Clearstead Trust LLC Increases Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

Clearstead Trust LLC grew its position in Booking Holdings Inc. (NASDAQ:BKNG) by 41.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120 shares of the business services provider’s stock after purchasing an additional 35 shares during the period. Clearstead Trust LLC’s holdings in Booking were worth $475,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new stake in shares of Booking in the fourth quarter valued at about $25,000. Grove Bank & Trust grew its position in Booking by 133.3% during the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after buying an additional 4 shares during the period. POM Investment Strategies LLC bought a new position in Booking during the second quarter valued at about $28,000. Kings Path Partners LLC bought a new position in Booking during the second quarter valued at about $28,000. Finally, Financial Connections Group Inc. bought a new position in Booking during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Activity at Booking

In related news, insider Paulo Pisano sold 100 shares of Booking stock in a transaction on 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 sale, the insider now owns 3,787 shares in the company, valued at $14,722,379.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Paulo Pisano sold 100 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the sale, the insider now owns 3,787 shares in the company, valued at approximately $14,722,379.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Glenn D. Fogel sold 750 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the sale, the chief executive officer now owns 24,721 shares in the company, valued at approximately $100,556,375.65. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BKNG has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of Booking from $4,000.00 to $4,200.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Argus increased their target price on shares of Booking from $4,200.00 to $4,342.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. cut their target price on shares of Booking from $4,025.00 to $3,860.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald initiated coverage on shares of Booking in a research report on Thursday, September 5th. They set a “neutral” rating and a $3,590.00 target price for the company. Finally, Bank of America cut their price objective on shares of Booking from $3,950.00 to $3,750.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Booking currently has an average rating of “Moderate Buy” and an average target price of $4,064.21.

Booking Stock Performance

Shares of Booking stock opened at $3,979.00 on Tuesday. Booking Holdings Inc. has a 52-week low of $2,733.04 and a 52-week high of $4,144.32. The stock has a market capitalization of $133.38 billion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 1.18 and a beta of 1.40. The company’s 50 day moving average price is $3,767.65 and its 200-day moving average price is $3,712.87.

Booking (NASDAQ:BKNG) last issued its earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.22 by $2.68. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. The firm had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter last year, the business earned $37.62 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Booking Holdings Inc. will post 176.92 earnings per share for the current fiscal year.

Booking Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $8.75 dividend. This represents a $35.00 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, September 6th. Booking’s dividend payout ratio (DPR) is currently 26.25%.

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.