4,323,792 Shares in Booking Holdings Inc. $BKNG Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 4.32 million Booking Holdings shares during the second quarter, worth approximately $770.7 million and representing about 0.58% of the company. Institutional investors collectively own 92.42% of BKNG.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $236.70. Recent targets range from $220 to $250.
• Booking reported quarterly earnings of $2.54 per share and revenue of $7.35 billion, exceeding analyst expectations, while the stock recently traded at $171.32. The company also declared a quarterly dividend of $0.42 per share.

Bank of America Corp DE acquired a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,323,792 shares of the business services provider's stock, valued at approximately $770,673,000. Bank of America Corp DE owned about 0.58% of Booking as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Osbon Capital Management LLC bought a new stake in Booking in the fourth quarter worth $27,000. Godfrey Financial Associates Inc. bought a new stake in Booking during the 4th quarter valued at about $32,000. Bard Associates Inc. purchased a new position in shares of Booking during the fourth quarter worth approximately $32,000. Basepoint Wealth LLC bought a new stake in shares of Booking during the fourth quarter valued at approximately $62,000. Finally, Jessup Wealth Management Inc bought a new stake in shares of Booking during the fourth quarter valued at approximately $65,000. 92.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BKNG. Rosenblatt Securities began coverage on Booking in a report on Tuesday, September 1st. They issued a "buy" rating and a $245.00 target price for the company. Benchmark boosted their price objective on shares of Booking from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Mizuho set a $240.00 price target on shares of Booking in a research report on Wednesday, August 5th. Wells Fargo & Company set a $220.00 price target on shares of Booking and gave the stock an "equal weight" rating in a report on Wednesday, August 5th. Finally, Wedbush upped their price target on Booking from $211.00 to $247.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Booking has a consensus rating of "Moderate Buy" and an average price target of $236.70.

Booking Trading Down 2.3%

NASDAQ BKNG opened at $171.32 on Wednesday. The company has a fifty day simple moving average of $193.64 and a two-hundred day simple moving average of $179.02. The stock has a market cap of $128.73 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.09 and a beta of 1.07. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $225.00.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share 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 firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period in the previous year, the company earned $55.40 earnings per share. The business's quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, September 11th. Booking's payout ratio is presently 18.58%.

Insiders Place Their Bets

In other news, insider Paulo Pisano sold 3,000 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $203.48, for a total value of $610,440.00. Following the transaction, the insider directly owned 73,400 shares of the company's stock, valued at approximately $14,935,432. This represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, Director Vanessa Wittman sold 1,125 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the transaction, the director owned 16,508 shares of the company's stock, valued at approximately $3,169,536. The trade was a 6.38% 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. In the last ninety days, insiders sold 81,550 shares of company stock valued at $16,922,744. Insiders own 0.17% of the company's stock.

About Booking

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.

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