Frank Rimerman Advisors LLC Makes New $1.83 Million Investment in Booking Holdings Inc. (NASDAQ:BKNG)

Frank Rimerman Advisors LLC acquired a new stake in Booking Holdings Inc. (NASDAQ:BKNG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 463 shares of the business services provider’s stock, valued at approximately $1,834,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in shares of Booking in the 4th quarter worth about $25,000. Grove Bank & Trust grew its stake in Booking by 133.3% during the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after buying an additional 4 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Booking during the second quarter worth approximately $28,000. Kings Path Partners LLC bought a new position in shares of Booking in the second quarter valued at approximately $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Booking in the 2nd quarter worth approximately $32,000. 92.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

BKNG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on Booking from $4,025.00 to $3,860.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Bank of America cut their price target on Booking from $3,950.00 to $3,750.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald assumed coverage on shares of Booking in a report on Thursday, September 5th. They set a “neutral” rating and a $3,590.00 price objective on the stock. Benchmark lowered their price objective on shares of Booking from $4,700.00 to $4,600.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Oppenheimer reduced their target price on shares of Booking from $4,600.00 to $4,200.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Booking presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,064.21.

Insiders Place Their Bets

In other news, CEO Glenn D. Fogel sold 750 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the transaction, the chief executive officer now directly owns 24,721 shares of the company’s stock, valued at $100,556,375.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Booking news, CEO Glenn D. Fogel sold 750 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total value of $3,050,737.50. Following the sale, the chief executive officer now owns 24,721 shares in the company, valued at approximately $100,556,375.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paulo Pisano sold 100 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total value of $388,761.00. Following the transaction, the insider now directly owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Booking Price Performance

NASDAQ BKNG opened at $4,064.01 on Monday. The stock’s 50-day moving average is $3,772.09 and its 200-day moving average is $3,729.29. Booking Holdings Inc. has a one year low of $2,733.04 and a one year high of $4,144.32. The firm has a market cap of $137.88 billion, a P/E ratio of 30.48, a P/E/G ratio of 1.21 and a beta of 1.40.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, beating analysts’ consensus estimates of $39.22 by $2.68. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. The firm had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the previous year, the firm posted $37.62 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that Booking Holdings Inc. will post 176.92 EPS for the current year.

Booking Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $8.75 per share. This represents a $35.00 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, September 6th. Booking’s dividend payout ratio (DPR) is presently 26.25%.

Booking 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.