Booking Holdings Inc. $BKNG Shares Purchased by Baird Financial Group Inc.

Key Points

• Baird Financial Group increased its Booking Holdings stake by 2,747.3% in the second quarter, bringing its holdings to 188,152 shares valued at approximately $33.5 million. Institutional investors collectively own 92.42% of the company.
• Booking reported quarterly EPS of $2.54, exceeding estimates, while revenue rose 8.1% year over year to $7.35 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $236.70.
• The company declared a quarterly dividend of $0.42 per share, representing a 1.0% yield, while insiders have sold $16.9 million worth of shares over the past three months. Separately, an EU court ruling blocked Booking’s proposed ETraveli acquisition, limiting its strategic expansion plans.

Baird Financial Group Inc. boosted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,747.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,152 shares of the business services provider's stock after purchasing an additional 181,544 shares during the period. Baird Financial Group Inc.'s holdings in Booking were worth $33,536,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Bogart Wealth LLC increased its holdings in shares of Booking by 3,475.0% during the 2nd quarter. Bogart Wealth LLC now owns 143 shares of the business services provider's stock worth $25,000 after buying an additional 139 shares during the last quarter. Wilkerson Advisory Group LLC raised its position in shares of Booking by 3,550.0% in the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider's stock worth $26,000 after buying an additional 142 shares during the period. Osbon Capital Management LLC acquired a new position in Booking in the fourth quarter valued at $27,000. First Financial Corp IN boosted its holdings in Booking by 2,400.0% in the second quarter. First Financial Corp IN now owns 150 shares of the business services provider's stock valued at $27,000 after acquiring an additional 144 shares during the last quarter. Finally, Roble Belko & Company Inc grew its position in Booking by 2,400.0% during the second quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider's stock valued at $27,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 92.42% of the company's stock.

Insider Buying and Selling

In other news, insider Paulo Pisano sold 3,000 shares of Booking stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $203.48, for a total transaction of $610,440.00. Following the sale, the insider owned 73,400 shares in the company, valued at $14,935,432. This trade represents a 3.93% decrease in their ownership of the stock. The transaction 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, Director Robert Mylod, Jr. sold 1,000 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 14,000 shares in the company, valued at approximately $2,800,000. The trade was a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 81,550 shares of company stock valued at $16,922,744 over the last three months. Company insiders own 0.17% of the company's stock.

Booking Price Performance

Shares of BKNG opened at $174.33 on Friday. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $225.00. The stock's 50-day moving average is $194.18 and its two-hundred day moving average is $178.83. The stock has a market cap of $130.99 billion, a PE ratio of 19.29, a P/E/G ratio of 1.07 and a beta of 1.07.

Booking (NASDAQ:BKNG - Get Free Report) last posted its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.11. The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $55.40 earnings per share. On average, research analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share 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 of this dividend is Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 1.0%. Booking's dividend payout ratio (DPR) is 18.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Cantor Fitzgerald upped their price target on Booking from $175.00 to $220.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Wedbush lifted their price objective on Booking from $211.00 to $247.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Oppenheimer reiterated an "outperform" rating and set a $240.00 target price (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. Susquehanna reissued a "positive" rating and set a $240.00 target price on shares of Booking in a research report on Thursday, August 6th. Finally, B. Riley Financial restated a "buy" rating and issued a $274.00 price target (up from $264.00) on shares of Booking in a report on Wednesday, August 5th. Two equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.70.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Travel demand remains resilient despite geopolitical conflicts and a slowing macroeconomic environment, supporting the long-term outlook for Booking’s core lodging and travel businesses. Booking Holdings Stock: A Travel Stock to Buy Right Now?
• Neutral Sentiment: Booking presented at the Goldman Sachs Communacopia + Technology Conference and Citi’s Global TMT Conference. The available reports are conference transcripts and do not identify a major new catalyst for the stock. Goldman Sachs Conference Transcript Citi Conference Transcript
• Neutral Sentiment: A September short-interest update reported zero shares short, unchanged from the prior period, with a zero-day days-to-cover ratio. Because the figures show no measurable short position, the update provides little directional information.
• Negative Sentiment: The European General Court sided with EU regulators in rejecting Booking’s challenge to the veto of its ETraveli acquisition. The decision ends Booking’s effort to complete the deal and represents a setback to its strategic expansion plans. Judges Side With EU Regulators in Blocking Booking’s Acquisition of ETraveli

About Booking

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.

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