Navalign LLC Cuts Position in Booking Holdings Inc. (NASDAQ:BKNG)

Navalign LLC decreased its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 329 shares of the business services provider’s stock after selling 8 shares during the quarter. Navalign LLC’s holdings in Booking were worth $1,516,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BKNG. Covestor Ltd increased its stake in shares of Booking by 6.9% during the 4th quarter. Covestor Ltd now owns 31 shares of the business services provider’s stock valued at $158,000 after acquiring an additional 2 shares during the last quarter. SageView Advisory Group LLC increased its stake in shares of Booking by 1.6% during the 4th quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider’s stock valued at $616,000 after acquiring an additional 2 shares during the last quarter. Belpointe Asset Management LLC increased its stake in shares of Booking by 2.2% during the 4th quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider’s stock valued at $472,000 after acquiring an additional 2 shares during the last quarter. Elequin Capital LP increased its stake in shares of Booking by 20.0% during the 4th quarter. Elequin Capital LP now owns 12 shares of the business services provider’s stock valued at $60,000 after acquiring an additional 2 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Booking by 6.5% during the 4th quarter. Harbour Investments Inc. now owns 49 shares of the business services provider’s stock valued at $243,000 after acquiring an additional 3 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BKNG. B. Riley increased their target price on shares of Booking from $6,000.00 to $6,100.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $5,900.00 target price on shares of Booking in a research report on Wednesday, April 30th. Wall Street Zen raised shares of Booking from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Bank of America increased their target price on shares of Booking from $5,580.00 to $5,820.00 and gave the stock a “neutral” rating in a research report on Monday, June 9th. Finally, Robert W. Baird upped their price target on Booking from $5,550.00 to $5,700.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Ten 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 stock. According to data from MarketBeat, Booking presently has an average rating of “Moderate Buy” and a consensus price target of $5,415.00.

Booking Price Performance

Shares of NASDAQ BKNG opened at $5,815.92 on Tuesday. Booking Holdings Inc. has a 1-year low of $3,180.00 and a 1-year high of $5,815.92. The business’s fifty day moving average price is $5,397.96 and its two-hundred day moving average price is $4,980.35. The firm has a market capitalization of $189.25 billion, a PE ratio of 36.18, a P/E/G ratio of 1.76 and a beta of 1.40.

Booking (NASDAQ:BKNG) last issued its earnings results on Tuesday, April 29th. The business services provider reported $24.81 earnings per share for the quarter, topping the consensus estimate of $17.57 by $7.24. Booking had a negative return on equity of 143.67% and a net margin of 22.58%. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same period last year, the company earned $20.39 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts expect that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were given a $9.60 dividend. This represents a $38.40 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, June 6th. Booking’s dividend payout ratio is presently 23.89%.

Insiders Place Their Bets

In other news, CEO Glenn D. Fogel sold 1,013 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $5,356.07, for a total transaction of $5,425,698.91. Following the transaction, the chief executive officer directly owned 27,646 shares of the company’s stock, valued at approximately $148,073,911.22. This trade represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate 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.