Overbrook Management Corp Invests $13.29 Million in Booking Holdings Inc. (NASDAQ:BKNG)

Overbrook Management Corp purchased a new position in Booking Holdings Inc. (NASDAQ:BKNG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,746 shares of the business services provider’s stock, valued at approximately $13,288,000. Booking accounts for 2.7% of Overbrook Management Corp’s holdings, making the stock its 18th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Motley Fool Asset Management LLC increased its holdings in Booking by 2.0% during the 4th quarter. Motley Fool Asset Management LLC now owns 961 shares of the business services provider’s stock worth $3,409,000 after purchasing an additional 19 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its position in Booking by 16.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 22,221 shares of the business services provider’s stock valued at $78,823,000 after purchasing an additional 3,101 shares in the last quarter. Stevens Capital Management LP bought a new stake in Booking during the 4th quarter valued at $2,792,000. Abbrea Capital LLC raised its position in Booking by 4.9% during the 4th quarter. Abbrea Capital LLC now owns 194 shares of the business services provider’s stock valued at $688,000 after purchasing an additional 9 shares in the last quarter. Finally, Meritage Portfolio Management raised its position in Booking by 7.8% during the 4th quarter. Meritage Portfolio Management now owns 4,974 shares of the business services provider’s stock valued at $17,644,000 after purchasing an additional 359 shares in the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BKNG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Booking from $3,560.00 to $3,950.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Ascendiant Capital Markets boosted their price target on Booking from $3,700.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Friday, December 29th. Erste Group Bank reissued a “hold” rating on shares of Booking in a research report on Wednesday, March 13th. BMO Capital Markets assumed coverage on Booking in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $4,150.00 price target for the company. Finally, Wedbush reissued an “outperform” rating and issued a $3,850.00 price target on shares of Booking in a research report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $3,723.41.

Insider Buying and Selling at Booking

In other Booking news, CEO Glenn D. Fogel sold 4,302 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $3,422.75, for a total transaction of $14,724,670.50. Following the completion of the transaction, the chief executive officer now owns 33,548 shares of the company’s stock, valued at $114,826,417. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Glenn D. Fogel sold 4,302 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $3,422.75, for a total value of $14,724,670.50. Following the completion of the sale, the chief executive officer now owns 33,548 shares of the company’s stock, valued at $114,826,417. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 22 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $3,583.07, for a total value of $78,827.54. Following the completion of the sale, the director now directly owns 211 shares of the company’s stock, valued at approximately $756,027.77. The disclosure for this sale can be found here. Insiders sold 5,461 shares of company stock valued at $18,815,825 over the last quarter. 0.15% of the stock is currently owned by insiders.

Booking Price Performance

NASDAQ BKNG traded down $15.04 during trading hours on Thursday, reaching $3,502.48. The company’s stock had a trading volume of 142,694 shares, compared to its average volume of 267,831. The firm has a market capitalization of $119.68 billion, a price-to-earnings ratio of 29.69, a P/E/G ratio of 1.07 and a beta of 1.40. Booking Holdings Inc. has a 1-year low of $2,456.93 and a 1-year high of $3,918.00. The company’s 50-day moving average is $3,551.02 and its two-hundred day moving average is $3,380.07.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $32.00 earnings per share for the quarter, topping analysts’ consensus estimates of $29.72 by $2.28. Booking had a negative return on equity of 751.49% and a net margin of 20.08%. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter in the prior year, the firm posted $24.74 EPS. Booking’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts forecast that Booking Holdings Inc. will post 175.86 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were issued a dividend of $8.75 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $35.00 dividend on an annualized basis and a dividend yield of 1.00%. Booking’s payout ratio is currently 29.67%.

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.