Summit Global Investments Increases Stake in Booking Holdings Inc. (NASDAQ:BKNG)

Summit Global Investments lifted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 90.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 695 shares of the business services provider’s stock after buying an additional 331 shares during the quarter. Summit Global Investments’ holdings in Booking were worth $3,455,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Garner Asset Management Corp lifted its stake in shares of Booking by 0.8% in the third quarter. Garner Asset Management Corp now owns 258 shares of the business services provider’s stock valued at $1,087,000 after purchasing an additional 2 shares during the period. Optimist Retirement Group LLC increased its holdings in Booking by 2.2% in the third quarter. Optimist Retirement Group LLC now owns 91 shares of the business services provider’s stock valued at $383,000 after buying an additional 2 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Booking by 0.5% during the 3rd quarter. Raymond James Trust N.A. now owns 662 shares of the business services provider’s stock valued at $2,788,000 after acquiring an additional 3 shares during the period. Nicolet Advisory Services LLC boosted its stake in shares of Booking by 1.3% during the 3rd quarter. Nicolet Advisory Services LLC now owns 241 shares of the business services provider’s stock worth $989,000 after acquiring an additional 3 shares in the last quarter. Finally, Crewe Advisors LLC grew its holdings in shares of Booking by 1.9% in the 3rd quarter. Crewe Advisors LLC now owns 160 shares of the business services provider’s stock worth $674,000 after acquiring an additional 3 shares during the period. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Price Performance

Booking stock opened at $4,617.26 on Friday. Booking Holdings Inc. has a 12 month low of $3,180.00 and a 12 month high of $5,337.24. The company has a fifty day moving average price of $4,789.60 and a two-hundred day moving average price of $4,694.74. The company has a market cap of $151.52 billion, a PE ratio of 26.68, a P/E/G ratio of 1.71 and a beta of 1.40.

Booking (NASDAQ:BKNG) last released its quarterly earnings data 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. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. The firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.18 billion. Equities research analysts anticipate 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. Investors of record on Friday, March 7th will be paid a dividend of $9.60 per share. This is an increase from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, March 7th. Booking’s dividend payout ratio is presently 22.19%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Cantor Fitzgerald lifted their price objective on Booking from $4,900.00 to $5,540.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Oppenheimer lifted their price objective on Booking from $5,500.00 to $6,000.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Morgan Stanley increased their target price on Booking from $4,600.00 to $5,000.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Wells Fargo & Company increased their price objective on Booking from $4,470.00 to $5,248.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Finally, Barclays raised their price target on shares of Booking from $5,100.00 to $5,600.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5,370.43.

About Booking

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.