Castellan Group Boosts Position in Booking Holdings Inc. (NASDAQ:BKNG)

Key Points

• Castellan Group increased its stake in Booking Holdings Inc. by 75.9%, owning 2,578 shares valued at approximately $11.88 million.
• The company reported an earnings beat for the quarter with $55.40 EPS, surpassing estimates by $5.08, and a revenue of $6.80 billion.
• Booking announced a quarterly dividend of $9.60 per share, set to be paid on September 30th, reflecting a dividend yield of 0.7%.

Castellan Group lifted its position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 75.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,578 shares of the business services provider's stock after purchasing an additional 1,112 shares during the quarter. Booking accounts for 3.3% of Castellan Group's investment portfolio, making the stock its 9th largest holding. Castellan Group's holdings in Booking were worth $11,877,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Booking by 521,609.7% during the 1st quarter. GAMMA Investing LLC now owns 2,363,345 shares of the business services provider's stock valued at $10,887,718,000 after acquiring an additional 2,362,892 shares during the period. Northern Trust Corp grew its stake in Booking by 18.8% in the 4th quarter. Northern Trust Corp now owns 368,628 shares of the business services provider's stock worth $1,831,499,000 after buying an additional 58,357 shares in the last quarter. Sanders Capital LLC lifted its stake in Booking by 1.4% during the fourth quarter. Sanders Capital LLC now owns 285,064 shares of the business services provider's stock worth $1,416,318,000 after purchasing an additional 3,926 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Booking by 1.6% during the fourth quarter. Deutsche Bank AG now owns 278,063 shares of the business services provider's stock worth $1,381,534,000 after acquiring an additional 4,401 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd lifted its stake in shares of Booking by 0.3% in the 1st quarter. Rothschild & Co Wealth Management UK Ltd now owns 136,309 shares of the business services provider's stock valued at $627,963,000 after acquiring an additional 472 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

Booking Trading Down 2.1%

Shares of NASDAQ:BKNG traded down $117.77 during midday trading on Friday, hitting $5,386.29. The stock had a trading volume of 199,536 shares, compared to its average volume of 184,546. Booking Holdings Inc. has a 1 year low of $3,180.00 and a 1 year high of $5,839.41. The stock has a 50 day moving average price of $5,568.80 and a two-hundred day moving average price of $5,076.22. The company has a market capitalization of $174.57 billion, a PE ratio of 37.46, a P/E/G ratio of 1.56 and a beta of 1.41.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $55.40 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.54 billion. During the same quarter last year, the business earned $41.90 earnings per share. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities 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 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 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, September 5th. Booking's payout ratio is currently 26.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Bank of America raised their price target on shares of Booking from $5,820.00 to $5,850.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley decreased their target price on Booking from $5,800.00 to $5,650.00 and set an "equal weight" rating for the company in a report on Wednesday. Cantor Fitzgerald reissued a "neutral" rating on shares of Booking in a research note on Wednesday. UBS Group increased their target price on Booking from $5,750.00 to $6,300.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Wall Street Zen upgraded Booking from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Eleven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $5,781.04.

Insider Activity

In other Booking news, CEO Glenn D. Fogel sold 1,013 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $5,695.00, for a total transaction of $5,769,035.00. Following the sale, the chief executive officer directly owned 26,633 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 3,039 shares of company stock worth $16,963,769. Insiders own 0.16% of the company's stock.

Booking 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.