Sienna Gestion Lowers Stock Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

Key Points

• Sienna Gestion reduced its stake in Booking Holdings Inc. by 9.9% in the first quarter, selling 369 shares and now holding a total of 3,349 shares, valued at approximately $14.997 million.
• Several institutional investors have entered new positions in Booking, contributing to institutional ownership which now stands at 92.42% of the company's stock.
• Booking recently announced a quarterly dividend of $9.60 per share, with a yield of 0.7% and a payout ratio of 26.71%.

Sienna Gestion lessened its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,349 shares of the business services provider's stock after selling 369 shares during the quarter. Booking accounts for about 1.2% of Sienna Gestion's holdings, making the stock its 13th biggest position. Sienna Gestion's holdings in Booking were worth $14,997,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC raised its holdings in Booking by 2.2% in the 4th quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider's stock valued at $472,000 after buying an additional 2 shares during the last quarter. Elequin Capital LP increased its position in Booking by 20.0% during the 4th quarter. Elequin Capital LP now owns 12 shares of the business services provider's stock valued at $60,000 after purchasing an additional 2 shares during the period. Fidelis Capital Partners LLC increased its holdings in shares of Booking by 1.2% during the first quarter. Fidelis Capital Partners LLC now owns 167 shares of the business services provider's stock valued at $809,000 after acquiring an additional 2 shares in the last quarter. WNY Asset Management LLC grew its stake in shares of Booking by 3.7% during the 1st quarter. WNY Asset Management LLC now owns 56 shares of the business services provider's stock valued at $258,000 after acquiring an additional 2 shares during the period. Finally, Gries Financial LLC raised its holdings in shares of Booking by 1.6% during the 1st quarter. Gries Financial LLC now owns 125 shares of the business services provider's stock worth $576,000 after acquiring an additional 2 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Trading Down 0.6%

NASDAQ BKNG traded down $30.48 on Friday, hitting $5,454.29. 157,977 shares of the company were exchanged, compared to its average volume of 205,158. The firm has a 50 day moving average of $5,558.84 and a two-hundred day moving average of $5,123.66. Booking Holdings Inc. has a 1-year low of $3,592.28 and a 1-year high of $5,839.41. The company has a market cap of $176.77 billion, a P/E ratio of 37.93, a P/E/G ratio of 1.57 and a beta of 1.41.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $55.40 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $6.54 billion. During the same quarter last year, the firm posted $41.90 EPS. The company's revenue was up 16.0% 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 declared 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. The ex-dividend date is Friday, September 5th. This represents a $38.40 dividend on an annualized basis and a yield of 0.7%. Booking's dividend payout ratio (DPR) is currently 26.71%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BKNG. B. Riley reaffirmed a "buy" rating and issued a $6,700.00 price objective (up from $6,100.00) on shares of Booking in a research note on Wednesday, July 30th. Wedbush restated a "neutral" rating and set a $5,900.00 price target on shares of Booking in a research note on Wednesday, July 30th. Robert W. Baird boosted their price target on shares of Booking from $5,550.00 to $5,700.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Hsbc Global Res upgraded shares of Booking to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Benchmark reiterated a "buy" rating and issued a $6,200.00 target price (up previously from $6,000.00) on shares of Booking in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5,781.04.

Insiders Place Their Bets

In related news, CEO Glenn D. Fogel sold 1,013 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $5,695.00, for a total value of $5,769,035.00. Following the sale, the chief executive officer owned 26,633 shares of the company's stock, valued at approximately $151,674,935. This represents a 3.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 3,039 shares of company stock valued at $16,963,769 in the last 90 days. 0.16% of the stock is owned by company insiders.

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.