Booking Holdings Inc. $BKNG Stake Cut by New York Life Investment Management LLC

New York Life Investment Management LLC cut its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,561 shares of the business services provider’s stock after selling 3,405 shares during the quarter. New York Life Investment Management LLC’s holdings in Booking were worth $17,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BKNG. Kapitalo Investimentos Ltda purchased a new stake in shares of Booking in the first quarter valued at about $345,000. Alesco Advisors LLC An ESL Co purchased a new position in Booking during the first quarter worth about $400,000. Inceptionr LLC purchased a new position in Booking during the first quarter worth about $505,000. Oslo Pensjonsforsikring AS acquired a new position in Booking in the 1st quarter valued at about $509,000. Finally, Kesler Norman & Wride LLC acquired a new position in Booking in the 1st quarter valued at about $518,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Booking

In other news, insider Paulo Pisano sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $163.06, for a total value of $244,590.00. Following the transaction, the insider directly owned 70,400 shares in the company, valued at approximately $11,479,424. This represents a 2.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Wittman sold 375 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $211.00, for a total transaction of $79,125.00. Following the transaction, the director directly owned 16,133 shares of the company’s stock, valued at $3,404,063. The trade was a 2.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 57,425 shares of company stock valued at $11,783,564 over the last 90 days. Insiders own 0.17% of the company’s stock.

Booking Trading Up 0.6%

Shares of NASDAQ:BKNG opened at $160.21 on Thursday. The company has a market capitalization of $119.15 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.02 and a beta of 1.17. Booking Holdings Inc. has a 12-month low of $146.28 and a 12-month high of $220.81. The business has a 50-day moving average price of $164.14 and a 200 day moving average price of $175.46.

Booking (NASDAQ:BKNG) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.17. The company had revenue of $9.79 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Booking had a net margin of 25.52% and a negative return on equity of 89.54%. Booking’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $99.50 earnings per share. As a group, equities research analysts predict that Booking Holdings Inc. will post 10.26 earnings per share for the current fiscal year.

Booking Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, December 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.0%. Booking’s dividend payout ratio (DPR) is currently 18.12%.

Analysts Set New Price Targets

Several analysts have recently weighed in on BKNG shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $175.00 price target on shares of Booking in a research note on Wednesday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of Booking from $248.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $200.00 price target (down from $230.00) on shares of Booking in a research report on Wednesday, November 4th. Wedbush decreased their price objective on Booking from $247.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, November 4th. Finally, Royal Bank Of Canada lowered their price objective on Booking from $220.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.35.

Booking Profile

Booking Holdings Inc. is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences. The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.