CTC 13F: New $20M Stake in Booking (BKNG)

CTC has established a fresh stake in Booking Holdings Inc. (NASDAQ: BKNG), according to its latest Form 13F filing with the Securities and Exchange Commission. The firm purchased 110,200 shares of the travel services provider during the reporting period. This newly created position was valued at approximately $19.6 million at the time of the filing on May 21, 2026.

CTC Joins Booking Holdings Shareholders

This move by CTC represents a brand-new entry into the Norwalk-based company. Before this filing, the firm held no shares of Booking Holdings. By acquiring 110,200 shares, CTC has positioned itself alongside other major institutional investors who have been active in the stock recently. Because this is a new position, there is no prior percentage change to report. It's important to remember that 13F filings are backward-looking and show what a fund held at the end of a specific quarter, so CTC's current position could be different today.

Booking Holdings Stock Performance

On Friday, shares of Booking Holdings were trading at $178.24. The stock has seen a wide range of movement over the past year, hitting a low of $150.14 and a high of $224.99. Currently, the stock is trading slightly below its 50-day moving average of $192.78 and its 200-day moving average of $184.78. With a price-to-earnings (P/E) ratio of 18.7 and a forward P/E of 13.6, the company is valued at roughly 18 times its trailing earnings, which is a common way for investors to measure if a stock is priced fairly compared to its profits.

Institutional Activity and Prior Coverage

This purchase by CTC follows a series of notable moves by other investment firms. Earlier this spring, Voya Investment Management raised its stake by over 551%, and Bank of Montreal added more than 700,000 shares to its portfolio. Meanwhile, Marshall Wace grew its position by 23.3% to reach 348,725 shares. Not everyone is buying, however; Foster Group recently exited the stock entirely, selling off its 1,219 shares. This mix of buying and selling shows that while some firms are taking profits or moving on, others like CTC see a fresh opportunity in the travel sector.

Recent Earnings and Dividend Growth

Booking Holdings recently reported annual revenue of $28.24 billion, which reflects a growth rate of 8.1%. The company remains highly profitable, boasting a net margin of 25.5% and a return on equity of 9.0%. Investors are also seeing a direct return through dividends. The company pays an annual dividend of $1.68 per share, which currently results in a 1.0% yield. With a payout ratio of about 17.8%, the company uses only a small portion of its earnings to cover the dividend, leaving plenty of room for reinvestment. The next earnings report is expected on October 27, 2026.

Analysts Set New Price Targets

Several research firms have updated their outlook on the stock recently. On October 12, 2026, Cantor Fitzgerald maintained a Neutral rating but lowered its price target from $220.00 to $170.00. Wells Fargo also kept an Equal-Weight rating on October 7, setting a $190.00 target. More optimistic views came from BTIG, which reiterated a Buy rating with a $250.00 target on September 24, and Rosenblatt, which started coverage with a Buy rating and a $245.00 target on September 1. Overall, 37 analysts give the stock a consensus Buy rating with an average price target of $238.78.

About Booking Holdings Inc.

Booking Holdings is the powerhouse behind some of the most well-known names in travel. The company owns and operates Booking.com, Priceline, Agoda, KAYAK, and OpenTable. It helps millions of people book flights, hotel rooms, rental cars, and restaurant tables across the globe. As travel demand continues to shift, the company's ability to generate significant revenue from both reservations and advertising makes it a central player in the consumer cyclical sector.

What's Ahead for Booking Holdings Inc.

Investors should keep an eye on the upcoming earnings report in late October to see if the company can maintain its revenue growth and high margins. While CTC's new stake is a positive signal, 13F filings only provide a snapshot of the past. Future filings will reveal whether CTC and other institutional giants continue to build their positions or if the recent volatility in the stock price leads to a change in strategy.