Intech Investment Management LLC Reduces Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

Intech Investment Management LLC lessened its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 56.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,431 shares of the business services provider’s stock after selling 9,534 shares during the quarter. Intech Investment Management LLC’s holdings in Booking were worth $31,300,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. purchased a new stake in shares of Booking in the third quarter worth about $25,000. Grove Bank & Trust boosted its stake in shares of Booking by 133.3% in the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after buying an additional 4 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Booking in the second quarter worth about $28,000. Kings Path Partners LLC purchased a new stake in shares of Booking in the second quarter worth about $28,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Booking in the third quarter worth about $29,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Buying and Selling

In related news, insider Paulo Pisano sold 100 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total value of $388,761.00. Following the completion of the transaction, the insider now directly owns 3,787 shares in the company, valued at approximately $14,722,379.07. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on BKNG shares. Piper Sandler upped their target price on Booking from $3,560.00 to $4,900.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company upped their price target on Booking from $3,976.00 to $4,173.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Oppenheimer upped their price target on Booking from $5,000.00 to $5,500.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group upped their price target on Booking from $3,940.00 to $4,510.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Morgan Stanley upped their price target on Booking from $4,200.00 to $4,600.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4,785.00.

Booking Stock Performance

Shares of Booking stock opened at $5,016.43 on Thursday. The firm has a market capitalization of $166.04 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 1.55 and a beta of 1.38. Booking Holdings Inc. has a fifty-two week low of $3,079.50 and a fifty-two week high of $5,069.44. The stock has a 50 day moving average of $4,431.19 and a 200 day moving average of $4,019.06.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $8.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $35.00 annualized dividend and a yield of 0.70%. Booking’s payout ratio is 23.75%.

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.