18,110 Shares in Booking Holdings Inc. $BKNG Bought by Benchmark Investment Advisors LLC

Key Points

• Benchmark Investment Advisors acquired 18,110 Booking Holdings shares worth approximately $3.23 million, while institutional investors collectively own 92.42% of BKNG.
• Booking reported quarterly EPS of $2.54 and revenue of $7.35 billion, exceeding analyst expectations; revenue increased 8.1% year over year.
• Booking declared a quarterly dividend of $0.42 per share, equivalent to an annualized $1.68 dividend and a 0.8% yield. Analysts maintain a consensus “Moderate Buy” rating with a $235.72 price target.

Benchmark Investment Advisors LLC acquired a new position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,110 shares of the business services provider's stock, valued at approximately $3,228,000. Booking accounts for approximately 1.4% of Benchmark Investment Advisors LLC's investment portfolio, making the stock its 25th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Kiltearn Partners LLP bought a new position in shares of Booking in the second quarter worth $3,503,000. Haverford Trust Co acquired a new position in shares of Booking during the second quarter valued at $646,000. Clear Harbor Asset Management LLC bought a new stake in shares of Booking during the second quarter valued at about $4,977,000. First Nebraska Trust Co bought a new stake in shares of Booking during the second quarter valued at about $223,000. Finally, Bank of Nova Scotia acquired a new stake in Booking in the second quarter worth about $121,936,000. Institutional investors own 92.42% of the company's stock.

Insider Buying and Selling

In other news, Director Robert J. Mylod, Jr. sold 5,000 shares of Booking stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total value of $1,000,000.00. Following the transaction, the director owned 16,000 shares of the company's stock, valued at $3,200,000. This trade represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total value of $4,220,600.00. Following the transaction, the chief financial officer directly owned 59,794 shares of the company's stock, valued at $12,618,327.82. This represents a 25.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 140,050 shares of company stock valued at $26,341,680 over the last 90 days. 0.17% of the stock is currently owned by insiders.

Booking Price Performance

Shares of BKNG opened at $209.62 on Friday. The company has a 50-day moving average of $188.60 and a two-hundred day moving average of $177.00. The stock has a market cap of $157.50 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.27 and a beta of 1.07. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $231.80.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the business earned $55.40 earnings per share. The firm's revenue was up 8.1% compared to the same quarter last year. Analysts anticipate that Booking Holdings Inc. will post 10.47 earnings per share for the current year.

Booking Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking's dividend payout ratio (DPR) is presently 18.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BKNG. Jefferies Financial Group upped their price target on shares of Booking from $180.00 to $190.00 and gave the stock a "hold" rating in a research note on Tuesday, July 14th. Argus upped 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. TD Cowen reiterated a "buy" rating and set a $230.00 price target (down from $240.00) on shares of Booking in a research report on Wednesday, April 29th. Piper Sandler reissued a "neutral" rating and issued a $215.00 price objective (up from $195.00) on shares of Booking in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada decreased their target price on Booking from $244.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.72.

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company's businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.

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