Allworth Financial LP Takes $2.10 Million Position in Booking Holdings Inc. $BKNG

Key Points

• Allworth Financial LP acquired 11,783 Booking Holdings shares worth approximately $2.1 million during the second quarter. Institutional investors and hedge funds collectively own 92.42% of BKNG.
• Booking reported quarterly revenue of $7.35 billion, up 8.1% year over year, and earnings of $2.54 per share, exceeding analyst expectations of $2.43.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $235.72 versus the stock’s reported price of $209.62. Booking also declared a quarterly dividend of $0.42 per share.

Allworth Financial LP acquired a new stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,783 shares of the business services provider's stock, valued at approximately $2,100,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. AG acquired a new stake in Booking in the 2nd quarter valued at about $11,687,000. Shelter Ins Retirement Plan acquired a new stake in shares of Booking during the second quarter valued at $2,673,600,000. AlpenGlobal Capital LLC acquired a new stake in shares of Booking during the 2nd quarter worth about $3,263,000. Silvant Capital Management LLC purchased a new stake in shares of Booking during the second quarter worth about $6,264,000. Finally, Fairtree Asset Management Pty Ltd purchased a new stake in shares of Booking during the second quarter worth about $4,643,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Booking news, CFO Ewout L. Steenbergen sold 20,000 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were 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 of the company's stock, valued at $12,618,327.82. The trade was a 25.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 375 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $211.00, for a total transaction of $79,125.00. Following the completion of the transaction, the director owned 16,133 shares of the company's stock, valued at approximately $3,404,063. This trade represents a 2.27% 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. In the last quarter, insiders have sold 140,050 shares of company stock valued at $26,341,680. 0.17% of the stock is owned by company insiders.

Booking Price Performance

Shares of BKNG opened at $209.62 on Friday. The stock has a market capitalization of $157.50 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. The business's fifty day moving average price is $188.60 and its 200 day moving average price is $177.19. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $231.80.

Booking (NASDAQ:BKNG - Get Free Report) last released its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the firm earned $55.40 earnings per share. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts anticipate that Booking Holdings Inc. will post 10.47 earnings per share for the current fiscal year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued 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 18.58%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BKNG. BTIG Research reiterated a "buy" rating and issued a $250.00 price target on shares of Booking in a report on Wednesday, August 5th. Barclays set a $210.00 target price on shares of Booking and gave the company an "overweight" rating in a report on Wednesday, April 29th. Citigroup reaffirmed a "buy" rating and set a $236.00 price target (up from $225.00) on shares of Booking in a research report on Wednesday, August 5th. Robert W. Baird set a $230.00 price target on shares of Booking in a report on Wednesday, August 5th. Finally, Wedbush upped their price objective on Booking from $211.00 to $247.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Booking has a consensus rating of "Moderate Buy" and an average target price of $235.72.

Booking 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source