Scharf Investments LLC Reduces Position in Booking Holdings Inc. (NASDAQ:BKNG)

Scharf Investments LLC lowered its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 27.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,451 shares of the business services provider’s stock after selling 9,063 shares during the period. Booking makes up about 2.3% of Scharf Investments LLC’s holdings, making the stock its 20th biggest position. Scharf Investments LLC’s holdings in Booking were worth $85,078,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Booking by 4.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,025 shares of the business services provider’s stock valued at $21,859,000 after buying an additional 255 shares in the last quarter. Investment Partners Asset Management Inc. purchased a new position in Booking during the first quarter valued at approximately $225,000. DGS Capital Management LLC bought a new stake in Booking during the 1st quarter worth approximately $417,000. Aspiriant LLC lifted its stake in Booking by 4.8% in the 1st quarter. Aspiriant LLC now owns 65 shares of the business services provider’s stock worth $236,000 after purchasing an additional 3 shares in the last quarter. Finally, Brookstone Capital Management boosted its holdings in Booking by 31.2% in the 1st quarter. Brookstone Capital Management now owns 265 shares of the business services provider’s stock valued at $962,000 after purchasing an additional 63 shares during the period. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Stock Performance

Shares of NASDAQ BKNG traded up $27.02 during mid-day trading on Thursday, hitting $4,009.40. 146,321 shares of the stock traded hands, compared to its average volume of 255,197. The stock has a fifty day moving average price of $3,737.22 and a 200-day moving average price of $3,616.64. The company has a market cap of $136.04 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.20 and a beta of 1.40. Booking Holdings Inc. has a 52 week low of $2,624.50 and a 52 week high of $4,040.00.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, May 2nd. The business services provider reported $20.39 EPS for the quarter, beating analysts’ consensus estimates of $14.03 by $6.36. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Booking had a net margin of 21.81% and a negative return on equity of 288.35%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $11.60 EPS. As a group, sell-side analysts predict that Booking Holdings Inc. will post 178.54 EPS for the current fiscal year.

Booking Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $8.75 per share. The ex-dividend date is Friday, June 7th. This represents a $35.00 annualized dividend and a dividend yield of 0.87%. Booking’s payout ratio is 26.25%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BKNG shares. Erste Group Bank upgraded Booking from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Wedbush reissued an “outperform” rating and set a $3,850.00 price objective on shares of Booking in a report on Tuesday, April 30th. Wells Fargo & Company raised their target price on shares of Booking from $3,435.00 to $3,494.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. JMP Securities reissued a “market outperform” rating and issued a $3,950.00 price target on shares of Booking in a research note on Monday, May 6th. Finally, HSBC raised their price objective on shares of Booking from $4,220.00 to $4,230.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3,902.54.

Insider Transactions at Booking

In other news, CEO Glenn D. Fogel sold 750 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $3,534.10, for a total transaction of $2,650,575.00. Following the completion of the transaction, the chief executive officer now directly owns 26,971 shares in the company, valued at $95,318,211.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paulo Pisano sold 227 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $3,580.75, for a total value of $812,830.25. Following the completion of the transaction, the insider now owns 4,233 shares in the company, valued at $15,157,314.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn D. Fogel sold 750 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $3,534.10, for a total value of $2,650,575.00. Following the transaction, the chief executive officer now directly owns 26,971 shares in the company, valued at $95,318,211.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,021 shares of company stock valued at $3,617,852 in the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

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.