Cornerstone Advisors LLC Reduces Position in Booking Holdings Inc. (NASDAQ:BKNG)

Cornerstone Advisors LLC decreased its stake in Booking Holdings Inc. (NASDAQ:BKNGFree Report) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,600 shares of the business services provider’s stock after selling 400 shares during the quarter. Cornerstone Advisors LLC’s holdings in Booking were worth $5,676,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BKNG. Diversified Trust Co increased its holdings in shares of Booking by 0.4% in the 4th quarter. Diversified Trust Co now owns 764 shares of the business services provider’s stock valued at $2,710,000 after acquiring an additional 3 shares during the period. Howard Financial Services LTD. increased its stake in Booking by 2.4% in the fourth quarter. Howard Financial Services LTD. now owns 129 shares of the business services provider’s stock valued at $458,000 after purchasing an additional 3 shares during the period. Rockland Trust Co. increased its stake in Booking by 3.5% in the fourth quarter. Rockland Trust Co. now owns 88 shares of the business services provider’s stock valued at $312,000 after purchasing an additional 3 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Booking by 4.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 69 shares of the business services provider’s stock valued at $245,000 after buying an additional 3 shares during the last quarter. Finally, Silver Oak Securities Incorporated boosted its stake in shares of Booking by 1.9% during the fourth quarter. Silver Oak Securities Incorporated now owns 164 shares of the business services provider’s stock worth $582,000 after buying an additional 3 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Stock Performance

Booking stock traded up $5.77 during trading on Monday, reaching $3,714.12. The company had a trading volume of 57,215 shares, compared to its average volume of 266,588. Booking Holdings Inc. has a 12-month low of $2,456.93 and a 12-month high of $3,918.00. The stock’s 50 day moving average price is $3,573.99 and its two-hundred day moving average price is $3,472.60. The firm has a market capitalization of $126.02 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.11 and a beta of 1.40.

Booking (NASDAQ:BKNGGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The business services provider reported $20.39 EPS for the quarter, topping analysts’ consensus estimates of $14.03 by $6.36. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.25 billion. Booking had a negative return on equity of 288.35% and a net margin of 21.81%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the prior year, the firm posted $11.60 EPS. As a group, research analysts expect that Booking Holdings Inc. will post 178.54 earnings per share for the current year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $8.75 dividend. The ex-dividend date is Friday, June 7th. This represents a $35.00 dividend on an annualized basis and a dividend yield of 0.94%. Booking’s dividend payout ratio (DPR) is 26.25%.

Insider Activity

In other Booking news, insider Paulo Pisano sold 300 shares of Booking stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $3,485.00, for a total transaction of $1,045,500.00. Following the transaction, the insider now directly owns 4,233 shares of the company’s stock, valued at $14,752,005. The sale was disclosed in a filing with the SEC, which is available at this link. In other Booking news, insider Paulo Pisano sold 300 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $3,485.00, for a total value of $1,045,500.00. Following the transaction, the insider now directly owns 4,233 shares of the company’s stock, valued at $14,752,005. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Radakovich Lynn Vojvodich sold 22 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $3,583.07, for a total value of $78,827.54. Following the transaction, the director now owns 211 shares in the company, valued at approximately $756,027.77. The disclosure for this sale can be found here. Insiders have sold 5,651 shares of company stock valued at $19,485,975 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BKNG. Royal Bank of Canada boosted their price target on Booking from $3,550.00 to $3,900.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and set a $4,205.00 price target (up previously from $4,150.00) on shares of Booking in a research note on Friday, May 3rd. Erste Group Bank reaffirmed a “hold” rating on shares of Booking in a report on Wednesday, March 13th. HSBC boosted their price objective on shares of Booking from $4,220.00 to $4,230.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, Edward Jones restated a “hold” rating on shares of Booking in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $3,876.96.

View Our Latest Stock Report on Booking

Booking Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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