Allegiance Financial Group Advisory Services LLC Makes New Investment in Booking Holdings Inc. (NASDAQ:BKNG)

Allegiance Financial Group Advisory Services LLC bought a new position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 72 shares of the business services provider's stock, valued at approximately $332,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Covestor Ltd boosted its position in shares of Booking by 6.9% in the fourth quarter. Covestor Ltd now owns 31 shares of the business services provider's stock worth $158,000 after buying an additional 2 shares during the period. SageView Advisory Group LLC boosted its position in Booking by 1.6% during the 4th quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider's stock valued at $616,000 after purchasing an additional 2 shares during the period. Belpointe Asset Management LLC boosted its position in Booking by 2.2% during the 4th quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider's stock valued at $472,000 after purchasing an additional 2 shares during the period. Elequin Capital LP boosted its holdings in shares of Booking by 20.0% during the fourth quarter. Elequin Capital LP now owns 12 shares of the business services provider's stock valued at $60,000 after acquiring an additional 2 shares during the period. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of Booking by 1.2% during the first quarter. Fidelis Capital Partners LLC now owns 167 shares of the business services provider's stock valued at $809,000 after acquiring an additional 2 shares during the period. Hedge funds and other institutional investors own 92.42% of the company's stock.

Insider Activity

In other Booking news, CEO Glenn D. Fogel sold 1,013 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $5,695.00, for a total value of $5,769,035.00. Following the sale, the chief executive officer directly owned 26,633 shares in the company, valued at $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 is available at the SEC website. Insiders have sold a total of 3,039 shares of company stock valued at $16,963,769 in the last 90 days. Company insiders own 0.16% of the company's stock.

Booking Stock Performance

Shares of NASDAQ BKNG traded up $24.14 during trading on Friday, hitting $5,708.08. The company had a trading volume of 40,847 shares, compared to its average volume of 247,474. The company has a market cap of $185.74 billion, a P/E ratio of 35.51, a PEG ratio of 1.73 and a beta of 1.40. Booking Holdings Inc. has a 52 week low of $3,180.00 and a 52 week high of $5,839.41. The business's 50-day moving average is $5,489.29 and its 200 day moving average is $5,016.25.

Booking (NASDAQ:BKNG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The business services provider reported $24.81 earnings per share for the quarter, topping the consensus estimate of $17.57 by $7.24. The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. Booking had a negative return on equity of 143.67% and a net margin of 22.58%. The business's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $20.39 EPS. On average, research analysts expect 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 was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a $9.60 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $38.40 annualized dividend and a dividend yield of 0.67%. Booking's payout ratio is 23.89%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BKNG. Piper Sandler reduced their price target on shares of Booking from $5,120.00 to $5,077.00 and set a "neutral" rating for the company in a report on Monday, April 28th. UBS Group cut their target price on Booking from $5,960.00 to $5,557.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Wells Fargo & Company lifted their price objective on Booking from $4,692.00 to $5,411.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Bank of America boosted their price target 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. Finally, JPMorgan Chase & Co. upped their price objective on Booking from $5,360.00 to $6,000.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $5,453.15.

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.

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