Procyon Advisors LLC Acquires 273 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

Procyon Advisors LLC increased its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 103.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 537 shares of the business services provider's stock after purchasing an additional 273 shares during the quarter. Procyon Advisors LLC's holdings in Booking were worth $2,475,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new position in shares of Booking during the fourth quarter worth approximately $30,000. Bernard Wealth Management Corp. acquired a new position in shares of Booking during the fourth quarter worth approximately $30,000. Promus Capital LLC acquired a new position in shares of Booking during the fourth quarter worth approximately $35,000. Roxbury Financial LLC acquired a new position in shares of Booking during the fourth quarter worth approximately $42,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Booking during the fourth quarter worth approximately $40,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Trading Up 0.8%

Shares of BKNG traded up $44.09 during trading hours on Friday, hitting $5,614.61. 174,065 shares of the stock traded hands, compared to its average volume of 246,954. Booking Holdings Inc. has a 1-year low of $3,180.00 and a 1-year high of $5,639.70. The firm has a market capitalization of $182.70 billion, a PE ratio of 32.45, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. The business has a fifty day moving average of $4,990.30 and a 200-day moving average of $4,933.48.

Booking (NASDAQ:BKNG - Get Free Report) last released its earnings results on Tuesday, April 29th. The business services provider reported $24.81 earnings per share for the quarter, beating the consensus estimate of $17.57 by $7.24. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same quarter in the prior year, the firm posted $20.39 earnings per share. The company's quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts expect that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $9.60 dividend. This represents a $38.40 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, June 6th. Booking's payout ratio is 23.89%.

Analysts Set New Price Targets

BKNG has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Booking from $5,360.00 to $6,000.00 and gave the company an "overweight" rating in a research report on Wednesday. Royal Bank of Canada restated an "outperform" rating and set a $5,900.00 price objective on shares of Booking in a research report on Wednesday, April 30th. Benchmark boosted their price objective on Booking from $5,000.00 to $5,900.00 and gave the company a "buy" rating in a research report on Friday, February 21st. BTIG Research upgraded Booking from a "neutral" rating to a "buy" rating and set a $5,500.00 price objective on the stock in a research report on Friday, April 4th. Finally, Wall Street Zen upgraded Booking from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $5,377.33.

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.