Booking Holdings Inc. $BKNG Shares Sold by Cortland Associates Inc. MO

Key Points

• Cortland Associates Inc. reduced its holdings in Booking Holdings Inc. by 31% in the second quarter, now owning 10,199 shares valued at approximately $59 million.
• Several hedge funds adjusted their positions in Booking, with Kingswood Wealth Advisors increasing its holdings by 27.3% and Overbrook Management Corp by 49.5% during the second quarter.
• Booking Holdings reported a 16% year-over-year increase in revenue for the latest quarter, reaching $6.80 billion, while also announcing a quarterly dividend of $9.60 per share.

Cortland Associates Inc. MO reduced its holdings in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 31.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,199 shares of the business services provider's stock after selling 4,579 shares during the quarter. Booking comprises 6.9% of Cortland Associates Inc. MO's investment portfolio, making the stock its 3rd biggest holding. Cortland Associates Inc. MO's holdings in Booking were worth $59,043,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BKNG. Kingswood Wealth Advisors LLC raised its holdings in Booking by 27.3% during the first quarter. Kingswood Wealth Advisors LLC now owns 182 shares of the business services provider's stock worth $844,000 after purchasing an additional 39 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Booking during the first quarter worth $203,000. United Services Automobile Association acquired a new position in Booking during the first quarter worth $3,592,000. Overbrook Management Corp raised its holdings in Booking by 49.5% during the second quarter. Overbrook Management Corp now owns 3,314 shares of the business services provider's stock worth $19,186,000 after purchasing an additional 1,098 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in Booking by 9.4% during the first quarter. Perigon Wealth Management LLC now owns 278 shares of the business services provider's stock worth $1,281,000 after purchasing an additional 24 shares during the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Larry Quinlan sold 64 shares of Booking stock in a transaction on Monday, September 15th. The stock was sold at an average price of $5,511.80, for a total value of $352,755.20. Following the completion of the sale, the director owned 131 shares of the company's stock, valued at $722,045.80. The trade was a 32.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vanessa Ames Wittman sold 15 shares of Booking stock in a transaction on Monday, September 15th. The shares were sold at an average price of $5,500.00, for a total value of $82,500.00. Following the completion of the transaction, the director owned 747 shares in the company, valued at $4,108,500. The trade was a 1.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,195 shares of company stock valued at $23,467,630 over the last quarter. Company insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BKNG. Evercore ISI lifted their price objective on Booking from $5,500.00 to $6,250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and set a $6,000.00 price objective (up from $5,700.00) on shares of Booking in a report on Wednesday, July 30th. Citigroup lifted their price objective on Booking from $5,560.00 to $6,500.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Piper Sandler reaffirmed a "neutral" rating and set a $5,750.00 price objective (up from $5,077.00) on shares of Booking in a report on Wednesday, July 30th. Finally, Benchmark reissued a "buy" rating and set a $6,200.00 price target (up previously from $6,000.00) on shares of Booking in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5,808.81.

Booking Stock Down 3.3%

Shares of NASDAQ:BKNG opened at $5,242.00 on Wednesday. The company has a market cap of $169.89 billion, a P/E ratio of 36.46, a P/E/G ratio of 1.56 and a beta of 1.35. Booking Holdings Inc. has a 52 week low of $4,096.23 and a 52 week high of $5,839.41. The business has a fifty day simple moving average of $5,512.80 and a 200-day simple moving average of $5,312.53.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $55.40 EPS for the quarter, beating analysts' consensus estimates of $50.32 by $5.08. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.54 billion. Booking had a negative return on equity of 134.19% and a net margin of 19.23%.The business's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $41.90 earnings per share. Booking has set its Q3 2025 guidance at EPS. Sell-side analysts expect that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were given a $9.60 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.7%. Booking's payout ratio is currently 26.71%.

About Booking

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.

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