Silvant Capital Management Reduces Stake in Booking Holdings to $5.9 Million

Silvant Capital Management LLC has reduced its holdings in Booking Holdings Inc. (NASDAQ: BKNG) by 1.6%, bringing its total investment to approximately $5.9 million. This decision was disclosed in the firm’s latest filing with the Securities and Exchange Commission (SEC). Following the sale of 17 shares during the second quarter, Silvant now owns 1,019 shares of the travel services provider.

Other institutional investors have also adjusted their positions in Booking Holdings recently. For instance, Brighton Jones LLC increased its stake by 34.9% during the fourth quarter, acquiring an additional 65 shares for a total of 251 shares valued at around $1.25 million. Natixis Advisors LLC has similarly added to its holdings, increasing its position by 11.5% in the first quarter, which now totals 16,715 shares valued at approximately $77 million.

The trend continues with MGO One Seven LLC, which raised its holdings by 16.1% to 706 shares worth around $3.25 million, and Harbour Investments Inc., which increased its stake by 6.1%. Currently, institutional investors hold 92.42% of Booking’s shares.

Current Financial Standing and Market Performance

On Friday, NASDAQ: BKNG opened trading at $4,911.85. The company boasts a market capitalization of $158.33 billion, with a price-to-earnings (P/E) ratio of 31.92 and a price/earnings growth (P/E/G) ratio of 1.57. The stock has experienced significant fluctuations over the past year, with a low of $4,096.23 and a high of $5,839.41. Its fifty-day and 200-day simple moving averages stand at $5,134.32 and $5,391.73, respectively.

In company news, Booking recently declared a quarterly dividend of $9.60 per share, scheduled for payment on December 31, 2023. Investors of record by December 5 will benefit from this dividend, which represents an annualized sum of $38.40 and a dividend yield of 0.8%. The company’s current dividend payout ratio (DPR) is 24.96%.

Insider Transactions and Analyst Forecasts

In a recent insider transaction, Director Larry Quinlan sold 64 shares on September 15, 2023, at an average price of $5,511.80, totaling approximately $352,755.20. Following this sale, Quinlan holds 131 shares valued at around $722,045.80, reflecting a 32.82% decrease in ownership. Another director, Robert J. Mylod, Jr., sold 40 shares on November 7, 2023, for $200,000. After the sale, Mylod owns 960 shares valued at approximately $4.8 million.

Corporate insiders have sold a total of 3,452 shares worth $17,987,397 in the past three months, with insiders currently holding just 0.16% of the company’s stock.

Wall Street analysts remain optimistic about Booking Holdings, with multiple research firms issuing favorable ratings. Erste Group Bank upgraded its rating from “hold” to “buy,” while B. Riley raised its price target from $6,700 to $6,800, maintaining a “buy” rating. Other firms, including BNP Paribas and Morgan Stanley, have set target prices of $6,100 and $6,150, respectively. Currently, the stock holds a consensus rating of “Moderate Buy,” with a target price averaging $6,141.52.

Booking Holdings Inc., previously known as The Priceline Group Inc., operates as a leading provider of online travel and restaurant reservation services, connecting consumers with travel service providers worldwide.