Connor Clark & Lunn Investment Management Ltd. Sells 1,717 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 33.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,451 shares of the business services provider’s stock after selling 1,717 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Booking were worth $14,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sheaff Brock Investment Advisors LLC boosted its holdings in Booking by 0.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 403 shares of the business services provider’s stock valued at $1,461,000 after acquiring an additional 3 shares during the period. CVA Family Office LLC boosted its stake in shares of Booking by 8.1% during the second quarter. CVA Family Office LLC now owns 40 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 3 shares during the period. American National Bank grew its holdings in shares of Booking by 3.7% in the second 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. First Horizon Advisors Inc. lifted its holdings in Booking by 3.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 96 shares of the business services provider’s stock valued at $380,000 after buying an additional 3 shares in the last quarter. Finally, Jacobsen Capital Management boosted its position in Booking by 1.6% in the 2nd quarter. Jacobsen Capital Management now owns 191 shares of the business services provider’s stock valued at $757,000 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 Up 0.8 %

Shares of NASDAQ BKNG opened at $5,016.43 on Thursday. The firm has a market cap of $166.04 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. The company’s 50-day simple moving average is $4,431.19 and its 200-day simple moving average is $4,019.06. Booking Holdings Inc. has a 52-week low of $3,079.50 and a 52-week high of $5,069.44.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a dividend of $8.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $35.00 annualized dividend and a yield of 0.70%. Booking’s dividend payout ratio (DPR) is currently 23.75%.

Insider Buying and Selling at Booking

In other news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the transaction, the insider now directly owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Oppenheimer increased their price objective on Booking from $5,000.00 to $5,500.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Piper Sandler boosted their price target on Booking from $3,560.00 to $4,900.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price objective on shares of Booking from $4,205.00 to $5,155.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Morgan Stanley lifted their price target on shares of Booking from $4,200.00 to $4,600.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Argus lowered Booking from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $4,785.00.

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.