Fernbridge Capital Management LP Sells 6,508 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

Fernbridge Capital Management LP reduced its position in Booking Holdings Inc. (NASDAQ:BKNG) by 32.4% in the 3rd quarter, Holdings Channel reports. The firm owned 13,560 shares of the business services provider’s stock after selling 6,508 shares during the quarter. Booking accounts for about 3.5% of Fernbridge Capital Management LP’s portfolio, making the stock its 8th largest position. Fernbridge Capital Management LP’s holdings in Booking were worth $57,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Booking by 5.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 471 shares of the business services provider’s stock worth $1,709,000 after purchasing an additional 23 shares during the last quarter. Hancock Whitney Corp raised its holdings in shares of Booking by 17.6% during the 1st quarter. Hancock Whitney Corp now owns 375 shares of the business services provider’s stock worth $1,360,000 after acquiring an additional 56 shares during the period. XML Financial LLC boosted its position in shares of Booking by 23.7% during the 1st quarter. XML Financial LLC now owns 141 shares of the business services provider’s stock valued at $512,000 after acquiring an additional 27 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Booking during the 1st quarter valued at about $98,000. Finally, Citizens Financial Group Inc. RI raised its stake in Booking by 13.2% during the first quarter. Citizens Financial Group Inc. RI now owns 248 shares of the business services provider’s stock worth $900,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Stock Up 2.1 %

NASDAQ:BKNG opened at $5,214.72 on Wednesday. The company has a market capitalization of $172.61 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 1.59 and a beta of 1.38. Booking Holdings Inc. has a 52-week low of $3,079.50 and a 52-week high of $5,237.00. The stock has a fifty day simple moving average of $4,528.70 and a 200-day simple moving average of $4,063.21.

Booking Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $8.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $35.00 annualized dividend and a dividend yield of 0.67%. Booking’s dividend payout ratio is presently 23.75%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BKNG shares. DA Davidson raised their price objective on Booking from $4,100.00 to $5,005.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised Booking from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Barclays lifted their target price on Booking from $4,500.00 to $5,100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Booking from $4,900.00 to $5,200.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group increased their target price on Booking from $3,940.00 to $4,510.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Ten analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $4,820.50.

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.