Booking Holdings Inc. (NASDAQ:BKNG) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. trimmed its position in Booking Holdings Inc. (NASDAQ:BKNG) by 47.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,297 shares of the business services provider’s stock after selling 5,627 shares during the quarter. Booking comprises about 1.1% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 26th biggest holding. Coronation Fund Managers Ltd.’s holdings in Booking were worth $24,946,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BKNG. ICA Group Wealth Management LLC purchased a new position in shares of Booking in the fourth quarter worth about $25,000. Grove Bank & Trust grew its stake in Booking by 133.3% during the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 4 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in Booking in the 2nd quarter valued at about $28,000. Kings Path Partners LLC acquired a new position in shares of Booking during the 2nd quarter worth approximately $28,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Booking during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Analyst Ratings Changes

BKNG has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $3,590.00 price objective on shares of Booking in a research report on Monday. DA Davidson reduced their price target on Booking from $4,150.00 to $4,100.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Barclays cut their price objective on shares of Booking from $4,300.00 to $3,900.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Oppenheimer reduced their target price on Booking from $4,600.00 to $4,200.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Benchmark lowered their price objective on shares of 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. Eleven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4,064.21.

Insider Activity

In related news, CEO Glenn D. Fogel sold 750 shares of the firm’s stock in a transaction dated 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 owns 24,721 shares of the company’s stock, valued at $100,556,375.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Paulo Pisano sold 100 shares of Booking stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the sale, the insider now owns 3,787 shares of the company’s stock, valued at $14,722,379.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Glenn D. Fogel sold 750 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the sale, the chief executive officer now owns 24,721 shares of the company’s stock, valued at approximately $100,556,375.65. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Booking Price Performance

Shares of BKNG opened at $4,100.99 on Wednesday. The firm has a fifty day moving average price of $3,799.23 and a 200 day moving average price of $3,763.72. Booking Holdings Inc. has a 1-year low of $2,733.04 and a 1-year high of $4,272.88. The stock has a market cap of $139.14 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.40.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, topping the consensus estimate of $39.22 by $2.68. The company had revenue of $5.86 billion for 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 firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $37.62 earnings per share. As a group, equities analysts expect that Booking Holdings Inc. will post 176.92 EPS for the current fiscal year.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a $8.75 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $35.00 dividend on an annualized basis and a yield of 0.85%. Booking’s dividend payout ratio is presently 26.25%.

Booking Profile

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.