Booking Holdings Inc. (NASDAQ:BKNG) Sees Large Decrease in Short Interest

Booking Holdings Inc. (NASDAQ:BKNG) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 705,700 shares, a decline of 8.9% from the September 15th total of 774,900 shares. Based on an average daily trading volume, of 249,600 shares, the days-to-cover ratio is presently 2.8 days. Approximately 2.1% of the shares of the stock are sold short.

Booking Stock Up 0.7 %

Shares of NASDAQ BKNG traded up $29.50 on Wednesday, reaching $4,337.27. 123,889 shares of the company’s stock traded hands, compared to its average volume of 248,224. The business’s 50 day simple moving average is $3,922.03 and its two-hundred day simple moving average is $3,807.84. Booking has a 12 month low of $2,733.04 and a 12 month high of $4,371.17. The company has a market cap of $147.15 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 1.31 and a beta of 1.40.

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

Booking Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a dividend of $8.75 per share. This represents a $35.00 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Friday, September 6th. Booking’s payout ratio is 26.25%.

Analysts Set New Price Targets

Several analysts have weighed in on BKNG shares. DA Davidson lowered their price target on Booking from $4,150.00 to $4,100.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Evercore ISI dropped their target price on shares of Booking from $4,500.00 to $4,200.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Truist Financial assumed coverage on shares of Booking in a research note on Friday, September 6th. They issued a “hold” rating and a $4,100.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Booking from $4,025.00 to $3,860.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of Booking from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Eleven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,130.18.

Insider Buying and Selling at Booking

In other news, insider Paulo Pisano sold 100 shares of the firm’s 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 value of $388,761.00. Following the completion of the transaction, the insider now directly owns 3,787 shares in the company, valued at approximately $14,722,379.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Booking

Hedge funds have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC bought a new position in shares of Booking during the fourth quarter valued at $276,000. Integrated Advisors Network LLC boosted its holdings in shares of Booking by 5.1% during the 4th quarter. Integrated Advisors Network LLC now owns 269 shares of the business services provider’s stock valued at $954,000 after acquiring an additional 13 shares during the last quarter. Centaurus Financial Inc. raised its holdings in shares of Booking by 47.7% during the fourth quarter. Centaurus Financial Inc. now owns 96 shares of the business services provider’s stock valued at $341,000 after purchasing an additional 31 shares during the last quarter. SageView Advisory Group LLC lifted its position in Booking by 163.1% during the fourth quarter. SageView Advisory Group LLC now owns 221 shares of the business services provider’s stock valued at $786,000 after purchasing an additional 137 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new stake in Booking in the fourth quarter worth approximately $1,752,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

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.