University of Texas Texas AM Investment Management Co. Reduces Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

University of Texas Texas AM Investment Management Co. trimmed its position in Booking Holdings Inc. (NASDAQ:BKNG) by 9.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 954 shares of the business services provider’s stock after selling 97 shares during the quarter. Booking comprises 0.7% of University of Texas Texas AM Investment Management Co.’s holdings, making the stock its 26th largest position. University of Texas Texas AM Investment Management Co.’s holdings in Booking were worth $3,779,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new stake in Booking in the fourth quarter valued at $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 acquired a new stake in Booking during the second quarter worth about $28,000. Kings Path Partners LLC purchased a new position in Booking during the second quarter valued at approximately $28,000. Finally, Financial Connections Group Inc. acquired a new position in Booking in the second quarter valued at approximately $31,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Trading Down 2.6 %

BKNG opened at $4,100.99 on Wednesday. The stock’s 50-day moving average price is $3,799.23 and its 200 day moving average price is $3,763.72. Booking Holdings Inc. has a 12-month low of $2,733.04 and a 12-month high of $4,272.88. The firm has a market cap of $139.14 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 1.27 and a beta of 1.40.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, beating the consensus estimate of $39.22 by $2.68. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. The business had revenue of $5.86 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the firm posted $37.62 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts forecast that Booking Holdings Inc. will post 176.92 earnings per share for the current year.

Booking Announces Dividend

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

Wall Street Analyst Weigh In

BKNG has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $3,900.00 price objective on shares of Booking in a research note on Monday, August 5th. Wedbush lifted their price objective on shares of Booking from $3,850.00 to $4,200.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. B. Riley lowered their target price on shares of Booking from $4,900.00 to $4,650.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on Booking from $4,275.00 to $4,105.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Argus upped their price target on Booking from $4,200.00 to $4,342.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Eleven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4,064.21.

Insider Activity at Booking

In other news, CEO Glenn D. Fogel sold 750 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 24,721 shares of the company’s stock, valued at $100,556,375.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Paulo Pisano sold 100 shares of the business’s 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 transaction of $388,761.00. Following the completion of the sale, the insider now owns 3,787 shares in the company, valued at $14,722,379.07. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Glenn D. Fogel sold 750 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 24,721 shares in the company, valued at approximately $100,556,375.65. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Booking Company 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.