Legacy Wealth Asset Management LLC Cuts Stock Position in Booking Holdings Inc. $BKNG

Legacy Wealth Asset Management LLC trimmed its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 24.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 333 shares of the business services provider’s stock after selling 109 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Booking were worth $1,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Booking by 34.9% during the 4th quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock valued at $1,249,000 after purchasing an additional 65 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Booking during the fourth quarter valued at about $209,000. CW Advisors LLC increased its holdings in shares of Booking by 13.3% in the first quarter. CW Advisors LLC now owns 221 shares of the business services provider’s stock worth $1,023,000 after buying an additional 26 shares during the period. Haverford Trust Co increased its holdings in shares of Booking by 1.6% in the first quarter. Haverford Trust Co now owns 185 shares of the business services provider’s stock worth $852,000 after buying an additional 3 shares during the period. Finally, Broadleaf Partners LLC purchased a new stake in Booking during the 1st quarter valued at about $2,999,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BKNG shares. Rothschild & Co Redburn boosted their price objective on Booking from $6,250.00 to $6,400.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Booking from $6,723.00 to $6,790.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Cowen reiterated a “buy” rating on shares of Booking in a report on Wednesday, December 3rd. Truist Financial set a $5,810.00 price target on Booking in a report on Wednesday, October 29th. Finally, BNP Paribas set a $6,100.00 price objective on Booking in a report on Monday, November 24th. 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6,149.23.

Booking Stock Up 0.9%

BKNG opened at $5,394.36 on Monday. The stock has a market cap of $173.86 billion, a PE ratio of 35.06, a PEG ratio of 1.36 and a beta of 1.25. The business has a 50 day moving average of $5,077.53 and a 200-day moving average of $5,374.00. Booking Holdings Inc. has a 52 week low of $4,096.23 and a 52 week high of $5,839.41.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Tuesday, October 28th. The business services provider reported $99.50 EPS for the quarter, beating the consensus estimate of $95.56 by $3.94. The business had revenue of $9.01 billion during the quarter, compared to analyst estimates of $8.71 billion. Booking had a negative return on equity of 134.86% and a net margin of 19.37%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $83.39 earnings per share. Equities analysts anticipate that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 of this dividend is Friday, December 5th. Booking’s payout ratio is currently 24.96%.

Insider Buying and Selling

In related news, Director Vanessa Ames Wittman sold 15 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $5,362.00, for a total value of $80,430.00. Following the sale, the director owned 702 shares in the company, valued at $3,764,124. This represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paulo Pisano sold 200 shares of Booking stock in a transaction 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 transaction, the insider owned 1,514 shares of the company’s stock, valued at $7,570,000. The trade was a 11.67% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,324 shares of company stock valued at $17,193,557. 0.16% of the stock is owned by company insiders.

Booking Company Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.