Booking Holdings Inc. $BKNG Position Boosted by HF Advisory Group LLC

Key Points

• HF Advisory Group sharply increased its Booking Holdings position by 2,807.2% in the second quarter to 22,909 shares valued at approximately $4.08 million. Institutional investors collectively own 92.42% of BKNG.
• Booking exceeded quarterly expectations, reporting $2.54 in earnings per share and $7.35 billion in revenue, up 8.1% year over year. Analysts expect full-year earnings of $10.43 per share.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus rating and an average price target of $234.69, although some analysts cite softer near-term guidance and rising marketing costs as risks. The company also declared a $0.42 quarterly dividend, yielding about 0.8%.

HF Advisory Group LLC lifted its holdings in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,807.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,909 shares of the business services provider's stock after purchasing an additional 22,121 shares during the period. Booking comprises 1.3% of HF Advisory Group LLC's holdings, making the stock its 20th biggest holding. HF Advisory Group LLC's holdings in Booking were worth $4,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BKNG. Legacy Bridge LLC bought a new stake in Booking during the fourth quarter worth approximately $27,000. Camelot Portfolios LLC acquired a new position in Booking in the fourth quarter worth approximately $27,000. Osbon Capital Management LLC bought a new position in shares of Booking in the fourth quarter valued at $27,000. Mcguire Capital Advisors Inc. bought a new position in shares of Booking in the fourth quarter valued at $27,000. Finally, Strive Asset Management LLC acquired a new stake in shares of Booking during the 3rd quarter valued at $27,000. 92.42% of the stock is currently owned by institutional investors.

Booking Price Performance

Shares of BKNG opened at $214.42 on Friday. The business's 50-day moving average is $179.43 and its 200-day moving average is $176.56. The company has a market capitalization of $161.11 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 1.31 and a beta of 1.07. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $231.80.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS 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 firm 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 posted $55.40 earnings per share. The firm's revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Booking Holdings Inc. will post 10.43 earnings per share for the current fiscal year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a $0.42 dividend. The ex-dividend date 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 18.58%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BKNG. Cantor Fitzgerald raised their price objective on Booking from $175.00 to $220.00 and gave the stock a "neutral" rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on Booking from $180.00 to $190.00 and gave the stock a "hold" rating in a research report on Tuesday, July 14th. Truist Financial set a $242.00 target price on Booking in a report on Wednesday. Susquehanna reiterated a "positive" rating and issued a $240.00 price target on shares of Booking in a research report on Thursday. Finally, Gordon Haskett lifted their price target on Booking from $217.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Booking 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

Insiders Place Their Bets

In other Booking news, Director Robert J. Mylod, Jr. sold 5,000 shares of the company's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $200.00, for a total value of $1,000,000.00. Following the transaction, the director directly owned 16,000 shares of the company's stock, valued at $3,200,000. This represents a 23.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 dated Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total value of $10,229,375.00. Following the sale, the vice president directly owned 425,075 shares of the company's stock, valued at $69,572,025.25. This trade represents a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 69,625 shares of company stock valued at $11,652,075 in the last three months. Insiders own 0.17% of the company's stock.

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.

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