Beacon Investment Advisory Services Inc. Purchases 108,182 Shares of Booking Holdings Inc. $BKNG

Key Points

• Beacon Investment Advisory Services increased its Booking Holdings position by 2,284.7% in the second quarter, purchasing 108,182 additional shares. Its holdings totaled 112,917 shares valued at approximately $20.1 million.
• Other institutional investors also sharply increased their positions, with hedge funds and institutions collectively owning 92.42% of Booking’s stock.
• Booking exceeded quarterly expectations, reporting $2.54 in earnings per share and $7.35 billion in revenue, up 8.1% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $234.69.

Beacon Investment Advisory Services Inc. raised its position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,284.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,917 shares of the business services provider's stock after purchasing an additional 108,182 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Booking were worth $20,126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKNG. Quantum Financial Advisors LLC increased its position in shares of Booking by 2,402.0% during the 2nd quarter. Quantum Financial Advisors LLC now owns 1,251 shares of the business services provider's stock valued at $223,000 after purchasing an additional 1,201 shares during the last quarter. Chesley Taft & Associates LLC raised its holdings in shares of Booking by 2,394.5% during the 2nd quarter. Chesley Taft & Associates LLC now owns 11,300 shares of the business services provider's stock valued at $2,014,000 after buying an additional 10,847 shares in the last quarter. Trust Point Inc. lifted its position in Booking by 2,418.4% in the 2nd quarter. Trust Point Inc. now owns 8,764 shares of the business services provider's stock worth $1,562,000 after buying an additional 8,416 shares during the last quarter. Professional Advisory Services Inc. boosted its stake in Booking by 2,412.4% in the second quarter. Professional Advisory Services Inc. now owns 143,331 shares of the business services provider's stock worth $25,547,000 after buying an additional 137,626 shares in the last quarter. Finally, Wynn Capital LLC boosted its stake in Booking by 2,454.5% in the second quarter. Wynn Capital LLC now owns 4,266 shares of the business services provider's stock worth $760,000 after buying an additional 4,099 shares in the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Stock Performance

NASDAQ:BKNG opened at $214.42 on Friday. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $231.80. The firm has a market cap of $161.11 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. The business has a 50 day moving average price of $179.43 and a 200-day moving average price of $176.77.

Booking (NASDAQ:BKNG - Get Free Report) last issued its earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping 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 company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the firm earned $55.40 earnings per share. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts predict that Booking Holdings Inc. will post 10.33 EPS for the current year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.8%. Booking's payout ratio is presently 18.58%.

Insider Activity

In related news, Director Robert J. Mylod, Jr. sold 5,000 shares of the business's 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 transaction, the director owned 16,000 shares in the company, valued at $3,200,000. The trade was a 23.81% decrease in their position. 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 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 value of $216,000.00. Following the transaction, the director owned 16,508 shares in the company, valued at approximately $3,169,536. This represents a 6.38% 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. Over the last ninety days, insiders sold 69,625 shares of company stock valued at $11,652,075. Insiders own 0.17% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. B. Riley Financial reissued a "buy" rating and set a $274.00 price target (up from $264.00) on shares of Booking in a research note on Wednesday. Wells Fargo & Company set a $220.00 target price on shares of Booking and gave the company an "equal weight" rating in a report on Wednesday. Evercore set a $245.00 target price on shares of Booking in a research report on Wednesday, April 29th. The Goldman Sachs Group set a $215.00 price target on shares of Booking and gave the stock a "neutral" rating in a research note on Monday, July 20th. Finally, Mizuho set a $240.00 price target on shares of Booking in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $234.69.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

Booking Company 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.

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