Booking Holdings Inc. $BKNG Stock: Sterling Capital Management LLC Lowers Position

Sterling Capital Management LLC reduced its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 18.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,054 shares of the business services provider’s stock after selling 7,863 shares during the period. Sterling Capital Management LLC’s holdings in Booking were worth $5,711,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BKNG. BlackRock Inc. bought a new stake in Booking in the 2nd quarter worth about $11,646,302,000. State Street Corp increased its stake in Booking by 2,674.6% in the 2nd quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock valued at $7,026,348,000 after buying an additional 37,999,915 shares during the last quarter. Bank of Nova Scotia increased its stake in Booking by 1,497.3% in the 1st quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider’s stock valued at $3,665,168,000 after buying an additional 816,022 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Booking during the 2nd quarter worth approximately $1,691,186,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Booking during the 2nd quarter worth approximately $1,370,455,000. 92.42% of the stock is owned by institutional investors.

Booking Stock Down 3.3%

NASDAQ BKNG opened at $155.83 on Friday. The company has a market cap of $117.09 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. The firm’s 50-day simple moving average is $176.85 and its two-hundred day simple moving average is $177.36. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $220.81.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $55.40 EPS. As a group, equities research analysts anticipate that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a dividend of $0.42 per share. The ex-dividend date was Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 1.1%. Booking’s payout ratio is currently 18.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BKNG shares. B. Riley Financial restated a “buy” rating and issued a $274.00 target price (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. TD Cowen raised Booking to a “strong-buy” rating in a report on Monday, September 14th. Mizuho set a $240.00 price target on Booking in a research report on Wednesday, August 5th. Morgan Stanley set a $230.00 price target on Booking and gave the stock an “overweight” rating in a report on Wednesday, September 16th. Finally, Bank of America reiterated a “buy” rating and set a $234.00 price target on shares of Booking in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.71.

Insider Buying and Selling

In other Booking news, CFO Ewout L. Steenbergen sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the completion of the sale, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. This trade represents a 25.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Booking stock in a transaction on Monday, August 17th. The stock was sold at an average price of $211.00, for a total value of $79,125.00. Following the completion of the sale, the director directly owned 16,133 shares of the company’s stock, valued at approximately $3,404,063. The trade was a 2.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 84,550 shares of company stock valued at $17,426,864 over the last 90 days. 0.17% of the stock is currently owned by company insiders.

Booking Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.