Corient Private Wealth LP Buys 560,086 Shares of Booking Holdings Inc. $BKNG

Corient Private Wealth LP boosted its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,186.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 585,708 shares of the business services provider’s stock after buying an additional 560,086 shares during the quarter. Corient Private Wealth LP’s holdings in Booking were worth $104,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in Booking by 419,256.0% during the 2nd quarter. California State Teachers Retirement System now owns 214,651,580 shares of the business services provider’s stock valued at $38,259,498,000 after buying an additional 214,600,394 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Booking in the second quarter valued at approximately $11,646,302,000. Deutsche Bank AG bought a new position in Booking in the second quarter worth approximately $1,691,186,000. Bank of New York Mellon Corp bought a new stake in Booking during the 2nd quarter valued at $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Booking by 2,525.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider’s stock valued at $1,087,597,000 after purchasing an additional 5,869,459 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Transactions at Booking

In related news, Director Robert Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director owned 14,000 shares of the company’s stock, valued at $2,800,000. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Wittman sold 375 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $211.00, for a total transaction of $79,125.00. Following the completion of the sale, the director directly owned 16,133 shares in the company, valued at approximately $3,404,063. The trade was a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 81,550 shares of company stock valued at $16,922,744. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein restated a “market perform” rating and issued a $188.00 price target on shares of Booking in a report on Wednesday, August 26th. Wells Fargo & Company set a $220.00 price target on shares of Booking and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Booking in a research report on Wednesday, August 5th. Jefferies Financial Group raised their target price on shares of Booking from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Booking in a report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $236.70.

Booking Stock Performance

Shares of BKNG stock opened at $173.92 on Friday. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $225.00. The firm has a market capitalization of $130.68 billion, a PE ratio of 19.25, a P/E/G ratio of 1.08 and a beta of 1.07. The stock’s 50-day simple moving average is $193.97 and its 200-day simple moving average is $178.85.

Booking (NASDAQ:BKNG) last released its earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the company posted $55.40 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts forecast that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s dividend payout ratio is 18.58%.

Booking Profile

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.