River Global Investors LLP Sells Shares of Booking Holdings Inc.

River Global Investors LLP has reduced its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 23.0% during the third quarter. According to the latest 13F filing with the Securities and Exchange Commission (SEC), the fund now owns 1,336 shares after selling 399 shares during this period. Booking Holdings accounts for about 1.2% of River Global Investors LLP's total holdings, making it the 17th largest investment for the firm. As of the end of the most recent quarter, River Global Investors LLP's holdings in Booking were valued at $5,626,000.

A number of other hedge funds have also adjusted their positions in Booking Holdings. For instance, Jamison Private Wealth Management Inc. established a new position valued at $25,000 in the third quarter. Similarly, Grove Bank & Trust increased its stake by 133.3% during the second quarter and now owns 7 shares valued at approximately $28,000. Other funds, including POM Investment Strategies LLC and Kings Path Partners LLC, also acquired new positions in Booking Holdings, both valued at $28,000. West Financial Advisors LLC joined in the acquisition with a new position in the third quarter worth $29,000. Currently, institutional investors own approximately 92.42% of the stock.

Booking Stock Performance

On Friday, Booking's stock saw an increase, trading up $22.40 to reach $4,943.27. During the trading session, 282,361 shares were exchanged, exceeding the average volume of 248,525. Booking Holdings Inc. has a 52-week low of $2,998.52 and a high of $5,060.50. The company holds a market capitalization of $163.62 billion and maintains a price-to-earnings ratio of 33.54, along with a price/earnings to growth (P/E/G) ratio of 1.56 and a beta of 1.38. The stock's 50-day simple moving average stands at $4,240.54, while the 200-day average is at $3,931.94.

Booking Dividend Announcement

The firm has recently announced a quarterly dividend, scheduled for payment on Tuesday, December 31st. Shareholders on record as of Friday, December 6th, will receive a dividend of $8.75 per share. This amounts to an annualized dividend of $35.00, translating to a yield of 0.71%. The ex-dividend date is also set for Friday, December 6th. Booking's current payout ratio is noted to be 23.75%.

Wall Street Analyst Opinions

In terms of market analysis, several analysts have recently provided insights on BKNG stock. Evercore ISI revised its price target from $4,500.00 to $4,200.00, maintaining an "outperform" rating. Meanwhile, Wedbush increased its price target from $3,900.00 to $4,750.00 with an "outperform" rating noted in a recent report. Benchmark reaffirmed a "buy" recommendation with a target price set at $4,600.00. Jefferies Financial Group also raised its price target from $4,200.00 to $4,300.00, recommending a hold rating. Mizuho increased its target from $4,800.00 to $5,400.00, also advising an "outperform" rating. Overall, 11 analysts have assigned a hold rating, while 22 analysts have a buy rating, and one analyst has issued a strong buy recommendation. As per data from MarketBeat, the consensus rating is categorized as "Moderate Buy" with an average price target of $4,749.83.

Insider Activity

In related insider activity, Paulo Pisano, one of the firm's insiders, sold 100 shares on August 27th at an average price of $3,887.61, resulting in a total transaction of $388,761.00. Following this transaction, the insider's ownership in the company decreased minimally, and they now hold 3,787 shares valued at approximately $14,722,379.07. This sale has been publicly disclosed in a filing with the SEC. Company insiders currently own about 0.12% of Booking Holdings' stock.

About Booking Holdings Inc.

Booking Holdings Inc., formerly known as The Priceline Group Inc., is a major player in providing travel and restaurant online reservation services. Through its various online travel platforms, the company links consumers wishing to make travel reservations with service providers globally. Customers can book a range of accommodations, including hotels, apartments, and vacation rentals, via platforms such as Booking.com, priceline.com, and agoda.com.

River, Investors, Booking, Shares, Stock