Point72 Asia Singapore Pte. Ltd. Invests $3.08 Million in Booking Holdings Inc. (NASDAQ:BKNG)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Booking Holdings Inc. (NASDAQ:BKNG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 619 shares of the business services provider’s stock, valued at approximately $3,075,000. Booking accounts for 0.8% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its 22nd largest position.

A number of other large investors have also made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Booking in the fourth quarter worth about $25,000. New Wave Wealth Advisors LLC acquired a new position in shares of Booking in the 4th quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in Booking during the 4th quarter worth approximately $30,000. Bernard Wealth Management Corp. acquired a new stake in Booking during the 4th quarter worth approximately $30,000. Finally, Valley National Advisers Inc. lifted its stake in Booking by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock valued at $36,000 after buying an additional 6 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald lowered their price objective on shares of Booking from $5,540.00 to $4,330.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their target price on Booking from $5,750.00 to $4,850.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. JMP Securities boosted their price target on Booking from $5,600.00 to $5,700.00 and gave the company a “market outperform” rating in a report on Wednesday, April 30th. Cfra upgraded Booking from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Barclays boosted their target price on Booking from $5,100.00 to $5,600.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5,299.29.

Booking Price Performance

Shares of Booking stock opened at $5,216.55 on Thursday. The business has a fifty day simple moving average of $4,700.30 and a two-hundred day simple moving average of $4,864.57. Booking Holdings Inc. has a 1 year low of $3,180.00 and a 1 year high of $5,337.24. The company has a market capitalization of $169.75 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 1.71 and a beta of 1.42.

Booking (NASDAQ:BKNG) last posted its earnings results on Tuesday, April 29th. The business services provider reported $24.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $17.57 by $7.24. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.58 billion. During the same quarter last year, the company posted $20.39 EPS. Booking’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $9.60 dividend. This represents a $38.40 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Friday, June 6th. Booking’s payout ratio is 23.89%.

About Booking

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.