Booking Holdings Inc. $BKNG Shares Acquired by Meriwether Wealth & Planning LLC

Key Points

• Meriwether Wealth & Planning LLC increased its Booking Holdings stake by 2,570.3% in the second quarter, bringing its holdings to 9,453 shares worth approximately $1.69 million. Institutional investors collectively own 92.42% of Booking’s stock.
• Booking reported quarterly earnings of $2.54 per share and revenue of $7.35 billion, exceeding analyst estimates, with revenue up 8.1% year over year. Analysts maintain a generally bullish outlook, giving the stock a “Moderate Buy” consensus rating and an average price target of $234.69.
• The company declared a quarterly dividend of $0.42 per share, equivalent to a $1.68 annualized payout and a 0.8% yield. However, slowing room-night growth, rising marketing costs, soft near-term guidance and competition remain potential risks.

Meriwether Wealth & Planning LLC lifted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,570.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,453 shares of the business services provider's stock after acquiring an additional 9,099 shares during the period. Booking accounts for approximately 0.8% of Meriwether Wealth & Planning LLC's portfolio, making the stock its 23rd biggest position. Meriwether Wealth & Planning LLC's holdings in Booking were worth $1,685,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Daytona Street Capital LLC acquired a new stake in Booking during the fourth quarter worth about $27,000. Legacy Bridge LLC purchased a new position in Booking during the fourth quarter worth about $27,000. Camelot Portfolios LLC acquired a new position in Booking in the 4th quarter valued at about $27,000. Osbon Capital Management LLC acquired a new position in Booking in the 4th quarter valued at about $27,000. Finally, First Financial Corp IN boosted its holdings in Booking by 2,400.0% in the 2nd quarter. First Financial Corp IN now owns 150 shares of the business services provider's stock valued at $27,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Wall Street Analysts Forecast Growth

BKNG has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Booking from $266.00 to $274.00 and gave the stock a "buy" rating in a report on Wednesday. Jefferies Financial Group upped their price objective on Booking from $180.00 to $190.00 and gave the company a "hold" rating in a report on Tuesday, July 14th. TD Cowen reiterated a "buy" rating and issued a $230.00 price objective (down from $240.00) on shares of Booking in a research report on Wednesday, April 29th. Oppenheimer reissued an "outperform" rating and set a $240.00 target price (up from $215.00) on shares of Booking in a research note on Wednesday. Finally, Bank of America reissued a "buy" rating and set a $234.00 target price on shares of Booking in a research note on Wednesday. One investment 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $234.69.

Booking Price Performance

Shares of BKNG opened at $207.39 on Friday. The firm has a 50-day simple moving average of $178.49 and a two-hundred day simple moving average of $176.73. The stock has a market cap of $155.83 billion, a PE ratio of 22.95, a P/E/G ratio of 1.32 and a beta of 1.07. 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 issued its quarterly earnings data 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. The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $55.40 EPS. As a group, sell-side analysts expect that Booking Holdings Inc. will post 10.28 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 given a $0.42 dividend. The ex-dividend date of this dividend 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 presently 18.58%.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Q2 earnings and revenue beat expectations: Booking reported adjusted earnings of $2.54 per share versus the $2.43 consensus, while revenue rose 8.1% year over year to $7.35 billion, exceeding estimates of $7.19 billion. Growth in room nights, gross bookings and EBITDA pointed to continued travel demand. Booking Holdings Q2 results top estimates as travel demand remains resilient
• Positive Sentiment: Analysts raised targets and maintained bullish ratings: UBS lifted its target to $274 and kept a Buy rating, while Wedbush raised its target to $247 with an Outperform rating. Benchmark increased its target to $250, and BTIG reaffirmed its Buy rating with a $250 target. Booking Given New Price Target at UBS Group
• Positive Sentiment: Operational initiatives remain supportive: Management highlighted early benefits from artificial-intelligence personalization, higher savings and growth in its connected-trip offerings, which could support efficiency and longer-term expansion. BKNG Q2 Earnings Call Centers on Resilience, AI and Savings
• Neutral Sentiment: Dividend declared: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The modest 0.8% yield is supportive of shareholder returns but unlikely to materially affect valuation.
• Neutral Sentiment: Director stock sale: Director Robert J. Mylod Jr. sold 1,000 shares worth $206,700 under a pre-arranged Rule 10b5-1 plan. Because the sale was scheduled in advance and leaves him with 15,000 shares, it is not necessarily a bearish signal. SEC Form 4 filing
• Negative Sentiment: Near-term concerns temper the optimism: Third-quarter revenue guidance was viewed as soft, room-night growth is slowing, and marketing expenses are rising faster than revenue. Geopolitical volatility and competition from Google also remain risks, while some commentary warned that the recent rally has left the stock technically overbought. Why Analysts Are Bullish on a Stock That's Down 20%

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 on 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 directly owned 16,000 shares in the company, valued at $3,200,000. This represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, Director Vanessa Ames Wittman sold 1,125 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was 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 of the company's stock, valued at approximately $3,169,536. This represents a 6.38% 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 69,625 shares of company stock worth $11,652,075 over the last ninety days. Corporate insiders own 0.17% of the company's stock.

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.

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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