Booking Holdings Inc. $BKNG Shares Sold by Provident Investment Management Inc.

Provident Investment Management Inc. cut its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,642 shares of the business services provider’s stock after selling 14,955 shares during the period. Booking makes up 2.8% of Provident Investment Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Provident Investment Management Inc.’s holdings in Booking were worth $27,962,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Allworth Financial LP raised its position in shares of Booking by 1,615.6% in the second quarter. Allworth Financial LP now owns 13,931 shares of the business services provider’s stock valued at $2,483,000 after purchasing an additional 13,119 shares during the period. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Booking in the second quarter worth $11,687,000. MBM Wealth Consultants LLC boosted its holdings in shares of Booking by 2,860.8% during the 2nd quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider’s stock worth $2,238,000 after buying an additional 12,130 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Booking by 2,549.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 88,949 shares of the business services provider’s stock worth $16,077,000 after buying an additional 85,592 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in shares of Booking by 4,630.9% during the 2nd quarter. QRG Capital Management Inc. now owns 24,175 shares of the business services provider’s stock worth $4,309,000 after buying an additional 23,664 shares during the period. 92.42% of the stock is currently owned by institutional investors.

Booking Price Performance

Shares of BKNG opened at $155.83 on Monday. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $220.81. The firm has a market capitalization of $117.09 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 0.96 and a beta of 1.13. The stock’s 50-day moving average price is $176.85 and its 200 day moving average price is $177.37.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating the consensus estimate of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the prior year, the firm posted $55.40 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts expect that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, September 11th. Booking’s dividend payout ratio is presently 18.58%.

Insider Transactions at Booking

In other Booking news, Director Vanessa Wittman sold 1,125 shares of Booking stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the sale, the director owned 16,508 shares in the company, valued at $3,169,536. The trade was a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter Millones, Jr. sold 50,050 shares of Booking stock in a transaction on Monday, August 17th. The stock was sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the sale, the vice president owned 375,025 shares in the company, valued at $77,851,439.75. This represents a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 84,550 shares of company stock valued at $17,426,864 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BKNG shares. Bank of America reiterated a “buy” rating and issued a $234.00 target price on shares of Booking in a research note on Wednesday, August 5th. BTIG Research reissued a “buy” rating and set a $250.00 target price on shares of Booking in a research report on Thursday. Argus upped their price target on shares of Booking from $210.00 to $245.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Booking from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, TD Cowen raised Booking to a “strong-buy” rating in a research report on Monday, September 14th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Booking currently has an average rating of “Moderate Buy” and an average price target of $233.71.

About Booking

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.