AlpenGlobal Capital LLC Acquires New Holdings in Booking Holdings Inc. $BKNG

Key Points

• AlpenGlobal Capital initiated a 18,305-share Booking Holdings position valued at approximately $3.26 million, while 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 estimates; revenue increased 8.1% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $235.72 target price, while Booking announced a quarterly dividend of $0.42 per share.

AlpenGlobal Capital LLC bought a new position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,305 shares of the business services provider's stock, valued at approximately $3,263,000. Booking comprises approximately 2.1% of AlpenGlobal Capital LLC's investment portfolio, making the stock its 19th biggest position.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Booking in the 2nd quarter valued at $11,646,302,000. Deutsche Bank AG acquired a new position in Booking during the 2nd quarter worth $1,691,186,000. Bank of New York Mellon Corp acquired a new position in Booking during the 2nd quarter worth $1,370,455,000. J. Stern & Co. LLP boosted its holdings in Booking by 191,965.8% during the fourth quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider's stock valued at $15,171,489,000 after acquiring an additional 2,831,495 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Booking during the second quarter valued at about $472,723,000. Institutional investors own 92.42% of the company's stock.

Booking Trading Down 1.5%

Shares of NASDAQ BKNG opened at $209.87 on Friday. The firm has a market capitalization of $157.69 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.29 and a beta of 1.07. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $231.80. The business has a fifty day simple moving average of $187.71 and a 200 day simple moving average of $177.15.

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

Booking Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. Booking's payout ratio is presently 18.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. DA Davidson set a $240.00 price objective on Booking in a research note on Thursday, August 6th. Evercore set a $245.00 target price on Booking in a research note on Wednesday, April 29th. Weiss Ratings raised Booking from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 29th. Bank of America reaffirmed a "buy" rating and issued a $234.00 price target on shares of Booking in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. cut their price target on Booking from $224.00 to $208.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. One equities research analyst has 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $235.72.

Insider Buying and Selling at Booking

In other Booking news, CFO Ewout L. Steenbergen sold 20,000 shares of the firm'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 owned 59,794 shares in the company, valued at $12,618,327.82. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of Booking stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $206.70, for a total value of $206,700.00. Following the sale, the director directly owned 15,000 shares in the company, valued at $3,100,500. The trade was a 6.25% 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 three months, insiders sold 140,050 shares of company stock worth $26,341,680. Insiders own 0.17% of the company's stock.

About Booking

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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