Booking Holdings Inc. $BKNG Stock: Great Lakes Retirement Inc. Raises Holdings

Key Points

• Great Lakes Retirement increased its Booking Holdings stake by 68.2% in the third quarter to 18,218 shares valued at approximately $3.0 million. Institutional investors collectively own 92.42% of BKNG.
• BKNG shares have fallen to roughly $150, near a new 52-week low, amid technical weakness and caution ahead of the company’s upcoming earnings report. Bank of America lowered its price target to $232, while analysts overall maintain a “Moderate Buy” consensus with an average target of $233.71.
• Booking’s latest quarterly results exceeded expectations, with revenue rising 8.1% year over year to $7.35 billion and EPS of $2.54 versus the $2.43 consensus. However, insiders sold 78,425 shares worth $16.2 million in the last quarter under pre-arranged trading plans.

Great Lakes Retirement Inc. boosted its position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 68.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,218 shares of the business services provider's stock after acquiring an additional 7,387 shares during the quarter. Great Lakes Retirement Inc.'s holdings in Booking were worth $2,968,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BKNG. Busey Bank acquired a new stake in Booking in the 3rd quarter valued at about $5,383,000. Generali Asset Management SPA SGR grew its holdings in Booking by 2.1% during the third quarter. Generali Asset Management SPA SGR now owns 73,650 shares of the business services provider's stock worth $11,998,000 after purchasing an additional 1,548 shares during the period. Asset Management One Co. Ltd. increased its position in Booking by 0.7% during the third quarter. Asset Management One Co. Ltd. now owns 355,596 shares of the business services provider's stock worth $57,930,000 after buying an additional 2,318 shares during the last quarter. Balance Wealth Partners LLC acquired a new position in Booking during the third quarter worth approximately $47,000. Finally, SYM FINANCIAL Corp increased its position in Booking by 34.4% during the third quarter. SYM FINANCIAL Corp now owns 4,637 shares of the business services provider's stock worth $755,000 after buying an additional 1,186 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

Booking News Roundup

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking has delivered stronger revenue momentum than Advance Auto Parts over the past eight quarters, although its results show significant seasonal fluctuations. Advance Auto Parts vs. Booking Holdings: Flat Against Volatile Revenue
• Positive Sentiment: Investors purchased approximately 48,851 BKNG call options, roughly 225% above typical call volume. The activity may indicate bullish positioning or expectations for a rebound, though options flows can be speculative. Booking Holdings has huge, unusual call options activity
• Neutral Sentiment: Booking is expected to report quarterly results next week. Investors will focus on bookings, travel demand, margins, and management’s outlook for the remainder of the year. Booking Expected to Release Quarterly Earnings
• Negative Sentiment: Analysts cited a lack of the usual factors supporting a likely earnings beat, increasing downside risk ahead of the report and likely contributing to investor caution. Booking Holdings Earnings Expected to Grow
• Negative Sentiment: BKNG recently reached a fresh 52-week low, signaling persistent technical weakness and reduced investor confidence ahead of earnings. Booking Holdings Falls to a Fresh 52-Week Low
• Negative Sentiment: Bank of America lowered its BKNG price target to $232, although the revised target remains substantially above recent trading levels. Booking Holdings Price Target Lowered

Insider Activity

In related news, VP Peter Millones, Jr. sold 50,050 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $207.59, for a total value of $10,389,879.50. Following the completion of the transaction, the vice president owned 375,025 shares of the company's stock, valued at $77,851,439.75. The trade was a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total value of $4,220,600.00. Following the completion of the transaction, the chief financial officer directly owned 59,794 shares of the company's stock, valued at approximately $12,618,327.82. This trade represents a 25.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 78,425 shares of company stock worth $16,210,864. 0.17% of the stock is owned by insiders.

Booking Trading Down 2.0%

Shares of BKNG stock opened at $150.14 on Wednesday. The stock has a market cap of $112.81 billion, a P/E ratio of 16.62 and a beta of 1.13. The stock has a 50 day simple moving average of $174.95 and a 200 day simple moving average of $178.28. Booking Holdings Inc. has a 1 year low of $149.87 and a 1 year high of $220.81.

Booking (NASDAQ:BKNG - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.11. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period in the prior year, the company earned $55.40 EPS. The company's quarterly revenue was up 8.1% compared to the same quarter last year. Analysts forecast that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Announces Dividend

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

Analyst Ratings Changes

BKNG has been the topic of several research analyst reports. UBS Group upped their price objective on Booking from $266.00 to $274.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. BMO Capital Markets reaffirmed an "outperform" rating and set a $250.00 target price (up from $240.00) on shares of Booking in a report on Wednesday, August 5th. The Goldman Sachs Group set a $215.00 price target on Booking and gave the company a "neutral" rating in a research note on Monday, July 20th. Morgan Stanley set a $230.00 target price on shares of Booking and gave the company an "overweight" rating in a research report on Wednesday, September 16th. Finally, Cantor Fitzgerald decreased their price target on shares of Booking from $220.00 to $170.00 and set a "neutral" rating on the stock in a research note on Monday, October 12th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $233.71.

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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