Sierra Summit Advisors LLC Has $6.83 Million Stake in Booking Holdings Inc. (NASDAQ:BKNG)

Sierra Summit Advisors LLC increased its position in Booking Holdings Inc. (NASDAQ:BKNG) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,723 shares of the business services provider’s stock after buying an additional 43 shares during the period. Booking accounts for 1.7% of Sierra Summit Advisors LLC’s portfolio, making the stock its 26th largest holding. Sierra Summit Advisors LLC’s holdings in Booking were worth $6,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rathbones Group PLC grew its position in Booking by 5.2% in the second quarter. Rathbones Group PLC now owns 44,302 shares of the business services provider’s stock worth $175,502,000 after acquiring an additional 2,176 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in Booking by 13.3% in the second quarter. Plato Investment Management Ltd now owns 1,550 shares of the business services provider’s stock worth $6,140,000 after purchasing an additional 182 shares in the last quarter. Poehling Capital Management INC. acquired a new position in Booking during the second quarter worth $1,137,000. Thompson Siegel & Walmsley LLC lifted its position in shares of Booking by 40.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,255 shares of the business services provider’s stock worth $4,972,000 after buying an additional 364 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Booking by 3.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 60,861 shares of the business services provider’s stock worth $241,100,000 after acquiring an additional 1,987 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. B. Riley reduced their target price on Booking from $4,900.00 to $4,650.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Truist Financial started coverage on shares of Booking in a research note on Friday, September 6th. They issued a “hold” rating and a $4,100.00 price objective for the company. Wedbush raised their target price on shares of Booking from $3,850.00 to $4,200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of Booking from $4,000.00 to $4,200.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Finally, Argus upped their price target on shares of Booking from $4,200.00 to $4,342.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Eleven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Booking has a consensus rating of “Moderate Buy” and an average price target of $4,064.21.

Insider Buying and Selling at Booking

In other news, CEO Glenn D. Fogel sold 750 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the sale, the chief executive officer now owns 24,721 shares in the company, valued at $100,556,375.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Glenn D. Fogel sold 750 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the transaction, the chief executive officer now directly owns 24,721 shares in the company, valued at $100,556,375.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paulo Pisano sold 100 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the sale, the insider now directly owns 3,787 shares in the company, valued at $14,722,379.07. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Booking Stock Performance

Shares of NASDAQ:BKNG opened at $3,932.59 on Monday. The company’s fifty day moving average is $3,767.76 and its 200-day moving average is $3,709.27. Booking Holdings Inc. has a 52 week low of $2,733.04 and a 52 week high of $4,144.32. The company has a market capitalization of $131.82 billion, a PE ratio of 29.49, a P/E/G ratio of 1.17 and a beta of 1.40.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, beating analysts’ consensus estimates of $39.22 by $2.68. The firm had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.77 billion. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $37.62 earnings per share. On average, analysts forecast that Booking Holdings Inc. will post 176.92 EPS for the current year.

Booking Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $8.75 per share. The ex-dividend date is Friday, September 6th. This represents a $35.00 dividend on an annualized basis and a yield of 0.89%. Booking’s dividend payout ratio is 26.25%.

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.