Booking Holdings Inc. $BKNG Shares Purchased by MBM Wealth Consultants LLC

Key Points

• MBM Wealth Consultants increased its Booking Holdings stake by 2,860.8% in the second quarter, bringing its holdings to 12,554 shares valued at approximately $2.24 million. Institutional investors collectively own 92.42% of the company.
• Booking reported quarterly earnings of $2.54 per share, exceeding estimates of $2.43, while revenue rose 8.1% year over year to $7.35 billion. Shares recently traded at $212.06, above their 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $235.72. Booking also declared a quarterly dividend of $0.42 per share, representing a 0.8% annualized yield.

MBM Wealth Consultants LLC lifted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,860.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,554 shares of the business services provider's stock after acquiring an additional 12,130 shares during the quarter. Booking accounts for about 0.4% of MBM Wealth Consultants LLC's portfolio, making the stock its 23rd largest position. MBM Wealth Consultants LLC's holdings in Booking were worth $2,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilkerson Advisory Group LLC boosted its stake 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 valued at $26,000 after buying an additional 142 shares during the period. Strive Asset Management LLC purchased a new stake in shares of Booking during the third quarter worth approximately $27,000. Camelot Portfolios LLC purchased a new stake in shares of Booking during the fourth quarter worth approximately $27,000. Swiss RE Ltd. purchased a new stake in shares of Booking during the fourth quarter worth approximately $27,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Booking in the fourth quarter valued at approximately $27,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Price Performance

Shares of NASDAQ:BKNG opened at $212.06 on Friday. The company's fifty day moving average price is $184.00 and its 200 day moving average price is $176.84. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $231.80. The firm has a market capitalization of $159.34 billion, a P/E ratio of 23.47, a P/E/G ratio of 1.28 and a beta of 1.07.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share 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 during the quarter, compared to analysts' expectations of $7.19 billion. During the same period in the previous year, the company earned $55.40 earnings per share. Booking's quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Booking Holdings Inc. will post 10.47 EPS for the current year.

Booking Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking's payout ratio is presently 18.58%.

Wall Street Analysts Forecast Growth

BKNG has been the subject of several recent analyst reports. Citigroup reaffirmed a "buy" rating and set a $236.00 price objective (up from $225.00) on shares of Booking in a research report on Wednesday, August 5th. Argus raised their price target on Booking from $210.00 to $245.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Susquehanna reaffirmed a "positive" rating and set a $240.00 price target on shares of Booking in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $230.00 price objective on shares of Booking in a research report on Wednesday, August 5th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $250.00 price objective (up from $240.00) on shares of Booking in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.72.

Insider Transactions at Booking

In related news, Director Robert J. Mylod, Jr. sold 1,000 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total value of $206,700.00. Following the completion of the sale, the director directly owned 15,000 shares of the company's stock, valued at $3,100,500. This represents a 6.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 that occurred on 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 transaction, the vice president owned 425,075 shares in the company, valued at $69,572,025.25. This represents a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 89,625 shares of company stock valued at $15,872,675 in the last 90 days. Company insiders own 0.17% of the company's stock.

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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