Booking Holdings Inc. $BKNG Shares Purchased by Angeles Wealth Management LLC

Key Points

• Institutional interest increased significantly: Angeles Wealth Management raised its Booking Holdings position by 2,401.2% to 6,453 shares valued at approximately $1.15 million. Institutional investors and hedge funds collectively own 92.42% of the company.
• Analysts remain broadly bullish: Booking has a consensus “Moderate Buy” rating and an average price target of $236.70, with several firms recently raising targets to as high as $274.
• Quarterly performance exceeded expectations: Booking reported adjusted earnings of $2.54 per share and revenue of $7.35 billion, surpassing estimates, while revenue increased 8.1% year over year. The company also declared a quarterly dividend of $0.42 per share.

Angeles Wealth Management LLC increased its position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,401.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,453 shares of the business services provider's stock after purchasing an additional 6,195 shares during the quarter. Angeles Wealth Management LLC's holdings in Booking were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. AG bought a new position in shares of Booking during the second quarter valued at approximately $11,687,000. MBM Wealth Consultants LLC lifted its holdings in shares of Booking by 2,860.8% in the 2nd quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider's stock worth $2,238,000 after purchasing an additional 12,130 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new position in Booking during the 4th quarter valued at approximately $361,463,000. Merit Financial Group LLC boosted its position in Booking by 1,663.9% during the 2nd quarter. Merit Financial Group LLC now owns 28,698 shares of the business services provider's stock valued at $5,115,000 after purchasing an additional 27,071 shares during the period. Finally, Rit Capital Partners PLC bought a new position in Booking during the 4th quarter worth $51,396,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BKNG. B. Riley Financial reiterated a "buy" rating and issued a $274.00 target price (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. UBS Group upped their price target on shares of Booking from $266.00 to $274.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $215.00 price objective on shares of Booking and gave the stock a "neutral" rating in a report on Monday, July 20th. Benchmark boosted their target price on shares of Booking from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, BTIG Research restated a "buy" rating and issued a $250.00 target price on shares of Booking in a research report on Thursday, August 27th. Two research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $236.70.

Booking Price Performance

BKNG opened at $193.29 on Monday. The business has a 50 day moving average price of $194.31 and a two-hundred day moving average price of $178.60. The company has a market capitalization of $145.23 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.07. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $226.10.

Booking (NASDAQ:BKNG - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.11. The company had revenue of $7.35 billion for the quarter, compared to analysts' expectations of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $55.40 EPS. Equities analysts expect that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Booking Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.9%. Booking's payout ratio is 18.58%.

Insider Transactions at Booking

In other news, VP Peter Millones, Jr. sold 50,050 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the completion of the transaction, the vice president owned 375,025 shares in the company, valued at approximately $77,851,439.75. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of Booking stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $203.48, for a total transaction of $610,440.00. Following the completion of the transaction, the insider directly owned 73,400 shares in the company, valued at $14,935,432. This represents a 3.93% 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. Insiders sold 81,550 shares of company stock valued at $16,922,744 in the last quarter. 0.17% of the stock is owned by company insiders.

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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