Booking Holdings Inc. $BKNG Shares Bought by HB Wealth Management LLC

Key Points

• HB Wealth Management increased its Booking Holdings stake by 2,147.5% in the second quarter, holding 33,780 shares worth approximately $6.02 million. Institutional investors collectively own 92.42% of BKNG.
• Booking reported quarterly earnings of $2.54 per share, beating estimates of $2.43, while revenue rose 8.1% year over year to $7.35 billion. The company also declared a quarterly dividend of $0.42 per share.
• Analysts maintain a generally positive view, with Booking receiving a “Moderate Buy” consensus rating and an average price target of $236.70. Meanwhile, insiders sold 81,550 shares worth about $16.9 million over the past 90 days.

HB Wealth Management LLC lifted its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,147.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,780 shares of the business services provider's stock after buying an additional 32,277 shares during the period. HB Wealth Management LLC's holdings in Booking were worth $6,021,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BKNG. BlackRock Inc. acquired a new position in Booking during the 2nd quarter worth approximately $11,646,302,000. Deutsche Bank AG acquired a new stake in Booking in the second quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp acquired a new stake in Booking in the second quarter valued at approximately $1,370,455,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Booking by 2,525.5% during the second 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 valued at $1,087,597,000 after purchasing an additional 5,869,459 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of Booking during the second quarter valued at approximately $992,026,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Insider Buying and Selling at Booking

In other news, Director Vanessa Wittman sold 1,125 shares of the 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 owned 16,508 shares of the company's stock, valued at approximately $3,169,536. This trade represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of Booking stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total value of $4,220,600.00. Following the completion of the transaction, the chief financial officer owned 59,794 shares of the company's stock, valued at $12,618,327.82. This trade represents a 25.06% 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. In the last ninety days, insiders have sold 81,550 shares of company stock valued at $16,922,744. Corporate insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BKNG shares. Argus upped their target price on shares of Booking from $210.00 to $245.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $230.00 price target on shares of Booking in a research note on Wednesday, August 5th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $188.00 price objective on shares of Booking in a report on Wednesday, August 26th. BTIG Research reissued a "buy" rating and issued a $250.00 price objective on shares of Booking in a research report on Thursday, August 27th. Finally, Mizuho set a $240.00 target price on Booking in a research note 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $236.70.

Booking Stock Performance

Shares of NASDAQ:BKNG opened at $193.29 on Tuesday. The company has a fifty day simple moving average of $194.53 and a 200 day simple moving average of $178.71. The firm has a market cap of $145.23 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.07. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $226.10.

Booking (NASDAQ:BKNG - Get Free Report) last posted 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. The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $55.40 EPS. As a group, equities research analysts forecast that Booking Holdings Inc. will post 10.48 EPS for the current fiscal 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 paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 11th. Booking's dividend payout ratio is 18.58%.

Booking 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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