Booking (NASDAQ:BKNG) Reaches New 52-Week High - Time to Buy?

Booking Holdings Inc. (NASDAQ:BKNG - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The company traded as high as $5,711.48 and last traded at $5,693.13, with a volume of 294529 shares traded. The stock had previously closed at $5,596.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. B. Riley lifted their price target on Booking from $6,000.00 to $6,100.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Bank of America boosted their target price on Booking from $5,580.00 to $5,820.00 and gave the company a "neutral" rating in a research note on Monday, June 9th. Erste Group Bank downgraded shares of Booking from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Robert W. Baird boosted their price objective on shares of Booking from $5,550.00 to $5,700.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald decreased their price objective on Booking from $5,540.00 to $4,330.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Ten 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. Based on data from MarketBeat, Booking presently has an average rating of "Moderate Buy" and a consensus target price of $5,388.37.

Booking Stock Up 1.7%

The stock has a fifty day moving average price of $5,252.37 and a two-hundred day moving average price of $4,953.57. The company has a market cap of $185.25 billion, a price-to-earnings ratio of 35.42, a P/E/G ratio of 1.70 and a beta of 1.41.

Booking (NASDAQ:BKNG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The business services provider reported $24.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $17.57 by $7.24. Booking had a net margin of 22.58% and a negative return on equity of 143.67%. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same quarter in the prior year, the business posted $20.39 EPS. The business's revenue was up 7.9% compared to the same quarter last year. Analysts predict that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $9.60 dividend. This represents a $38.40 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, June 6th. Booking's dividend payout ratio (DPR) is presently 23.89%.

Insider Activity at Booking

In related news, CEO Glenn D. Fogel sold 1,013 shares of Booking stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $5,356.07, for a total transaction of $5,425,698.91. Following the sale, the chief executive officer now directly owns 27,646 shares in the company, valued at $148,073,911.22. This trade represents a 3.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Booking

Several hedge funds and other institutional investors have recently bought and sold shares of BKNG. Brighton Jones LLC grew its stake in shares of Booking by 34.9% in the 4th quarter. Brighton Jones LLC now owns 251 shares of the business services provider's stock valued at $1,249,000 after buying an additional 65 shares during the period. Revolve Wealth Partners LLC acquired a new stake in Booking in the fourth quarter valued at approximately $209,000. Sigma Planning Corp increased its holdings in shares of Booking by 2.2% during the fourth quarter. Sigma Planning Corp now owns 138 shares of the business services provider's stock valued at $686,000 after acquiring an additional 3 shares in the last quarter. IFP Advisors Inc raised its position in shares of Booking by 15.9% during the fourth quarter. IFP Advisors Inc now owns 73 shares of the business services provider's stock worth $361,000 after purchasing an additional 10 shares during the period. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Booking by 4.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 313 shares of the business services provider's stock worth $1,555,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Booking Company 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.

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