Booking (NASDAQ:BKNG) Reaches New 1-Year High Following Analyst Upgrade

Booking Holdings Inc. (NASDAQ:BKNG) shares reached a new 52-week high on Tuesday after Citigroup raised their price target on the stock from $4,100.00 to $5,500.00. Citigroup currently has a buy rating on the stock. Booking traded as high as $4,862.86 and last traded at $4,861.55, with a volume of 123477 shares traded. The stock had previously closed at $4,776.46.

A number of other equities analysts have also commented on the stock. Barclays raised their target price on shares of Booking from $4,500.00 to $5,100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Benchmark reissued a “buy” rating and set a $4,600.00 target price on shares of Booking in a research note on Tuesday, October 29th. JMP Securities boosted their price objective on Booking from $5,000.00 to $5,400.00 and gave the stock a “market outperform” rating in a research note on Friday. Susquehanna boosted their price objective on shares of Booking from $4,100.00 to $5,500.00 and gave the company a “positive” rating in a report on Friday. Finally, Piper Sandler raised their price objective on shares of Booking from $3,560.00 to $4,900.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4,708.45.

Insider Transactions at Booking

In other news, 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 value of $388,761.00. Following the sale, the insider now directly owns 3,787 shares in the company, valued at $14,722,379.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Booking

Several institutional investors and hedge funds have recently made changes to their positions in the business. Team Hewins LLC lifted its stake in Booking by 1.7% during the first quarter. Team Hewins LLC now owns 182 shares of the business services provider’s stock valued at $660,000 after purchasing an additional 3 shares during the last quarter. Csenge Advisory Group lifted its holdings in shares of Booking by 4.7% during the 1st quarter. Csenge Advisory Group now owns 67 shares of the business services provider’s stock worth $243,000 after acquiring an additional 3 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Booking by 0.3% in the first quarter. Bleakley Financial Group LLC now owns 869 shares of the business services provider’s stock valued at $3,153,000 after buying an additional 3 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Booking by 0.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 403 shares of the business services provider’s stock worth $1,461,000 after purchasing an additional 3 shares during the period. Finally, CVA Family Office LLC grew its position in shares of Booking by 8.1% in the 2nd quarter. CVA Family Office LLC now owns 40 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 3 shares during the period. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Stock Performance

The stock has a market cap of $160.76 billion, a price-to-earnings ratio of 32.41, a P/E/G ratio of 1.49 and a beta of 1.38. The business has a 50-day simple moving average of $4,156.53 and a two-hundred day simple moving average of $3,896.46.

Booking Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a dividend of $8.75 per share. This represents a $35.00 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, December 6th. Booking’s payout ratio is 23.75%.

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.