CenterBook Partners LP Acquires 99 Shares of Booking Holdings Inc. (NASDAQ:BKNG)
CenterBook Partners LP increased its stake in Booking Holdings Inc. (NASDAQ: BKNG) by 1.8% in the 1st quarter, as per the latest SEC disclosure. The institutional investor now holds 5,678 shares of the business services provider, adding 99 shares during the quarter. This boosted Booking’s position within CenterBook Partners LP’s portfolio to approximately 1.7%, ranking as its 6th largest holding.
At the end of the quarter, CenterBook Partners LP’s holdings in Booking were valued at $26,158,000. Other hedge funds also adjusted their positions in the company. Summit Securities Group LLC, Bernard Wealth Management Corp., Kapitalo Investimentos Ltda, Alpine Bank Wealth Management, and Minot DeBlois Advisors LLC all initiated new stakes in Booking, reflecting continued investor interest in the stock.
Expert Upgrades and Downgrades
Market analysts have recently provided their insights on Booking’s stock. Wall Street Zen upgraded Booking from a “hold” to a “buy” rating, indicating positive sentiment towards the company’s future performance. JMP Securities raised their target price on Booking from $5,600.00 to $5,700.00, giving the stock a “market outperform” rating.
In contrast, Cantor Fitzgerald decreased their price target on Booking from $5,540.00 to $4,330.00, maintaining a “neutral” stance. Erste Group Bank also revised their rating on Booking from a “strong-buy” to a “hold” rating, aligning with a more conservative outlook on the stock. These diverse expert opinions highlight the varying perspectives on Booking’s valuation and growth prospects.
Insider Trading and Price Performance
CEO Glenn D. Fogel recently sold 1,013 shares of Booking at an average price of $5,356.07, amounting to a total transaction value of $5,425,698.91. Following this sale, the CEO retains ownership of 27,646 shares in the company, valued at $148,073,911.22. This transaction signifies a 3.53% reduction in the CEO’s stake in Booking.
On the market front, Booking opened at $5,717.10 on Monday, reflecting its strong market capitalization of $186.03 billion. The stock’s performance metrics include a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 1.76, and a beta of 1.40. These indicators suggest Booking’s position as a growth-oriented investment with moderate volatility.
Financial Highlights and Dividend Announcement
Booking reported earnings of $24.81 per share for the last quarter, surpassing analysts’ expectations by $7.24. The company generated revenue of $4.76 billion, outperforming the anticipated $4.58 billion. Despite a negative return on equity of 143.67%, Booking maintained a healthy net margin of 22.58%, signaling operational efficiency.
Moreover, Booking recently declared a quarterly dividend, reinforcing its commitment to shareholder value. The dividend of $9.60 per share was paid on June 30th to investors on record as of June 6th, reflecting an annualized dividend of $38.40 and a yield of 0.67%. With a sustainable payout ratio of 23.89%, Booking continues to reward its investors while prioritizing financial stability.
Company Profile and Market Outlook
Booking Holdings Inc., previously known as The Priceline Group Inc., operates as a leading provider of online travel and restaurant reservation services globally. Through its various brands including Booking.com, priceline.com, and agoda.com, the company facilitates seamless bookings for travelers worldwide, offering a diverse range of lodging options.
As Booking maintains its position as a dominant player in the online travel industry, investors and analysts continue to monitor its strategic moves and financial performance closely. The company’s consistent revenue growth, coupled with its dividend policy and market position, position Booking as a key player in the evolving travel and hospitality sector.
For more detailed insights into Booking Holdings Inc. and recent hedge fund activities related to the stock, readers can access the latest 13F filings and insider trades via HoldingsChannel.com.
Stay informed with the latest news and performance updates on Booking by subscribing to MarketBeat.com’s free daily email newsletter.
