Peapack Gladstone Financial Corp Cuts Stake in Booking Holdings Inc. (NASDAQ:BKNG)

Peapack Gladstone Financial Corp reduced its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,554 shares of the business services provider’s stock after selling 496 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Booking were worth $27,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Booking by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 797,116 shares of the business services provider’s stock valued at $3,350,605,000 after buying an additional 11,211 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Booking by 0.5% during the 3rd quarter. Janus Henderson Group PLC now owns 492,274 shares of the business services provider’s stock valued at $2,073,508,000 after buying an additional 2,321 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Booking by 3.3% during the 3rd quarter. Fisher Asset Management LLC now owns 418,742 shares of the business services provider’s stock valued at $1,763,797,000 after buying an additional 13,429 shares in the last quarter. Ninety One UK Ltd grew its holdings in Booking by 3.1% during the 2nd quarter. Ninety One UK Ltd now owns 358,720 shares of the business services provider’s stock valued at $1,421,069,000 after buying an additional 10,889 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Booking by 4.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 296,599 shares of the business services provider’s stock valued at $1,249,311,000 after buying an additional 11,649 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Price Performance

BKNG stock opened at $5,268.93 on Friday. The business has a 50-day moving average price of $4,792.61 and a 200 day moving average price of $4,181.06. The company has a market capitalization of $174.40 billion, a P/E ratio of 35.75, a PEG ratio of 2.14 and a beta of 1.41. Booking Holdings Inc. has a 1-year low of $3,180.00 and a 1-year high of $5,337.24.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 annualized dividend and a dividend yield of 0.66%. Booking’s payout ratio is currently 23.75%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BKNG. JMP Securities reissued a “market outperform” rating and issued a $5,400.00 target price on shares of Booking in a report on Wednesday. Bank of America raised their target price on shares of Booking from $4,448.00 to $4,850.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Citigroup raised their target price on shares of Booking from $4,100.00 to $5,500.00 and gave the company a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada raised their target price on shares of Booking from $3,900.00 to $5,250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, StockNews.com raised shares of Booking from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Ten investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4,866.03.

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.