Fenimore Asset Management Inc Sells 3,408 Shares of Booking Holdings Inc. $BKNG

Fenimore Asset Management Inc cut its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 500,147 shares of the business services provider’s stock after selling 3,408 shares during the quarter. Booking accounts for approximately 1.8% of Fenimore Asset Management Inc’s holdings, making the stock its 24th biggest position. Fenimore Asset Management Inc owned approximately 0.07% of Booking worth $81,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BKNG. BlackRock Inc. acquired a new stake in shares of Booking in the 2nd quarter worth $11,646,302,000. State Street Corp boosted its holdings in shares of Booking by 2,674.6% in the second quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock valued at $7,026,348,000 after acquiring an additional 37,999,915 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Booking during the second quarter worth about $1,691,186,000. Bank of New York Mellon Corp purchased a new position in Booking during the second quarter worth about $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Booking by 2,525.5% during the second 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 worth $1,087,597,000 after purchasing an additional 5,869,459 shares in the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Stock Up 2.6%

Shares of BKNG traded up $4.10 on Thursday, reaching $159.97. The stock had a trading volume of 7,777,094 shares, compared to its average volume of 8,239,592. The firm has a market capitalization of $120.20 billion, a PE ratio of 17.71, a PEG ratio of 0.98 and a beta of 1.13. The firm has a 50-day moving average of $187.59 and a 200 day moving average of $178.12. Booking Holdings Inc. has a twelve month low of $150.14 and a twelve month 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 the consensus estimate of $2.43 by $0.11. The firm had revenue of $7.35 billion during 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%.Booking’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $55.40 earnings per share. On average, sell-side analysts anticipate that Booking Holdings Inc. will post 10.49 earnings per share for the current fiscal year.

Booking Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a $0.42 dividend. 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%.

Insiders Place Their Bets

In related news, insider Paulo Pisano sold 1,500 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $173.02, for a total value of $259,530.00. Following the sale, the insider directly owned 71,900 shares of the company’s stock, valued at approximately $12,440,138. This represents a 2.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 83,050 shares of company stock worth $17,182,274. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BKNG shares. Morgan Stanley set a $230.00 price objective on shares of Booking and gave the company an “overweight” rating in a research report on Wednesday, September 16th. Citigroup reissued a “market perform” rating on shares of Booking in a research note on Thursday, September 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $230.00 price target on shares of Booking in a report on Wednesday, August 5th. Benchmark lifted their price target on Booking from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $274.00 price objective (up from $264.00) on shares of Booking in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $235.38.

About Booking

Booking Holdings Inc is a global online travel and restaurant reservation company headquartered in Norwalk, Connecticut. Through its digital platforms, the company helps consumers search for, compare and reserve accommodations, flights, rental cars, vacation packages, attractions and restaurant reservations.

Its portfolio includes Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and the travel metasearch brands Momondo and Cheapflights. Booking.com is primarily known for lodging reservations, while Priceline focuses on travel deals, Agoda serves customers across international markets with a strong presence in Asia, KAYAK and its related brands provide travel search and comparison services, and OpenTable operates a restaurant reservation platform.

The company was founded in 1997 as Priceline.com and was later renamed The Priceline Group before adopting the Booking Holdings name in 2018.