Booking Holdings Inc. (NASDAQ:BKNG) is Cortland Associates Inc. MO’s 2nd Largest Position

Cortland Associates Inc. MO trimmed its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,010 shares of the business services provider’s stock after selling 283 shares during the quarter. Booking makes up approximately 7.7% of Cortland Associates Inc. MO’s holdings, making the stock its 2nd biggest position. Cortland Associates Inc. MO’s holdings in Booking were worth $63,225,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Jamison Private Wealth Management Inc. bought a new position in Booking in the third quarter worth approximately $25,000. Grove Bank & Trust raised its stake in shares of Booking by 133.3% in the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after purchasing an additional 4 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in Booking during the 2nd quarter valued at approximately $28,000. Kings Path Partners LLC purchased a new stake in Booking in the second quarter valued at $28,000. Finally, West Financial Advisors LLC acquired a new stake in Booking during the third quarter worth about $29,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Price Performance

Shares of Booking stock opened at $4,749.11 on Monday. Booking Holdings Inc. has a 1 year low of $2,756.39 and a 1 year high of $4,856.60. The business has a 50-day moving average of $4,136.96 and a two-hundred day moving average of $3,886.98. The company has a market capitalization of $157.20 billion, a P/E ratio of 32.23, a price-to-earnings-growth ratio of 1.52 and a beta of 1.38.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, beating analysts’ consensus estimates of $39.22 by $2.68. The company had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $5.77 billion. Booking had a net margin of 21.85% and a negative return on equity of 166.06%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $37.62 EPS. On average, equities analysts anticipate that Booking Holdings Inc. will post 177.79 EPS for the current fiscal year.

Booking Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $8.75 per share. This represents a $35.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, December 6th. Booking’s dividend payout ratio is 23.75%.

Insiders Place Their Bets

In other Booking news, insider Paulo Pisano sold 100 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BKNG shares. Wedbush increased their price target on Booking from $3,900.00 to $4,750.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Piper Sandler boosted their target price on Booking from $3,560.00 to $4,900.00 and gave the stock a “neutral” rating in a report on Thursday. Susquehanna raised their price objective on shares of Booking from $4,100.00 to $5,500.00 and gave the stock a “positive” rating in a research report on Friday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3,590.00 price target on shares of Booking in a research note on Monday, October 7th. Finally, JMP Securities boosted their price objective on Booking from $5,000.00 to $5,400.00 and gave the company a “market outperform” rating in a report on Friday. Twelve investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4,680.18.

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.