Caxton Associates LLP Takes Position in Booking Holdings Inc. $BKNG

Key Points

• Caxton Associates LLP has acquired a new stake in Booking Holdings Inc., purchasing 471 shares worth approximately $2.17 million in Q1 2023.
• Booking's CEO, Glenn D. Fogel, sold 1,013 shares for over $5.5 million, reducing his position by 3.95%, while insiders sold a total of 4,052 shares valued at $22.5 million in the past three months.
• Several analysts have increased their price targets for Booking's stock, with Royal Bank of Canada raising it to $6,100, reflecting a positive outlook for the company.

Caxton Associates LLP purchased a new stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 471 shares of the business services provider's stock, valued at approximately $2,170,000.

A number of other large investors also recently modified their holdings of BKNG. Brighton Jones LLC lifted 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 acquiring an additional 65 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in Booking during the 4th quarter worth $209,000. Fire Capital Management LLC bought a new position in Booking during the 4th quarter worth $248,000. Graham Capital Management L.P. bought a new position in Booking during the 4th quarter worth $224,000. Finally, Minot DeBlois Advisors LLC bought a new position in Booking during the 4th quarter worth $50,000. 92.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Glenn D. Fogel sold 1,013 shares of the business's stock in a transaction dated Friday, August 15th. The stock was 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 of the company's stock, valued at $134,841,031.80. The trade was a 3.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 4,052 shares of company stock valued at $22,511,858. Insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BKNG shares. Royal Bank Of Canada raised their target price on Booking from $5,900.00 to $6,100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on Booking from $5,360.00 to $6,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Evercore ISI raised their target price on Booking from $5,500.00 to $6,250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Wedbush reaffirmed a "neutral" rating and set a $5,900.00 target price on shares of Booking in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company raised their target price on Booking from $5,411.00 to $5,418.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5,808.81.

Booking Trading Up 1.2%

BKNG stock opened at $5,569.70 on Tuesday. The stock has a 50-day moving average price of $5,611.49 and a 200-day moving average price of $5,204.07. Booking Holdings Inc. has a 1-year low of $3,718.58 and a 1-year high of $5,839.41. The firm has a market cap of $180.51 billion, a PE ratio of 38.73, a price-to-earnings-growth ratio of 1.59 and a beta of 1.39.

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

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $9.60 dividend. This represents a $38.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, September 5th. Booking's payout ratio is presently 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.

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