Intech Investment Management LLC Trims Position in Booking Holdings Inc. (NASDAQ:BKNG)

Intech Investment Management LLC cut its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 56.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,431 shares of the business services provider’s stock after selling 9,534 shares during the period. Intech Investment Management LLC’s holdings in Booking were worth $31,300,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BKNG. King Luther Capital Management Corp grew its stake in Booking by 3.6% in the third quarter. King Luther Capital Management Corp now owns 4,726 shares of the business services provider’s stock worth $19,906,000 after purchasing an additional 166 shares during the period. Cornerstone Advisors LLC grew its stake in Booking by 68.8% in the third quarter. Cornerstone Advisors LLC now owns 2,700 shares of the business services provider’s stock worth $11,373,000 after purchasing an additional 1,100 shares during the period. Citizens Financial Group Inc. RI grew its stake in Booking by 18.1% in the third quarter. Citizens Financial Group Inc. RI now owns 816 shares of the business services provider’s stock worth $3,436,000 after purchasing an additional 125 shares during the period. Moran Wealth Management LLC grew its stake in Booking by 1.3% in the third quarter. Moran Wealth Management LLC now owns 1,575 shares of the business services provider’s stock worth $6,634,000 after purchasing an additional 20 shares during the period. Finally, Howe & Rusling Inc. boosted its holdings in Booking by 4.5% in the third quarter. Howe & Rusling Inc. now owns 1,322 shares of the business services provider’s stock worth $5,569,000 after acquiring an additional 57 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Booking

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Tigress Financial boosted their target price on Booking from $4,580.00 to $5,600.00 and gave the stock a “strong-buy” rating in a report on Monday. Mizuho upped their price target on Booking from $4,800.00 to $5,400.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Bank of America upped their price objective on Booking from $4,448.00 to $4,850.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. B. Riley upped their price objective on Booking from $4,650.00 to $5,100.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company upped their price objective on Booking from $3,976.00 to $4,173.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Ten investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4,785.00.

Booking Stock Up 0.8 %

Shares of NASDAQ BKNG opened at $5,016.43 on Thursday. The business has a fifty day simple moving average of $4,431.19 and a two-hundred day simple moving average of $4,019.06. The firm has a market cap of $166.04 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. Booking Holdings Inc. has a twelve month low of $3,079.50 and a twelve month high of $5,069.44.

Booking Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $8.75 dividend. This represents a $35.00 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, December 6th. Booking’s payout ratio is 23.75%.

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.