EdgeRock Capital LLC Takes $68,000 Position in Booking Holdings Inc. (NASDAQ:BKNG)

EdgeRock Capital LLC acquired a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19 shares of the business services provider’s stock, valued at approximately $68,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Activest Wealth Management bought a new position in shares of Booking in the 4th quarter valued at approximately $25,000. Naples Money Management LLC bought a new position in shares of Booking in the fourth quarter valued at approximately $25,000. Valued Wealth Advisors LLC bought a new stake in shares of Booking during the 4th quarter worth $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in Booking in the 4th quarter valued at $28,000. Finally, Bourgeon Capital Management LLC bought a new position in Booking in the 4th quarter worth $28,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Buying and Selling

In other news, CEO Glenn D. Fogel sold 4,302 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $3,422.75, for a total transaction of $14,724,670.50. Following the completion of the transaction, the chief executive officer now directly owns 33,548 shares in the company, valued at $114,826,417. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paulo Pisano sold 300 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $3,485.00, for a total value of $1,045,500.00. Following the completion of the sale, the insider now directly owns 4,233 shares in the company, valued at approximately $14,752,005. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Glenn D. Fogel sold 4,302 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $3,422.75, for a total transaction of $14,724,670.50. Following the completion of the transaction, the chief executive officer now directly owns 33,548 shares in the company, valued at $114,826,417. The disclosure for this sale can be found here. Insiders sold a total of 5,424 shares of company stock valued at $18,673,145 in the last three months. Insiders own 0.12% of the company’s stock.

Booking Price Performance

Booking stock traded up $54.59 during mid-day trading on Wednesday, hitting $3,660.00. 273,215 shares of the company’s stock traded hands, compared to its average volume of 270,288. Booking Holdings Inc. has a fifty-two week low of $2,456.93 and a fifty-two week high of $3,918.00. The stock has a market cap of $124.18 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 1.08 and a beta of 1.40. The firm has a 50 day simple moving average of $3,528.95 and a two-hundred day simple moving average of $3,418.38.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $20.39 earnings per share for the quarter, topping the consensus estimate of $14.03 by $6.36. Booking had a negative return on equity of 288.35% and a net margin of 21.81%. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter last year, the business earned $11.60 EPS. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. On average, research analysts anticipate that Booking Holdings Inc. will post 176.46 earnings per share for the current fiscal year.

Booking Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $8.75 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $35.00 dividend on an annualized basis and a yield of 0.96%. Booking’s payout ratio is 26.25%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BKNG. Erste Group Bank restated a “hold” rating on shares of Booking in a report on Wednesday, March 13th. B. Riley began coverage on Booking in a report on Wednesday, April 3rd. They issued a “buy” rating and a $4,400.00 target price on the stock. Seaport Res Ptn reaffirmed a “buy” rating on shares of Booking in a report on Tuesday, February 20th. BMO Capital Markets reissued an “outperform” rating and issued a $4,205.00 price objective (up previously from $4,150.00) on shares of Booking in a research note on Friday, May 3rd. Finally, Evercore ISI raised their target price on Booking from $3,800.00 to $4,500.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Ten analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3,844.48.

About Booking

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.