Pier 88 Investment Partners LLC Raises Stake in Booking Holdings Inc. (NASDAQ:BKNG)

Pier 88 Investment Partners LLC grew its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 59.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,750 shares of the business services provider’s stock after buying an additional 650 shares during the period. Booking accounts for approximately 1.7% of Pier 88 Investment Partners LLC’s portfolio, making the stock its 21st largest position. Pier 88 Investment Partners LLC’s holdings in Booking were worth $8,695,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. D.A. Davidson & CO. grew its stake in shares of Booking by 13.0% in the 3rd quarter. D.A. Davidson & CO. now owns 208 shares of the business services provider’s stock valued at $876,000 after purchasing an additional 24 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Booking in the 3rd quarter valued at $666,000. Captrust Financial Advisors increased its stake in Booking by 5.6% in the 3rd quarter. Captrust Financial Advisors now owns 1,096 shares of the business services provider’s stock valued at $4,618,000 after buying an additional 58 shares during the period. Fred Alger Management LLC purchased a new position in Booking during the 3rd quarter worth $1,007,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Booking in the 3rd quarter worth $5,223,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Price Performance

BKNG opened at $4,634.24 on Monday. Booking Holdings Inc. has a 12 month low of $3,180.00 and a 12 month high of $5,337.24. The business has a 50-day moving average of $4,779.09 and a two-hundred day moving average of $4,740.07. The stock has a market capitalization of $152.07 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating the consensus estimate of $35.82 by $5.73. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. The firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.18 billion. Equities research analysts anticipate that Booking Holdings Inc. will post 209.92 earnings per share 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 $9.60 dividend. This is an increase from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, March 7th. Booking’s dividend payout ratio is currently 22.19%.

Analyst Ratings Changes

BKNG has been the subject of several analyst reports. B. Riley increased their price target on shares of Booking from $5,700.00 to $6,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Morgan Stanley raised their price target on Booking from $4,600.00 to $5,000.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Citigroup upped their price objective on Booking from $5,500.00 to $5,800.00 and gave the stock a “buy” rating in a report on Friday, February 21st. StockNews.com raised Booking from a “hold” rating to a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of Booking from $5,575.00 to $5,750.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Ten investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5,370.43.

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.