MGB Wealth Management LLC Reduces Stock Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

MGB Wealth Management LLC reduced its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 18.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52 shares of the business services provider’s stock after selling 12 shares during the period. MGB Wealth Management LLC’s holdings in Booking were worth $219,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BKNG. Jamison Private Wealth Management Inc. purchased a new position in shares of Booking during the 3rd quarter valued at about $25,000. Grove Bank & Trust lifted its holdings in Booking by 133.3% in the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after purchasing an additional 4 shares in the last quarter. POM Investment Strategies LLC purchased a new position in Booking in the 2nd quarter worth approximately $28,000. Kings Path Partners LLC purchased a new position in Booking in the 2nd quarter worth approximately $28,000. Finally, West Financial Advisors LLC purchased a new position in Booking in the 3rd quarter worth approximately $29,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on BKNG. Wedbush boosted their price target on Booking from $3,900.00 to $4,750.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their price target on Booking from $4,900.00 to $5,200.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $4,600.00 price target on shares of Booking in a report on Tuesday, October 29th. Evercore ISI lowered their price target on Booking from $4,500.00 to $4,200.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley lifted their price objective on Booking from $4,200.00 to $4,600.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Ten analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Booking presently has an average rating of “Moderate Buy” and a consensus price target of $4,785.00.

Booking Price Performance

Shares of NASDAQ:BKNG opened at $5,177.15 on Friday. The business’s 50-day moving average is $4,482.65 and its 200 day moving average is $4,041.24. Booking Holdings Inc. has a 1 year low of $3,079.50 and a 1 year high of $5,216.00. The firm has a market capitalization of $171.36 billion, a P/E ratio of 35.13, a P/E/G ratio of 1.62 and a beta of 1.38.

Booking Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $8.75 per share. This represents a $35.00 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, December 6th. Booking’s dividend payout ratio is currently 23.75%.

Insider Activity at Booking

In related news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the sale, the insider now directly owns 3,787 shares of the company’s stock, valued at $14,722,379.07. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is currently owned by corporate insiders.

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.