Platinum Investment Management Ltd. Cuts Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

Platinum Investment Management Ltd. trimmed its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 80.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 200 shares of the business services provider’s stock after selling 800 shares during the period. Platinum Investment Management Ltd.’s holdings in Booking were worth $994,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Booking during the 4th quarter worth approximately $25,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Booking in the 4th quarter worth approximately $25,000. Valley National Advisers Inc. grew its holdings in shares of Booking by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock worth $36,000 after acquiring an additional 6 shares during the period. Promus Capital LLC acquired a new stake in shares of Booking in the 4th quarter worth approximately $35,000. Finally, Roxbury Financial LLC acquired a new stake in shares of Booking in the 4th quarter worth approximately $42,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Trading Down 2.0 %

Shares of BKNG opened at $4,471.51 on Wednesday. The firm has a market capitalization of $146.73 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. The stock’s fifty day simple moving average is $4,803.32 and its 200 day simple moving average is $4,691.22. Booking Holdings Inc. has a twelve month low of $3,180.00 and a twelve month high of $5,337.24.

Booking (NASDAQ:BKNG) last issued its earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share for the quarter, topping the consensus estimate of $35.82 by $5.73. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.18 billion. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. Sell-side analysts predict that Booking Holdings Inc. will post 209.92 earnings per share for the current year.

Booking Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $9.60 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 annualized dividend and a yield of 0.86%. Booking’s dividend payout ratio (DPR) is 22.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BKNG shares. Citigroup upped their price target on Booking from $5,500.00 to $5,800.00 and gave the stock a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on Booking from $5,575.00 to $5,750.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Mizuho upped their price target on Booking from $5,400.00 to $6,000.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Bank of America upped their price target on Booking from $4,850.00 to $5,522.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Finally, StockNews.com upgraded Booking from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Booking presently has a consensus rating of “Moderate Buy” and a consensus price target of $5,370.43.

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.