Booking Holdings Inc. $BKNG Stock: Apollon Wealth Management LLC Cuts Stake

Key Points

• Apollon Wealth Management reduced its Booking Holdings stake by 14.6% in the third quarter, selling 12,762 shares and retaining 74,652 shares valued at approximately $12.2 million.
• Institutional ownership remains high at 92.42%, while several major institutions—including BlackRock, State Street, Deutsche Bank and Bank of New York Mellon—either initiated or expanded positions.
• Analysts maintain a generally positive outlook, with Booking carrying a consensus “Moderate Buy” rating and an average price target of $233.71; the stock recently opened at $153.14, near its 12-month low.

Apollon Wealth Management LLC lessened its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 14.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,652 shares of the business services provider's stock after selling 12,762 shares during the quarter. Apollon Wealth Management LLC's holdings in Booking were worth $12,162,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in Booking during the second quarter worth about $11,646,302,000. State Street Corp raised its position in shares of Booking by 2,674.6% in the 2nd quarter. State Street Corp now owns 39,420,711 shares of the business services provider's stock valued at $7,026,348,000 after buying an additional 37,999,915 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Booking in the 2nd quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp acquired a new position in shares of Booking in the 2nd quarter valued at approximately $1,370,455,000. Finally, Ninety One UK Ltd raised its position in shares of Booking by 1.0% in the 3rd quarter. Ninety One UK Ltd now owns 6,489,929 shares of the business services provider's stock valued at $1,057,274,000 after buying an additional 64,584 shares in the last quarter. Institutional investors own 92.42% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on BKNG shares. BTIG Research reaffirmed a "buy" rating and set a $250.00 price target on shares of Booking in a report on Thursday, October 22nd. 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 report on Wednesday, August 5th. Robert W. Baird set a $230.00 target price on Booking in a research note on Wednesday, August 5th. Weiss Ratings raised Booking from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Finally, Wedbush boosted their price target on Booking from $211.00 to $247.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $233.71.

Insider Transactions at Booking

In related news, insider Paulo Pisano sold 1,500 shares of Booking stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $163.06, for a total transaction of $244,590.00. Following the transaction, the insider owned 70,400 shares of the company's stock, valued at $11,479,424. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 50,050 shares of Booking stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $207.59, for a total value of $10,389,879.50. Following the transaction, the vice president directly owned 375,025 shares in the company, valued at approximately $77,851,439.75. The trade was a 11.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 83,425 shares of company stock valued at $17,210,864. Corporate insiders own 0.17% of the company's stock.

Booking Trading Down 1.7%

NASDAQ BKNG opened at $153.14 on Tuesday. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $220.81. The company has a market cap of $115.07 billion, a P/E ratio of 16.95, a PEG ratio of 0.96 and a beta of 1.13. The company has a fifty day simple moving average of $177.22 and a 200 day simple moving average of $178.93.

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 the consensus estimate of $2.43 by $0.11. The business had revenue of $7.35 billion for the quarter, compared to analysts' expectations 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 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 EPS. Sell-side analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Booking's payout ratio is currently 18.58%.

Booking Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.

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