Arcadia Investment Management Corp MI Reduces Stake in Booking Holdings Inc. (NASDAQ:BKNG)

Arcadia Investment Management Corp MI lowered its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 116 shares of the business services provider’s stock after selling 10 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Booking were worth $460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. ICA Group Wealth Management LLC purchased a new position in shares of Booking in the 4th quarter valued at approximately $25,000. Grove Bank & Trust lifted its stake in shares of Booking by 133.3% in the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 4 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Booking in the 2nd quarter valued at approximately $28,000. Kings Path Partners LLC purchased a new position in shares of Booking in the 2nd quarter valued at approximately $28,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Booking in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Buying and Selling at Booking

In related news, CEO Glenn D. Fogel sold 750 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the transaction, the chief executive officer now directly owns 24,721 shares of the company’s stock, valued at $100,556,375.65. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Paulo Pisano sold 100 shares of the stock in a transaction on 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 sale, the insider now owns 3,787 shares in the company, valued at approximately $14,722,379.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn D. Fogel sold 750 shares of Booking stock in a transaction on Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the transaction, the chief executive officer now directly owns 24,721 shares of the company’s stock, valued at $100,556,375.65. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BKNG shares. B. Riley lowered their target price on Booking from $4,900.00 to $4,650.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Benchmark reduced their price objective on Booking from $4,700.00 to $4,600.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Argus raised their price objective on Booking from $4,200.00 to $4,342.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $3,900.00 price objective on shares of Booking in a research report on Monday, August 5th. Finally, Bank of America reduced their price objective on Booking from $3,950.00 to $3,750.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Booking has a consensus rating of “Moderate Buy” and a consensus target price of $4,064.21.

Booking Trading Down 0.6 %

NASDAQ BKNG traded down $23.13 on Friday, hitting $3,750.00. 27,453 shares of the company traded hands, compared to its average volume of 255,787. The company has a market capitalization of $125.70 billion, a price-to-earnings ratio of 28.36, a P/E/G ratio of 1.19 and a beta of 1.40. The business’s 50 day moving average price is $3,778.29 and its 200-day moving average price is $3,699.70. Booking Holdings Inc. has a 52-week low of $2,733.04 and a 52-week high of $4,144.32.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, topping analysts’ consensus estimates of $39.22 by $2.68. The firm had revenue of $5.86 billion during the quarter, compared to analyst estimates of $5.77 billion. Booking had a negative return on equity of 200.87% and a net margin of 22.46%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $37.62 earnings per share. As a group, sell-side analysts predict that Booking Holdings Inc. will post 177.09 earnings per share for the current year.

Booking Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $8.75 per share. The ex-dividend date is Friday, September 6th. This represents a $35.00 annualized dividend and a yield of 0.93%. Booking’s payout ratio is 26.25%.

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.