B. Metzler seel. Sohn & Co. AG raised its position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 1,894.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,568 shares of the business services provider's stock after purchasing an additional 62,281 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Booking were worth $11,687,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Booking in the second quarter valued at approximately $11,646,302,000. Deutsche Bank AG bought a new stake in Booking during the second quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp purchased a new position in Booking in the 2nd quarter worth approximately $1,370,455,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Booking by 2,525.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider's stock worth $1,087,597,000 after buying an additional 5,869,459 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Booking in the 2nd quarter worth $992,026,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Booking
In other Booking news, insider Paulo Pisano sold 3,000 shares of the firm's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $203.48, for a total value of $610,440.00. Following the sale, the insider owned 73,400 shares of the company's stock, valued at $14,935,432. This trade represents a 3.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 owned 59,794 shares in the company, valued at $12,618,327.82. The trade was a 25.06% 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 three months, insiders have sold 81,550 shares of company stock valued at $16,922,744. 0.17% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several analysts have recently weighed in on BKNG shares. Evercore restated an "outperform" rating and set a $270.00 price objective on shares of Booking in a research report on Monday, August 24th. Bank of America reiterated a "buy" rating and issued a $234.00 target price on shares of Booking in a research report on Wednesday, August 5th. Citigroup reissued 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. BMO Capital Markets restated an "outperform" rating and set a $250.00 price target (up from $240.00) on shares of Booking in a research report on Wednesday, August 5th. Finally, Benchmark boosted their target price on Booking from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $236.70.
View Our Latest Research Report on BKNG
Booking Trading Up 2.0%
NASDAQ BKNG opened at $199.60 on Thursday. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $226.10. The stock has a 50-day moving average of $193.71 and a 200-day moving average of $178.12. The firm has a market cap of $149.98 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07.
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, topping the consensus estimate of $2.43 by $0.11. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.Booking's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $55.40 EPS. As a group, equities research analysts forecast that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.
Booking Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued 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 currently 18.58%.
Key Stories Impacting Booking
Here are the key news stories impacting Booking this week:
- Positive Sentiment: Rosenblatt initiated coverage with a Buy/Strong Buy rating and a $245 price target, implying roughly 23% upside from the referenced share price. The firm considers Booking one of the best-positioned online travel agencies despite industry challenges. Rosenblatt sees Booking as the best-positioned online travel agency
- Positive Sentiment: Recent operating results support the bullish analyst view. Booking’s latest reported quarter exceeded consensus estimates for both earnings and revenue, with revenue increasing 8.1% year over year. The company also recently declared a quarterly dividend of $0.42 per share.
- Positive Sentiment: Momentum-focused coverage was favorable. Zacks identified Booking as a strong momentum stock, noting its recent performance relative to the broader market. This may encourage continued interest from momentum-oriented investors. Why Booking is a strong momentum stock
- Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The commentary could provide insight into travel demand, but the available report does not indicate whether the trends were specifically positive or negative for Booking. Priceline CEO discusses travel trends
- Negative Sentiment: Insiders reported stock sales. Director Robert J. Mylod Jr. sold 1,000 shares for approximately $200,000, while insider Paulo Pisano sold 3,000 shares for about $610,440. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as signals of deteriorating business prospects. Booking insider stock sales
Booking Profile
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Free Report)
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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