11,100 Booking Holdings Inc. $BKNG Shares Sold by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management cut its Booking Holdings stake by 12.1% in the third quarter, selling 11,100 shares and retaining 80,535 shares valued at about $13.12 million.
• Booking reported quarterly EPS of $4.66, above the $4.49 consensus, and revenue of $9.79 billion, also exceeding estimates; revenue was down 1.2% year over year.
• Analyst sentiment was mixed but averaged a Moderate Buy, with a $222.35 consensus price target; recent price-target cuts and competition concerns contrast with some Buy ratings and positive attention to Booking’s AI efforts.

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 12.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,535 shares of the business services provider's stock after selling 11,100 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Booking were worth $13,120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its stake in shares of Booking by 3,475.0% during the 2nd quarter. Bogart Wealth LLC now owns 143 shares of the business services provider's stock valued at $25,000 after buying an additional 139 shares in the last quarter. Wilkerson Advisory Group LLC grew its stake in Booking by 3,550.0% in the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider's stock valued at $26,000 after buying an additional 142 shares in the last quarter. First Financial Corp IN grew its stake in Booking by 2,400.0% in the 2nd quarter. First Financial Corp IN now owns 150 shares of the business services provider's stock valued at $27,000 after buying an additional 144 shares in the last quarter. Roble Belko & Company Inc grew its stake in Booking by 2,400.0% in the 2nd quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider's stock valued at $27,000 after buying an additional 144 shares in the last quarter. Finally, Kings Path Partners LLC bought a new stake in Booking during the 3rd quarter valued at $29,000. Institutional investors own 92.42% of the company's stock.

Booking Price Performance

NASDAQ BKNG opened at $160.66 on Friday. Booking Holdings Inc. has a 1 year low of $146.28 and a 1 year high of $220.81. The stock has a market capitalization of $119.48 billion, a PE ratio of 17.33, a P/E/G ratio of 1.01 and a beta of 1.17. The company's 50 day simple moving average is $166.49 and its two-hundred day simple moving average is $176.13.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, beating analysts' consensus estimates of $4.49 by $0.17. The firm had revenue of $9.79 billion during the quarter, compared to analyst estimates of $9.55 billion. Booking had a net margin of 25.52% and a negative return on equity of 89.54%. The business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $99.50 EPS. On average, research analysts anticipate that Booking Holdings Inc. will post 10.24 EPS for the current year.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking's business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Argus increased their target price on Booking from $210.00 to $245.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. BTIG Research reaffirmed a "buy" rating and issued a $250.00 price target on shares of Booking in a report on Wednesday. Cantor Fitzgerald reduced their price target on Booking from $170.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday. Robert W. Baird set a $230.00 price target on Booking in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $230.00 price objective on shares of Booking in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $222.35.

Insider Activity at Booking

In related news, VP Peter Millones, Jr. sold 50,050 shares of Booking stock in a transaction on Monday, August 17th. The stock was sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the completion of the sale, the vice president owned 375,025 shares of the company's stock, valued at approximately $77,851,439.75. This trade represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 1,500 shares of the business's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $163.06, for a total value of $244,590.00. Following the transaction, the insider owned 70,400 shares of the company's stock, valued at approximately $11,479,424. The trade was a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 77,425 shares of company stock valued at $16,004,164 in the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

About Booking

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.

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