Andra AP fonden Raises Stake in Booking Holdings Inc. $BKNG

Key Points

• Andra AP fonden increased its Booking Holdings stake by 1,398.7% in the second quarter, bringing its holdings to 106,590 shares valued at approximately $19 million. Institutional investors collectively own 92.42% of the company.
• Booking reported quarterly EPS of $2.54, beating estimates of $2.43, while revenue rose 8.1% year over year to $7.35 billion. The company also declared a quarterly dividend of $0.42 per share, equivalent to a 1.0% annualized yield.
• BKNG shares fell 3.8% to $162.19, while analysts maintained a generally positive outlook, giving the stock a consensus “Moderate Buy” rating and an average price target of $236.98. Insiders, however, sold 83,050 shares worth approximately $17.2 million over the past three months.

Andra AP fonden increased its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 1,398.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,590 shares of the business services provider's stock after purchasing an additional 99,478 shares during the quarter. Andra AP fonden's holdings in Booking were worth $18,999,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Osbon Capital Management LLC purchased a new position in shares of Booking in the 4th quarter valued at $27,000. Godfrey Financial Associates Inc. purchased a new stake in Booking during the 4th quarter worth $32,000. Bard Associates Inc. acquired a new stake in Booking in the 4th quarter valued at $32,000. Basepoint Wealth LLC acquired a new stake in Booking in the 4th quarter valued at $62,000. Finally, Jessup Wealth Management Inc purchased a new position in Booking in the fourth quarter valued at about $65,000. Hedge funds and other institutional investors own 92.42% of the company's stock.

Insiders Place Their Bets

In related news, VP Peter Millones, Jr. sold 50,050 shares of the business's 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 completion of the sale, the vice president owned 375,025 shares of the company's stock, valued at $77,851,439.75. This represents a 11.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mylod, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the sale, the director owned 16,000 shares in the company, valued at approximately $3,200,000. This trade represents a 23.81% 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 83,050 shares of company stock worth $17,182,274. Corporate insiders own 0.17% of the company's stock.

Booking Stock Down 3.8%

Shares of BKNG traded down $6.33 during mid-day trading on Tuesday, hitting $162.19. The stock had a trading volume of 6,208,238 shares, compared to its average volume of 8,189,824. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $225.00. The company has a market cap of $121.87 billion, a PE ratio of 17.96, a PEG ratio of 1.04 and a beta of 1.07. The company's fifty day simple moving average is $193.13 and its two-hundred day simple moving average is $179.25.

Booking (NASDAQ:BKNG - Get Free Report) last posted 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 negative return on equity of 102.96% and a net margin of 25.53%.The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period in the prior year, the company posted $55.40 EPS. The business's revenue was up 8.1% compared to the same quarter last year. Equities analysts expect that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, September 11th. Booking's dividend payout ratio (DPR) is presently 18.58%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Robert W. Baird set a $230.00 target price on Booking in a report on Wednesday, August 5th. Piper Sandler restated a "neutral" rating and issued a $215.00 price target (up from $195.00) on shares of Booking in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Booking in a research report on Wednesday, August 26th. Morgan Stanley set a $230.00 target price on shares of Booking and gave the stock an "overweight" rating in a research report on Wednesday, September 16th. Finally, Citigroup restated a "buy" rating and issued a $236.00 target price (up from $225.00) on shares of Booking in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Booking presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.98.

Booking Company Profile

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.

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