of recent analyst reports. Cfra raised Booking from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. UBS Group lowered their target price on Booking from $5,960.00 to $5,557.00 and set a “buy” rating for the company in a report on Monday, April 28th. Robert W. Baird boosted their price target on Booking from $5,550.00 to $5,700.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. BMO Capital Markets increased their price target on Booking from $5,000.00 to $5,700.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Booking from $5,750.00 to $4,850.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Booking has a consensus rating of “Moderate Buy” and a consensus price target of $5,299.29.

Booking Stock Performance

Shares of BKNG opened at $5,475.07 on Wednesday. The firm has a market capitalization of $178.16 billion, a P/E ratio of 31.64, a P/E/G ratio of 1.71 and a beta of 1.42. Booking Holdings Inc. has a 52 week low of $3,180.00 and a 52 week high of $5,560.45. The stock has a 50 day moving average price of $4,933.99 and a two-hundred day moving average price of $4,920.88.

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

Booking Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $9.60 dividend. The ex-dividend date is Friday, June 6th. This represents a $38.40 annualized dividend and a dividend yield of 0.70%. Booking’s payout ratio is 23.89%.

Booking Company 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.