7,500 Shares of Booking Holdings Inc. $BKNG Bought by Twin Peaks Capital Ltd

Key Points

• Twin Peaks Capital bought 7,500 Booking Holdings shares in the third quarter, valued at approximately $1.22 million; the stock represents about 0.7% of its portfolio.
• Booking beat quarterly earnings and revenue estimates, reporting $4.66 per share and $9.79 billion in revenue, though revenue fell 1.2% year over year.
• Analysts’ average rating is “Moderate Buy,” with a consensus price target of $222.35; shares recently traded at $160.66.

Twin Peaks Capital Ltd bought a new stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,500 shares of the business services provider's stock, valued at approximately $1,222,000. Booking makes up about 0.7% of Twin Peaks Capital Ltd's investment portfolio, making the stock its 13th largest position.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Booking in the second quarter valued at approximately $11,646,302,000. State Street Corp boosted its position in Booking by 2,674.6% during the second quarter. State Street Corp now owns 39,420,711 shares of the business services provider's stock worth $7,026,348,000 after acquiring an additional 37,999,915 shares during the last quarter. Deutsche Bank AG acquired a new stake in Booking during the second quarter worth approximately $1,691,186,000. Bank of New York Mellon Corp purchased a new stake in Booking in the 2nd quarter worth approximately $1,370,455,000. Finally, Ninety One UK Ltd grew its stake in Booking by 1.0% in the 3rd quarter. Ninety One UK Ltd now owns 6,489,929 shares of the business services provider's stock worth $1,057,274,000 after acquiring an additional 64,584 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

Booking Price Performance

BKNG stock traded down $8.06 on Friday, hitting $160.66. 7,907,758 shares of the company were exchanged, compared to its average volume of 6,818,136. Booking Holdings Inc. has a twelve month low of $146.28 and a twelve month high of $220.81. The business's fifty day moving average is $166.49 and its two-hundred day moving average is $176.13. The stock has a market capitalization of $120.72 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share for the quarter, topping analysts' consensus estimates of $4.49 by $0.17. The company had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.55 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. Booking's revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $99.50 earnings per share. Equities research analysts expect that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Ewout L. Steenbergen sold 20,000 shares of Booking stock in a transaction on 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 owned 59,794 shares in the company, valued at approximately $12,618,327.82. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mylod, Jr. sold 1,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director directly owned 14,000 shares of the company's stock, valued at approximately $2,800,000. This trade represents a 6.67% 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. In the last ninety days, insiders sold 77,425 shares of company stock worth $16,004,164. Corporate insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BKNG shares. The Goldman Sachs Group reissued a "neutral" rating and set a $175.00 price target on shares of Booking in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on Booking from $248.00 to $205.00 and set an "overweight" rating for the company in a research report on Wednesday. Susquehanna reiterated a "positive" rating and issued a $200.00 target price (down from $240.00) on shares of Booking in a research note on Wednesday. Melius Research set a $225.00 target price on Booking in a research note on Tuesday, October 20th. Finally, Benchmark increased their target price on Booking from $220.00 to $250.00 and gave the stock a "buy" 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 seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $222.35.

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

Booking Company Profile

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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