Booking (NASDAQ:BKNG) Stock Price Down 4.7% – Here’s What Happened

Booking Holdings Inc. (NASDAQ:BKNG)’s stock price traded down 4.7% during mid-day trading on Tuesday . The company traded as low as $4,684.23 and last traded at $4,695.98. 154,858 shares were traded during trading, a decline of 29% from the average session volume of 217,790 shares. The stock had previously closed at $4,926.80.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price objective on Booking from $4,657.00 to $4,470.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Citigroup upped their target price on shares of Booking from $4,100.00 to $5,500.00 and gave the company a “buy” rating in a report on Monday, November 4th. Tigress Financial raised their price objective on shares of Booking from $4,580.00 to $5,600.00 and gave the company a “strong-buy” rating in a research report on Monday, November 18th. Barclays increased their price target on shares of Booking from $4,500.00 to $5,100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Truist Financial raised their price target on Booking from $4,100.00 to $4,700.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Ten analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4,997.64.

Booking Price Performance

The stock has a 50-day moving average price of $5,049.41 and a 200-day moving average price of $4,391.39. The firm has a market capitalization of $155.26 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41.

Booking Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th were paid a dividend of $8.75 per share. This represents a $35.00 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, December 6th. Booking’s payout ratio is currently 23.75%.

Institutional Trading of Booking

Institutional investors and hedge funds have recently modified their holdings of the business. AE Wealth Management LLC grew its position in Booking by 15.4% in the 2nd quarter. AE Wealth Management LLC now owns 360 shares of the business services provider’s stock worth $1,427,000 after purchasing an additional 48 shares during the last quarter. Pacer Advisors Inc. raised its stake in Booking by 10.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,846 shares of the business services provider’s stock valued at $23,159,000 after acquiring an additional 567 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in Booking during the 2nd quarter worth $1,834,000. Epoch Investment Partners Inc. increased its holdings in shares of Booking by 37.5% during the second quarter. Epoch Investment Partners Inc. now owns 17,754 shares of the business services provider’s stock valued at $70,332,000 after purchasing an additional 4,844 shares during the period. Finally, Fairscale Capital LLC bought a new stake in shares of Booking during the second quarter valued at about $41,000. 92.42% of the stock is owned by institutional investors and hedge funds.

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.