Gibraltar Capital Management Inc. Trims Stake in Booking Holdings Inc. (NASDAQ:BKNG)

Gibraltar Capital Management Inc. decreased its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,546 shares of the business services provider's stock after selling 284 shares during the quarter. Booking makes up 1.5% of Gibraltar Capital Management Inc.'s portfolio, making the stock its 24th biggest holding. Gibraltar Capital Management Inc.'s holdings in Booking were worth $7,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of Booking by 521,609.7% during the first 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 in the last quarter. Norges Bank purchased a new position in Booking during the fourth quarter worth about $1,958,352,000. Arrowstreet Capital Limited Partnership boosted its holdings in Booking by 51.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 280,629 shares of the business services provider's stock valued at $1,394,283,000 after acquiring an additional 95,308 shares during the period. Northern Trust Corp lifted its holdings in Booking by 18.8% during 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 during the last quarter. Finally, Winslow Capital Management LLC grew its stake in Booking by 132.7% during the 4th quarter. Winslow Capital Management LLC now owns 88,754 shares of the business services provider's stock worth $440,967,000 after buying an additional 50,605 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

Booking Trading Down 0.8%

NASDAQ BKNG traded down $45.29 during trading hours on Wednesday, hitting $5,668.04. The company's stock had a trading volume of 185,039 shares, compared to its average volume of 248,977. The company has a market capitalization of $184.44 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 1.76 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 company's 50-day simple moving average is $5,425.41 and its two-hundred day simple moving average is $4,990.14.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The business services provider reported $24.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $17.57 by $7.24. Booking had a net margin of 22.58% and a negative return on equity of 143.67%. The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.58 billion. During the same period in the previous year, the firm earned $20.39 EPS. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. Research analysts anticipate that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a dividend of $9.60 per share. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Friday, June 6th. Booking's payout ratio is 23.89%.

Analyst Ratings Changes

Several equities research analysts have recently commented on BKNG shares. JPMorgan Chase & Co. upped their price target on Booking from $5,360.00 to $6,000.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Cantor Fitzgerald reduced their target price on shares of Booking from $5,540.00 to $4,330.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company raised their price objective on Booking from $4,692.00 to $5,411.00 and gave the stock an "equal weight" rating in a report on Monday. Piper Sandler dropped 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 research report on Monday, April 28th. Finally, BMO Capital Markets boosted their price objective on shares of Booking from $5,000.00 to $5,700.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Booking currently has an average rating of "Moderate Buy" and an average target price of $5,415.00.

Insider Buying and Selling at Booking

In related news, CEO Glenn D. Fogel sold 1,013 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $5,356.07, for a total transaction of $5,425,698.91. Following the completion of the sale, the chief executive officer owned 27,646 shares in the company, valued at approximately $148,073,911.22. This trade represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company 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.