SteelPeak Wealth LLC Sells 84,073 Shares of Booking Holdings Inc. $BKNG

SteelPeak Wealth LLC cut its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 97.6% in the 3rd quarter, Holdings Channel reports. The firm owned 2,034 shares of the business services provider’s stock after selling 84,073 shares during the period. SteelPeak Wealth LLC’s holdings in Booking were worth $331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SHP Wealth Management bought a new stake in shares of Booking during the 4th quarter valued at about $105,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Booking during the fourth quarter valued at about $123,000. Poehling Capital Management INC. raised its stake in Booking by 24.3% in the first quarter. Poehling Capital Management INC. now owns 286 shares of the business services provider’s stock worth $1,204,000 after buying an additional 56 shares in the last quarter. Apollon Wealth Management LLC raised its stake in Booking by 6.2% in the first quarter. Apollon Wealth Management LLC now owns 957 shares of the business services provider’s stock worth $4,031,000 after buying an additional 56 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Booking by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 1,497 shares of the business services provider’s stock worth $6,304,000 after buying an additional 57 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Booking news, CFO Ewout L. Steenbergen sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mylod, Jr. sold 1,000 shares of Booking stock in a transaction that occurred 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 transaction, the director owned 14,000 shares of the company’s stock, valued at $2,800,000. The trade was a 6.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 84,550 shares of company stock valued at $17,426,864. Insiders own 0.17% of the company’s stock.

Booking Trading Up 0.8%

Shares of BKNG stock opened at $163.92 on Wednesday. The company’s fifty day moving average price is $180.09 and its 200-day moving average price is $177.47. The stock has a market cap of $123.17 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $220.81.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results 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. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period last year, the business earned $55.40 EPS. Booking’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts forecast that Booking Holdings Inc. will post 10.48 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. Shareholders of record on Friday, September 11th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, September 11th. Booking’s dividend payout ratio is 18.58%.

Analyst Ratings Changes

Several analysts have commented on BKNG shares. Argus raised their price objective on shares of Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Rosenblatt Securities initiated coverage on Booking in a research report on Tuesday, September 1st. They set a “buy” rating and a $245.00 price objective on the stock. Weiss Ratings upgraded Booking from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wells Fargo & Company reissued a “reduce” rating and issued a $190.00 target price (down from $220.00) on shares of Booking in a research report on Wednesday, October 7th. Finally, Evercore reissued an “outperform” rating and issued a $270.00 target price on shares of Booking in a research report on Monday, August 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Booking currently has an average rating of “Moderate Buy” and an average target price of $233.71.

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.