Booking Holdings Inc. $BKNG Stock Bought by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its Booking Holdings position by 238% in the third quarter to 10,274 shares valued at approximately $1.67 million. Institutional investors collectively own 92.42% of the company.
• Booking exceeded quarterly expectations, reporting $2.54 in adjusted earnings per share and $7.35 billion in revenue, with revenue up 8.1% year over year. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $233.71.
• Company insiders sold 84,550 shares worth $17.4 million over the past 90 days, while Booking shares recently traded near $161.10—well below their 12-month high of $220.81. An EU investigation into fraudulent listings and phishing risks is also weighing on investor sentiment.

Carnegie Investment Counsel boosted its position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 238.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,274 shares of the business services provider's stock after acquiring an additional 7,234 shares during the period. Carnegie Investment Counsel's holdings in Booking were worth $1,674,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Booking in the second quarter valued at $11,646,302,000. State Street Corp boosted its stake in 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 worth $7,026,348,000 after buying an additional 37,999,915 shares during the last quarter. Deutsche Bank AG acquired a new stake in Booking in the 2nd quarter worth about $1,691,186,000. Bank of New York Mellon Corp acquired a new stake in Booking in the 2nd quarter worth about $1,370,455,000. Finally, Ninety One UK Ltd grew its holdings in 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 during the period. Hedge funds and other institutional investors own 92.42% of the company's stock.

Insider Activity at Booking

In other news, CFO Ewout L. Steenbergen sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the completion of the transaction, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. This represents a 25.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 14,000 shares of the company's stock, valued at $2,800,000. The trade was a 6.67% 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 84,550 shares of company stock worth $17,426,864 over the last ninety days. Company insiders own 0.17% of the company's stock.

Booking Trading Up 1.7%

Shares of BKNG stock opened at $161.10 on Friday. The company has a market capitalization of $121.05 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The firm has a fifty day simple moving average of $177.97 and a 200-day simple moving average of $177.38. Booking Holdings Inc. has a twelve month low of $150.14 and a twelve month high of $220.81.

Booking (NASDAQ:BKNG - Get Free Report) last released 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 business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period last year, the business earned $55.40 EPS. The business's revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were paid a $0.42 dividend. The ex-dividend date was Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 1.0%. Booking's payout ratio is 18.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BKNG shares. Wedbush increased their price objective on shares of Booking from $211.00 to $247.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. DA Davidson set a $240.00 target price on shares of Booking in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $230.00 target price on shares of Booking in a report on Wednesday, August 5th. B. Riley Financial reaffirmed a "buy" rating and set a $274.00 price target (up from $264.00) on shares of Booking in a research report on Wednesday, August 5th. Finally, Melius Research set a $225.00 price target on shares of Booking in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $233.71.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: BTIG Research reaffirmed its Buy rating and set a $250 price target, implying substantial upside from recent trading levels. The call provides bullish analyst support despite the latest weakness. BTIG Research Booking rating
• Positive Sentiment: Booking remains a major global online-travel platform with significant scale and a diversified brand portfolio, supporting its ability to capture travel demand. The comparison with Airbnb highlights Booking’s established competitive position, although it also underscores ongoing competition in the sector. Airbnb versus Booking comparison
• Neutral Sentiment: Recent market coverage attributed Booking’s decline to company-specific concerns rather than broad market weakness, indicating that investors are focusing on the regulatory news and its potential implications. Booking Holdings stock decline analysis
• Negative Sentiment: The European Union opened an investigation into Booking.com over alleged shortcomings in addressing fraudulent listings and phishing scams. Regulators are also examining advertising transparency. The probe could increase compliance costs, create reputational risk, and potentially lead to enforcement measures, weighing on investor sentiment. Reuters report on EU investigation
• Negative Sentiment: Shares declined while the broader market gained, reinforcing that the EU fraud-risk investigation is the primary near-term catalyst behind BKNG’s weakness. EU investigates Booking.com over fraud risks

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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