ABN Amro Investment Solutions Raises Position in Booking Holdings Inc. $BKNG

Key Points

• ABN Amro Investment Solutions increased its Booking Holdings position by 713.6% in the second quarter, bringing its holdings to 53,241 shares valued at approximately $9.49 million. Institutional investors collectively own 92.42% of the company.
• Booking reported quarterly revenue of $7.35 billion and earnings of $2.54 per share, exceeding analyst expectations; revenue rose 8.1% year over year.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $235.72, while insiders have sold roughly $15.9 million worth of shares over the past 90 days.

ABN Amro Investment Solutions lifted its position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 713.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,241 shares of the business services provider's stock after acquiring an additional 46,697 shares during the quarter. ABN Amro Investment Solutions' holdings in Booking were worth $9,490,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Camelot Portfolios LLC acquired a new position in Booking during the 4th quarter worth approximately $27,000. Osbon Capital Management LLC purchased a new stake in shares of Booking in the fourth quarter valued at approximately $27,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Booking in the fourth quarter valued at approximately $27,000. Strive Asset Management LLC acquired a new position in Booking during the third quarter worth $27,000. Finally, Swiss RE Ltd. acquired a new position in Booking during the fourth quarter worth $27,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Stock Down 0.6%

Shares of Booking stock opened at $212.06 on Friday. The business has a 50-day moving average price of $184.00 and a 200 day moving average price of $177.04. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $231.80. The firm has a market cap of $159.34 billion, a P/E ratio of 23.47, a P/E/G ratio of 1.29 and a beta of 1.07.

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

Booking Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking's payout ratio is presently 18.58%.

Analyst Ratings Changes

BKNG has been the subject of a number of research analyst reports. Benchmark increased their target price on shares of Booking from $220.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Truist Financial set a $242.00 price target on Booking in a research note on Wednesday, August 5th. TD Cowen restated a "buy" rating and set a $230.00 price objective (down from $240.00) on shares of Booking in a report on Wednesday, April 29th. Robert W. Baird set a $230.00 price objective on shares of Booking in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada cut their price objective on Booking from $244.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Booking has a consensus rating of "Moderate Buy" and an average price target of $235.72.

Insider Buying and Selling

In other news, CFO Ewout L. Steenbergen sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the completion of the transaction, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. The trade was a 25.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 5,000 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was 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 position. 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 89,625 shares of company stock valued at $15,872,675 in the last 90 days. Corporate insiders own 0.17% of the company's stock.

Booking Company Profile

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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