Brasada Capital Management LP Lowers Position in Booking Holdings Inc. (NASDAQ:BKNG)

Brasada Capital Management LP lowered its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 54.9% in the 4th quarter, HoldingsChannel reports. The firm owned 394 shares of the business services provider’s stock after selling 480 shares during the quarter. Brasada Capital Management LP’s holdings in Booking were worth $1,877,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Booking in the fourth quarter worth about $25,000. New Wave Wealth Advisors LLC purchased a new position in Booking during the fourth quarter worth about $25,000. Summit Securities Group LLC acquired a new position in Booking in the 4th quarter valued at about $30,000. Bernard Wealth Management Corp. purchased a new stake in shares of Booking in the 4th quarter valued at approximately $30,000. Finally, Promus Capital LLC acquired a new stake in shares of Booking during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BKNG shares. Royal Bank of Canada boosted their price objective on shares of Booking from $5,250.00 to $5,900.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Barclays boosted their price target on shares of Booking from $5,100.00 to $5,600.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. BTIG Research upgraded shares of Booking from a “neutral” rating to a “buy” rating and set a $5,500.00 price objective for the company in a research report on Friday, April 4th. Piper Sandler reaffirmed a “neutral” rating and set a $5,120.00 price target (up previously from $4,900.00) on shares of Booking in a research report on Friday, February 21st. Finally, Cfra raised shares of Booking from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5,278.66.

Booking Price Performance

BKNG stock opened at $4,598.08 on Wednesday. Booking Holdings Inc. has a 12 month low of $3,180.00 and a 12 month high of $5,337.24. The firm has a 50 day simple moving average of $4,669.30 and a 200 day simple moving average of $4,784.40. The firm has a market cap of $150.89 billion, a PE ratio of 26.57, a P/E/G ratio of 1.71 and a beta of 1.37.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating the consensus estimate of $35.82 by $5.73. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.18 billion. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. As a group, sell-side analysts expect that Booking Holdings Inc. will post 209.92 earnings per share for the current year.

Booking Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a $9.60 dividend. This is a positive change from Booking’s previous quarterly dividend of $8.75. The ex-dividend date of this dividend was Friday, March 7th. This represents a $38.40 dividend on an annualized basis and a yield of 0.84%. Booking’s dividend payout ratio (DPR) is currently 22.19%.

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.