Short Interest in Booking Holdings Inc. (NASDAQ:BKNG) Sees 21.7% Decrease

Booking Holdings Inc. (NASDAQ:BKNG) experienced a notable drop in its short interest this November. As of November 15th, the total short interest stood at 624,100 shares, marking a significant decrease of 21.7% compared to 796,800 shares on October 31st. This decline reflects that approximately 1.9% of the company's shares are currently short sold. With an average daily trading volume of 222,400 shares, the days-to-cover ratio is at 2.8 days, indicating a relatively manageable level of short selling.

Large Investors Adjust Positions

Recently, several large investors have made moves regarding their holdings in Booking. For instance, Icon Wealth Advisors LLC boosted its stake in Booking Holdings by an astonishing 342,723.5% during the third quarter. After acquiring an additional 233,052 shares, their total ownership has reached 233,120 shares, valued at approximately $981,929,000. Additionally, International Assets Investment Management LLC has established a new position in the company worth about $5,322,600,000 in the same quarter. Harvard Management Co. Inc. also purchased shares valued around $155,427,000. In another significant move, 1832 Asset Management L.P. enhanced its proportion in Booking by 106.0% in the previous quarter, resulting in ownership of 71,334 shares valued at $282,590,000. Finally, AustralianSuper Pty Ltd increased its holdings by 2,315.8% in the second quarter, acquiring 36,793 shares valued at $145,755,000. Overall, institutional investors and hedge funds own 92.42% of Booking's stock.

Insights from Wall Street Analysts

Various research firms are weighing in on Booking's stock. Evercore ISI recently lowered their price target from $4,500.00 to $4,200.00 but still maintained an "outperform" rating on the stock. Conversely, Tigress Financial increased their target price from $4,580.00 to $5,600.00 and offered a "strong-buy" rating in a recent report. Argus lowered their stance on Booking from "strong-buy" to "hold" as of October 31st. Additionally, Truist Financial raised their price target from $4,100.00 to $4,700.00, issuing a "hold" rating. Robert W. Baird has initiated coverage on Booking with an "outperform" rating and a target price of $5,850.00. A total of ten equities research analysts have designated the stock as a hold, while twenty-three analysts have given a buy rating, and two have provided a strong buy rating. Overall, the consensus rating stands at "Moderate Buy" with an average price target of $4,820.50, according to MarketBeat.com.

Current Stock Performance

As of Friday, BKNG shares opened at $5,201.98. The stock's fifty-day moving average is recorded at $4,599.47, while the 200-day moving average is at $4,089.44. Over the past year, Booking has seen a low of $3,079.50 and a high of $5,237.00. Currently, the company has a market capitalization of $172.17 billion, with a PE ratio of 35.30 and a PEG ratio of 1.62, indicating its market potential. Booking's beta is 1.38, suggesting a relatively higher volatility in response to market movements.

Dividend Declaration

Additionally, Booking Holdings has recently announced a quarterly dividend, set to be paid on Tuesday, December 31st. Shareholders on record as of Friday, December 6th, will receive a dividend of $8.75, translating to an annualized dividend of $35.00, yielding 0.67%. The ex-dividend date for this declaration is also set for Friday, December 6th. The current dividend payout ratio for the company is 23.75%, demonstrating a balanced approach towards returning capital to shareholders.

Company Overview

Booking Holdings Inc. is a well-known provider of online travel and restaurant reservation services. The company operates various online travel agencies (OTCs) that facilitate travel reservations for consumers worldwide. Through its brands like Booking.com, priceline.com, and agoda.com, the company offers a comprehensive range of accommodation options, including hotels, bed and breakfasts, hostels, apartments, vacation rentals, and more.

Conclusion

In summary, the significant decrease in short interest for Booking Holdings reflects changing market sentiments. The active involvement of institutional investors further underscores the company's relevance in the travel industry. Moving forward, analysts have varied outlooks on the stock, suggesting a blend of cautious optimism and bullish projections. With a stable dividend policy and ongoing investor interest, Booking Holdings continues to navigate the dynamic market landscape.

Booking, Short, Investors