Nuveen LLC Sells 23,236 Shares of Booking Holdings Inc. $BKNG

Nuveen LLC reduced its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 321,749 shares of the business services provider’s stock after selling 23,236 shares during the period. Booking comprises about 0.5% of Nuveen LLC’s investment portfolio, making the stock its 28th biggest position. Nuveen LLC’s holdings in Booking were worth $1,723,072,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BKNG. Cardano Risk Management B.V. lifted its position in shares of Booking by 7.2% during the third quarter. Cardano Risk Management B.V. now owns 22,669 shares of the business services provider’s stock worth $122,396,000 after purchasing an additional 1,514 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of Booking during the fourth quarter worth approximately $361,463,000. Rit Capital Partners PLC acquired a new position in shares of Booking during the fourth quarter worth approximately $51,396,000. Longbow Finance SA lifted its position in shares of Booking by 121.9% during the third quarter. Longbow Finance SA now owns 1,875 shares of the business services provider’s stock worth $10,124,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Rathbones Group PLC lifted its position in shares of Booking by 20.5% during the fourth quarter. Rathbones Group PLC now owns 64,908 shares of the business services provider’s stock worth $347,604,000 after purchasing an additional 11,042 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Peter J. Millones sold 62,500 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the completion of the transaction, the vice president owned 425,075 shares in the company, valued at approximately $69,572,025.25. This represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Ames Wittman sold 1,125 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the completion of the sale, the director owned 16,050 shares of the company’s stock, valued at approximately $3,081,600. This represents a 6.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 97,076 shares of company stock worth $16,417,121. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

BKNG has been the topic of a number of research reports. Piper Sandler set a $195.00 target price on shares of Booking in a research report on Wednesday, April 29th. Citigroup reduced their target price on shares of Booking from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Jefferies Financial Group reduced their target price on shares of Booking from $224.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Booking from $210.00 to $202.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, B. Riley Financial dropped their price target on shares of Booking from $272.00 to $264.00 and set a “buy” rating for the company in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Booking presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.14.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Analyst coverage remains constructive, with Booking Holdings carrying a consensus recommendation of “Moderate Buy”, which may help support the stock. Booking Holdings Inc. (NASDAQ:BKNG) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Positive Sentiment: Several brokerage-related articles reiterated that analysts still generally view BKNG favorably, suggesting Wall Street sees upside despite the pullback. Brokers Suggest Investing in Booking Holdings (BKNG): Read This Before Placing a Bet
• Positive Sentiment: Dodge & Cox reportedly initiated a position in Booking Holdings, a sign that some institutional investors see value in the stock after its decline. Dodge and Cox Fund Initiated Booking Holdings (BKNG) on Overlooked Advantage
• Neutral Sentiment: New commentary is questioning whether BKNG is now a bargain or a value trap after a roughly 25% share-price slide, which could keep traders cautious until fundamentals improve. Is It Time To Reassess Booking Holdings (BKNG) After A 25% Share Price Slide?
• Neutral Sentiment: Market recap pieces noted BKNG has been falling faster than the broader market, reinforcing the recent weakness but not pointing to a new fundamental catalyst. Booking Holdings (BKNG) Sees a More Significant Dip Than Broader Market: Some Facts to Know
• Negative Sentiment: The stock’s recent decline and weak year-to-date performance are weighing on sentiment, as investors appear to be reassessing growth expectations and valuation. Booking Holdings (BKNG) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Booking Stock Performance

Shares of NASDAQ:BKNG opened at $163.59 on Friday. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $233.58. The company has a market capitalization of $126.76 billion, a PE ratio of 21.52, a PEG ratio of 0.96 and a beta of 1.08. The company has a 50 day moving average price of $169.49 and a two-hundred day moving average price of $184.26.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. The company had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, sell-side analysts forecast that Booking Holdings Inc. will post 10.44 earnings per share for the current year.

Booking Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, June 5th. This represents a $1.68 annualized dividend and a yield of 1.0%. Booking’s dividend payout ratio is presently 22.11%.

Booking 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.