Summit Securities Group LLC Takes $30,000 Position in Booking Holdings Inc. (NASDAQ:BKNG)

Summit Securities Group LLC bought a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 6 shares of the business services provider’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Booking during the fourth quarter valued at approximately $25,000. New Wave Wealth Advisors LLC acquired a new stake in Booking in the 4th quarter valued at $25,000. Promus Capital LLC bought a new stake in Booking in the fourth quarter valued at $35,000. Valley National Advisers Inc. raised its stake in Booking by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock worth $36,000 after acquiring an additional 6 shares in the last quarter. Finally, Roxbury Financial LLC bought a new position in shares of Booking during the fourth quarter valued at $42,000. Institutional investors own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Booking from $5,575.00 to $5,750.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Piper Sandler reaffirmed a “neutral” rating and set a $5,120.00 price objective (up from $4,900.00) on shares of Booking in a research note on Friday, February 21st. BMO Capital Markets lifted their target price on shares of Booking from $5,155.00 to $5,900.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Bank of America increased their price target on Booking from $4,850.00 to $5,522.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley lifted their price objective on Booking from $4,600.00 to $5,000.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Booking has a consensus rating of “Moderate Buy” and a consensus target price of $5,370.43.

Booking Trading Down 2.5 %

Shares of NASDAQ BKNG opened at $4,634.24 on Monday. The business’s 50 day moving average is $4,779.09 and its 200-day moving average is $4,740.07. The firm has a market cap of $152.07 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. Booking Holdings Inc. has a 1-year low of $3,180.00 and a 1-year high of $5,337.24.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $41.55 earnings per share for the quarter, beating the consensus estimate of $35.82 by $5.73. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Analysts forecast that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $9.60 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 annualized dividend and a dividend yield of 0.83%. Booking’s payout ratio is 22.19%.

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.