Booking (NASDAQ:BKNG) Hits New 52-Week High on Analyst Upgrade

Booking Holdings Inc. (NASDAQ:BKNG) reached a new 52-week high during mid-day trading 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.

BKNG has been the topic of several other reports. UBS Group upped their price objective on Booking from $5,050.00 to $5,550.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets boosted their target price on shares of Booking from $4,205.00 to $5,155.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Piper Sandler lifted their price target on shares of Booking from $3,560.00 to $4,900.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Truist Financial began coverage on shares of Booking in a research note on Friday, September 6th. They set a “hold” rating and a $4,100.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Booking from $4,900.00 to $5,200.00 and gave the company a “buy” rating in a research note on Friday. Twelve investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4,708.45.

Insider Buying and Selling

In related 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 transaction of $388,761.00. Following the sale, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.12% of the stock is owned by insiders.

Institutional Trading of Booking

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. bought a new position in Booking in the 3rd quarter valued at about $25,000. Grove Bank & Trust lifted its stake in Booking by 133.3% during the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 4 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Booking during the second quarter valued at approximately $28,000. Kings Path Partners LLC purchased a new stake in Booking in the second quarter worth $28,000. Finally, West Financial Advisors LLC purchased a new position in shares of Booking in the third quarter worth about $29,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Trading Up 1.7 %

The firm has a market cap of $160.76 billion, a PE ratio of 32.41, a price-to-earnings-growth ratio of 1.49 and a beta of 1.38. The stock has a fifty day simple moving average of $4,156.53 and a two-hundred day simple moving average of $3,896.46.

Booking Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 0.72%. The ex-dividend date is Friday, December 6th. Booking’s payout ratio is 23.75%.

Booking Company 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.