Overbrook Management Corp Has $30.95 Million Holdings in Booking Holdings Inc. $BKNG

Overbrook Management Corp lifted its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 73.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,733 shares of the business services provider’s stock after purchasing an additional 2,419 shares during the period. Booking accounts for 5.6% of Overbrook Management Corp’s portfolio, making the stock its 8th largest holding. Overbrook Management Corp’s holdings in Booking were worth $30,954,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BKNG. Y Intercept Hong Kong Ltd boosted its stake in Booking by 15.6% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 511 shares of the business services provider’s stock valued at $2,958,000 after purchasing an additional 69 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Booking by 18.6% during the second quarter. Vontobel Holding Ltd. now owns 75,534 shares of the business services provider’s stock worth $437,284,000 after purchasing an additional 11,829 shares during the period. Covey Capital Advisors LLC raised its position in shares of Booking by 1.0% in the second quarter. Covey Capital Advisors LLC now owns 1,117 shares of the business services provider’s stock valued at $6,467,000 after buying an additional 11 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Booking by 67.3% in the second quarter. Panagora Asset Management Inc. now owns 30,210 shares of the business services provider’s stock valued at $174,893,000 after buying an additional 12,148 shares during the period. Finally, Atria Investments Inc grew its position in Booking by 12.7% during the second quarter. Atria Investments Inc now owns 2,291 shares of the business services provider’s stock worth $13,262,000 after buying an additional 259 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert J. Mylod, Jr. sold 40 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $5,000.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 960 shares in the company, valued at $4,800,000. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paulo Pisano sold 200 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $5,000.00, for a total value of $1,000,000.00. Following the completion of the sale, the insider owned 1,514 shares in the company, valued at $7,570,000. The trade was a 11.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,296 shares of company stock worth $11,605,927. Corporate insiders own 0.16% of the company’s stock.

Booking Price Performance

Shares of NASDAQ BKNG opened at $5,457.70 on Tuesday. Booking Holdings Inc. has a 1 year low of $4,096.23 and a 1 year high of $5,839.41. The company has a 50 day simple moving average of $5,061.78 and a 200 day simple moving average of $5,377.90. The firm has a market cap of $175.90 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 1.34 and a beta of 1.25.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Tuesday, October 28th. The business services provider reported $99.50 EPS for the quarter, topping analysts’ consensus estimates of $95.56 by $3.94. Booking had a net margin of 19.37% and a negative return on equity of 134.86%. The company had revenue of $9.01 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the business earned $83.39 earnings per share. Booking’s revenue was up 12.7% compared to the same quarter last year. As a group, research analysts anticipate that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a $9.60 dividend. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, December 5th. Booking’s payout ratio is 24.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BKNG shares. Citigroup reissued a “market outperform” rating on shares of Booking in a report on Wednesday, October 29th. Rothschild & Co Redburn raised their target price on Booking from $6,250.00 to $6,400.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Wedbush raised Booking from a “neutral” rating to an “outperform” rating and set a $6,000.00 price target for the company in a report on Thursday, November 13th. The Goldman Sachs Group upped their price objective on Booking from $5,640.00 to $6,050.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Seaport Global Securities lifted their target price on Booking from $6,030.00 to $6,260.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Booking presently has an average rating of “Moderate Buy” and an average target price of $6,149.23.

About Booking

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.