Confluence Investment Management LLC Cuts Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

Confluence Investment Management LLC lessened its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 22.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,728 shares of the business services provider’s stock after selling 2,747 shares during the quarter. Confluence Investment Management LLC’s holdings in Booking were worth $40,976,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Portside Wealth Group LLC grew its holdings in Booking by 10.5% during the 3rd quarter. Portside Wealth Group LLC now owns 84 shares of the business services provider’s stock worth $354,000 after acquiring an additional 8 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of Booking in the 3rd quarter valued at $76,000. Kornitzer Capital Management Inc. KS lifted its position in shares of Booking by 3.6% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 5,115 shares of the business services provider’s stock worth $21,545,000 after purchasing an additional 179 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Booking by 5.3% during the third quarter. Principal Financial Group Inc. now owns 39,597 shares of the business services provider’s stock worth $166,787,000 after purchasing an additional 2,010 shares in the last quarter. Finally, Montecito Bank & Trust increased its holdings in Booking by 106.1% in the third quarter. Montecito Bank & Trust now owns 272 shares of the business services provider’s stock valued at $1,146,000 after buying an additional 140 shares during the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Booking Price Performance

Shares of BKNG stock opened at $4,920.87 on Friday. Booking Holdings Inc. has a 1-year low of $2,998.52 and a 1-year high of $5,060.50. The business’s fifty day moving average price is $4,199.26 and its 200 day moving average price is $3,914.68. The firm has a market capitalization of $162.88 billion, a PE ratio of 33.39, a P/E/G ratio of 1.49 and a beta of 1.38.

Booking Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $8.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $35.00 dividend on an annualized basis and a dividend yield of 0.71%. Booking’s dividend payout ratio is presently 23.75%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BKNG. Wells Fargo & Company upped their price objective on Booking from $3,976.00 to $4,173.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Citigroup upped their price target on Booking from $4,100.00 to $5,500.00 and gave the company a “buy” rating in a report on Monday. Susquehanna raised their price objective on shares of Booking from $4,100.00 to $5,500.00 and gave the stock a “positive” rating in a report on Friday, November 1st. StockNews.com cut shares of Booking from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, DA Davidson lifted their price target on shares of Booking from $4,100.00 to $5,005.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,749.83.

Insider Activity at Booking

In other Booking news, insider Paulo Pisano sold 100 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the transaction, the insider now directly owns 3,787 shares in the company, valued at approximately $14,722,379.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.12% of the company’s stock.

Booking 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.