8,052 Booking Holdings Inc. $BKNG Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 36.2% in the third quarter, HoldingsChannel.com reports. The firm owned 14,191 shares of the business services provider’s stock after selling 8,052 shares during the period. Pinnacle Associates Ltd.’s holdings in Booking were worth $2,312,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Allworth Financial LP boosted its holdings in Booking by 1,615.6% in the second quarter. Allworth Financial LP now owns 13,931 shares of the business services provider’s stock valued at $2,483,000 after acquiring an additional 13,119 shares in the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new position in Booking during the 2nd quarter valued at $11,687,000. MBM Wealth Consultants LLC raised its holdings in Booking by 2,860.8% in the 2nd quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider’s stock worth $2,238,000 after purchasing an additional 12,130 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Booking by 2,549.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 88,949 shares of the business services provider’s stock worth $16,077,000 after purchasing an additional 85,592 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Booking by 4,630.9% in the 2nd quarter. QRG Capital Management Inc. now owns 24,175 shares of the business services provider’s stock worth $4,309,000 after purchasing an additional 23,664 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on BKNG. UBS Group raised their target price on shares of Booking from $266.00 to $274.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Booking from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Bank of America reiterated a “buy” rating and set a $234.00 price target on shares of Booking in a research report on Wednesday, August 5th. Argus increased their price target on shares of Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $250.00 price objective (up from $240.00) on shares of Booking in a report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Booking currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.71.

Insider Buying and Selling at Booking

In other news, VP Peter Millones, Jr. sold 50,050 shares of Booking stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the completion of the transaction, the vice president directly owned 375,025 shares in the company, valued at approximately $77,851,439.75. This trade represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mylod, Jr. sold 5,000 shares of Booking stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the transaction, the director owned 16,000 shares of the company’s stock, valued at $3,200,000. The trade was a 23.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 84,550 shares of company stock valued at $17,426,864. 0.17% of the stock is currently owned by company insiders.

Booking Price Performance

NASDAQ:BKNG opened at $155.83 on Friday. The firm’s 50-day moving average price is $176.85 and its 200-day moving average price is $177.30. The company has a market capitalization of $117.09 billion, a PE ratio of 16.76, a P/E/G ratio of 1.00 and a beta of 1.13. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $220.81.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period last year, the business earned $55.40 EPS. Booking’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts anticipate that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Booking Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.1%. Booking’s dividend payout ratio (DPR) is currently 18.58%.

Booking Company Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.