8,174 Booking Holdings Inc. $BKNG Shares Acquired by Formidable Asset Management LLC

Key Points

• Formidable Asset Management increased its Booking Holdings stake by 2,432.7% in the third quarter, purchasing 8,174 shares to hold 8,510 shares valued at about $1.52 million.
• Booking’s latest quarterly earnings beat analyst expectations, with EPS of $4.66 versus $4.49 and revenue of $9.79 billion versus $9.55 billion, though revenue was down 1.2% year over year.
• Shares were reported down 4.8% amid competitive concerns and analyst price-target cuts, although the consensus rating remained “Moderate Buy” with a $222.35 target.

Formidable Asset Management LLC increased its position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,432.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,510 shares of the business services provider's stock after buying an additional 8,174 shares during the period. Formidable Asset Management LLC's holdings in Booking were worth $1,517,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Mill Capital Management LLC boosted its stake in Booking by 1.1% in the 1st quarter. Mill Capital Management LLC now owns 5,721 shares of the business services provider's stock worth $24,087,000 after purchasing an additional 65 shares during the period. Van Diest Capital LLC boosted its position in shares of Booking by 30.1% during the first quarter. Van Diest Capital LLC now owns 281 shares of the business services provider's stock worth $1,185,000 after acquiring an additional 65 shares during the last quarter. Garrett Wealth Advisory Group LLC boosted its position in shares of Booking by 2.5% during the third quarter. Garrett Wealth Advisory Group LLC now owns 2,667 shares of the business services provider's stock worth $434,000 after acquiring an additional 65 shares during the last quarter. Adelphi Trust Co grew its stake in Booking by 0.7% during the third quarter. Adelphi Trust Co now owns 9,660 shares of the business services provider's stock valued at $1,574,000 after acquiring an additional 67 shares in the last quarter. Finally, Allen Capital Group LLC grew its stake in Booking by 11.0% during the first quarter. Allen Capital Group LLC now owns 697 shares of the business services provider's stock valued at $2,934,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 92.42% of the company's stock.

Booking News Summary

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 Stock Down 4.8%

BKNG opened at $160.66 on Friday. The business has a fifty day moving average of $166.49 and a 200 day moving average of $176.13. Booking Holdings Inc. has a 52-week low of $146.28 and a 52-week high of $220.81. The stock has a market cap of $119.48 billion, a P/E ratio of 17.33, a PEG ratio of 1.01 and a beta of 1.17.

Booking (NASDAQ:BKNG - Get Free Report) last released its 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. Booking had a negative return on equity of 89.54% and a net margin of 25.52%. The business had revenue of $9.79 billion for the quarter, compared to analyst estimates of $9.55 billion. During the same quarter last year, the firm posted $99.50 earnings per share. The business's revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Booking Holdings Inc. will post 10.24 EPS for the current fiscal year.

Insider Activity

In related news, insider Paulo Pisano sold 1,500 shares of Booking stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $163.06, for a total transaction of $244,590.00. Following the completion of the sale, the insider owned 70,400 shares in the company, valued at $11,479,424. This trade represents a 2.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 50,050 shares of Booking stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the sale, the vice president owned 375,025 shares of the company's stock, valued at $77,851,439.75. The trade was a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 77,425 shares of company stock valued at $16,004,164. Insiders own 0.17% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BKNG. BMO Capital Markets reiterated an "outperform" rating and issued a $245.00 price target on shares of Booking in a report on Wednesday. DA Davidson set a $240.00 price target on shares of Booking in a report on Thursday, August 6th. Mizuho set a $205.00 price target on Booking in a research report on Wednesday. TD Cowen raised shares of Booking to a "strong-buy" rating in a research note on Monday, September 14th. Finally, Barclays cut their price objective on shares of Booking from $210.00 to $170.00 and set an "overweight" rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $222.35.

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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