Booking Holdings Inc. $BKNG Shares Sold by Cresset Asset Management LLC

Key Points

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Cresset Asset Management LLC reduced its position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 11.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,137 shares of the business services provider's stock after selling 150 shares during the quarter. Cresset Asset Management LLC's holdings in Booking were worth $5,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elequin Capital LP raised its position in Booking by 20.0% in the 4th quarter. Elequin Capital LP now owns 12 shares of the business services provider's stock worth $60,000 after purchasing an additional 2 shares during the period. Fidelis Capital Partners LLC raised its position in Booking by 1.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 167 shares of the business services provider's stock worth $809,000 after purchasing an additional 2 shares during the period. WNY Asset Management LLC raised its position in Booking by 3.7% in the 1st quarter. WNY Asset Management LLC now owns 56 shares of the business services provider's stock worth $258,000 after purchasing an additional 2 shares during the period. Gries Financial LLC raised its stake in shares of Booking by 1.6% during the first quarter. Gries Financial LLC now owns 125 shares of the business services provider's stock valued at $576,000 after acquiring an additional 2 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Booking by 0.5% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 403 shares of the business services provider's stock valued at $1,854,000 after purchasing an additional 2 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BKNG has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on Booking from $5,411.00 to $5,418.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Hsbc Global Res upgraded Booking to a "strong-buy" rating in a report on Thursday, July 17th. Morgan Stanley set a $5,650.00 price target on Booking and gave the company an "equal weight" rating in a report on Wednesday, July 30th. BMO Capital Markets reiterated an "outperform" rating and issued a $6,000.00 price target (up previously from $5,700.00) on shares of Booking in a report on Wednesday, July 30th. Finally, Citigroup boosted their price target on Booking from $5,560.00 to $6,500.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Booking has an average rating of "Moderate Buy" and a consensus target price of $5,781.04.

Insiders Place Their Bets

In other Booking news, CEO Glenn D. Fogel sold 1,013 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $5,476.89, for a total value of $5,548,089.57. Following the completion of the sale, the chief executive officer directly owned 24,620 shares in the company, valued at $134,841,031.80. This trade represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,052 shares of company stock valued at $22,511,858 in the last three months. 0.16% of the stock is owned by company insiders.

Booking Stock Up 0.2%

Shares of NASDAQ BKNG traded up $10.13 during midday trading on Friday, reaching $5,720.87. 195,538 shares of the company's stock traded hands, compared to its average volume of 210,195. The stock's 50 day simple moving average is $5,577.51 and its 200-day simple moving average is $5,158.26. Booking Holdings Inc. has a one year low of $3,700.97 and a one year high of $5,839.41. The company has a market cap of $185.41 billion, a price-to-earnings ratio of 39.79, a P/E/G ratio of 1.65 and a beta of 1.41.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $55.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $50.32 by $5.08. Booking had a net margin of 19.23% and a negative return on equity of 134.19%. The firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same period last year, the firm earned $41.90 earnings per share. The company's quarterly revenue was up 16.0% on a year-over-year basis. Booking has set its Q3 2025 guidance at EPS. Equities analysts predict that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $9.60 dividend. This represents a $38.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, September 5th. Booking's dividend payout ratio (DPR) is 26.71%.

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.