Townsquare Capital LLC Has $16.58 Million Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

Key Points

• Townsquare Capital LLC reduced its stake in Booking Holdings Inc. by 3.6%, holding 3,597 shares worth approximately $16.58 million.
• Booking Holdings reported earnings of $55.40 per share for the last quarter, surpassing estimates by $5.08, with revenue up 16.0% year-over-year.
• CEO Glenn D. Fogel sold 1,013 shares for over $5.7 million, decreasing his ownership by 3.66%.

Townsquare Capital LLC decreased its position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,597 shares of the business services provider's stock after selling 134 shares during the period. Townsquare Capital LLC's holdings in Booking were worth $16,575,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BKNG. Kingswood Wealth Advisors LLC grew its holdings in Booking by 27.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 182 shares of the business services provider's stock worth $844,000 after acquiring an additional 39 shares in the last quarter. Point72 Europe London LLP acquired a new position in Booking during the 4th quarter worth $15,054,000. International Assets Investment Management LLC acquired a new position in Booking during the 1st quarter worth $203,000. Perigon Wealth Management LLC grew its holdings in Booking by 9.4% during the 1st quarter. Perigon Wealth Management LLC now owns 278 shares of the business services provider's stock worth $1,281,000 after acquiring an additional 24 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Booking by 13.2% during the 1st quarter. GAMMA Investing LLC now owns 513 shares of the business services provider's stock worth $2,363,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company's stock.

Analyst Ratings Changes

BKNG has been the topic of a number of recent research reports. Morgan Stanley set a $5,650.00 price target on shares of Booking and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on shares of Booking from $5,360.00 to $6,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. BMO Capital Markets reiterated an "outperform" rating and issued a $6,000.00 price objective (up from $5,700.00) on shares of Booking in a research report on Wednesday, July 30th. Barclays lifted their price objective on shares of Booking from $5,700.00 to $6,000.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Benchmark reiterated a "buy" rating and issued a $6,200.00 price objective (up from $6,000.00) on shares of Booking in a research report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $5,781.04.

Booking Stock Performance

Shares of BKNG stock traded down $26.19 during trading on Friday, hitting $5,405.91. 186,426 shares of the company were exchanged, compared to its average volume of 199,192. The firm has a market capitalization of $175.21 billion, a price-to-earnings ratio of 37.60, a P/E/G ratio of 1.56 and a beta of 1.41. The business's 50-day simple moving average is $5,569.71 and its 200 day simple moving average is $5,099.02. Booking Holdings Inc. has a twelve month low of $3,394.85 and a twelve month high of $5,839.41.

Booking (NASDAQ:BKNG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $55.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the previous year, the company earned $41.90 earnings per share. The company's revenue was up 16.0% compared to the same quarter last year. On average, equities analysts forecast that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $9.60 dividend. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, September 5th. Booking's payout ratio is presently 26.71%.

Insider Buying and Selling at Booking

In related news, CEO Glenn D. Fogel sold 1,013 shares of the business's stock in a transaction on 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 transaction, the chief executive officer owned 26,633 shares of the company's stock, valued at approximately $151,674,935. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 3,039 shares of company stock valued at $16,963,769 in the last ninety days. 0.16% of the stock is currently owned by 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.