Entropy Technologies LP Makes New $1.38 Million Investment in Booking Holdings Inc. (NASDAQ:BKNG)

Key Points

• Entropy Technologies LP acquired 300 shares of Booking Holdings Inc. (NASDAQ:BKNG), valued at approximately $1,382,000, in the first quarter.
• CEO Glenn D. Fogel sold 1,013 shares of the firm's stock for about $5.77 million, reducing his ownership by 3.66%.
• Booking recently announced a quarterly dividend of $9.60, representing a 0.7% yield, with the payment scheduled for September 30th.

Entropy Technologies LP bought a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 300 shares of the business services provider's stock, valued at approximately $1,382,000.

A number of other large investors have also recently made changes to their positions in BKNG. Brighton Jones LLC increased its stake in shares of Booking by 34.9% during the fourth quarter. Brighton Jones LLC now owns 251 shares of the business services provider's stock worth $1,249,000 after buying an additional 65 shares during the period. Revolve Wealth Partners LLC purchased a new position in Booking in the fourth quarter valued at approximately $209,000. Sagespring Wealth Partners LLC purchased a new position in Booking in the fourth quarter valued at approximately $1,179,000. Advisors Capital Management LLC increased its stake in Booking by 8.0% in the fourth quarter. Advisors Capital Management LLC now owns 81 shares of the business services provider's stock valued at $406,000 after purchasing an additional 6 shares during the last quarter. Finally, Savvy Advisors Inc. increased its stake in Booking by 20.3% in the fourth quarter. Savvy Advisors Inc. now owns 71 shares of the business services provider's stock valued at $355,000 after purchasing an additional 12 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BKNG shares. Wells Fargo & Company increased their price target on shares of Booking from $5,411.00 to $5,418.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Robert W. Baird increased their price target on shares of Booking from $5,550.00 to $5,700.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. B. Riley reiterated a "buy" rating and issued a $6,700.00 price target (up from $6,100.00) on shares of Booking in a research note on Wednesday, July 30th. Evercore ISI increased their price objective on Booking from $5,500.00 to $6,250.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. increased their price objective on Booking from $5,360.00 to $6,000.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $5,781.04.

Insider Buying and Selling

In related news, CEO Glenn D. Fogel sold 1,013 shares of Booking stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $5,695.00, for a total transaction of $5,769,035.00. Following the completion of the sale, the chief executive officer owned 26,633 shares in the company, valued at approximately $151,674,935. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 3,039 shares of company stock worth $16,963,769. Company insiders own 0.16% of the company's stock.

Booking Trading Down 0.6%

Shares of BKNG stock traded down $30.48 during mid-day trading on Friday, reaching $5,454.29. The stock had a trading volume of 157,977 shares, compared to its average volume of 205,158. Booking Holdings Inc. has a 12-month low of $3,592.28 and a 12-month high of $5,839.41. The company has a market cap of $176.77 billion, a P/E ratio of 37.93, a price-to-earnings-growth ratio of 1.58 and a beta of 1.41. The business has a 50-day simple moving average of $5,558.84 and a 200 day simple moving average of $5,120.89.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $55.40 earnings per share for the quarter, beating analysts' consensus estimates of $50.32 by $5.08. Booking had a negative return on equity of 134.19% and a net margin of 19.23%. The business had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.54 billion. During the same quarter last year, the business posted $41.90 earnings per share. The business's revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts anticipate that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $9.60 per share. This represents a $38.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, September 5th. Booking's dividend payout ratio (DPR) is currently 26.71%.

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.