Apollon Wealth Management LLC Acquires 86,457 Shares of Booking Holdings Inc. $BKNG

Key Points

• Apollon Wealth Management increased its Booking Holdings stake by 86,457 shares, or 9,034.2%, to 87,414 shares valued at approximately $15.6 million. Institutional investors collectively own 92.42% of the company.
• Booking reported quarterly earnings of $2.54 per share, exceeding estimates of $2.43, while revenue rose 8.1% year over year to $7.35 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $235.72.
• Booking declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 0.8% yield. Company insiders sold 89,625 shares worth about $15.9 million over the prior 90 days, primarily under pre-arranged trading plans.

Apollon Wealth Management LLC raised its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 9,034.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 87,414 shares of the business services provider's stock after purchasing an additional 86,457 shares during the period. Apollon Wealth Management LLC's holdings in Booking were worth $15,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Life Cycle Investment Partners Ltd bought a new position in shares of Booking during the 4th quarter valued at approximately $361,463,000. Rit Capital Partners PLC purchased a new position in Booking during the 4th quarter valued at $51,396,000. Merit Financial Group LLC grew its holdings in shares of Booking by 1,663.9% in the second quarter. Merit Financial Group LLC now owns 28,698 shares of the business services provider's stock worth $5,115,000 after purchasing an additional 27,071 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Booking in the 4th quarter worth about $210,352,000. Finally, Cardano Risk Management B.V. lifted its holdings in Booking by 862.0% during the 4th quarter. Cardano Risk Management B.V. now owns 218,080 shares of the business services provider's stock valued at $1,167,890,000 after buying an additional 195,411 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company's stock.

Insider Activity at Booking

In related news, Director Vanessa Ames Wittman sold 1,125 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the transaction, the director directly owned 16,508 shares in the company, valued at approximately $3,169,536. The trade was a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the completion of the transaction, the vice president directly owned 425,075 shares in the company, valued at $69,572,025.25. This trade represents a 12.82% 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. Over the last 90 days, insiders sold 89,625 shares of company stock valued at $15,872,675. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. B. Riley Financial reissued a "buy" rating and issued a $274.00 price objective (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. Jefferies Financial Group lifted their target price on Booking from $180.00 to $190.00 and gave the company a "hold" rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $230.00 target price on shares of Booking in a report on Wednesday, August 5th. Cantor Fitzgerald raised their price target on Booking from $175.00 to $220.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Finally, Barclays set a $210.00 price target on Booking and gave the company an "overweight" rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Booking has a consensus rating of "Moderate Buy" and an average price target of $235.72.

Booking Stock Performance

Shares of NASDAQ BKNG opened at $212.06 on Friday. The company has a market capitalization of $159.34 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07. The company's fifty day moving average price is $184.00 and its 200 day moving average price is $177.04. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $231.80.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, beating analysts' consensus estimates of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion during the quarter, compared to analysts' expectations of $7.19 billion. During the same quarter in the previous year, the company earned $55.40 earnings per share. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts expect that Booking Holdings Inc. will post 10.47 EPS for the current year.

Booking Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. Booking's dividend payout ratio (DPR) is 18.58%.

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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