Booking Holdings Inc. $BKNG Stock: Hosking Partners LLP Lowers Holdings

Key Points

• Hosking Partners reduced its Booking Holdings stake by 5.8% in the third quarter, selling 21,742 shares and retaining 352,053 shares valued at approximately $57.4 million. Institutional investors own 92.42% of the company.
• Analyst sentiment remains broadly positive, with Booking holding a consensus rating of “Moderate Buy” and an average price target of $233.71, despite Wells Fargo downgrading the stock to “reduce.”
• Booking reported quarterly revenue of $7.35 billion and EPS of $2.54, both ahead of analyst expectations, while revenue increased 8.1% year over year. The stock opened at $158.38, near its 12-month low, and the company maintains a $0.42 quarterly dividend.

Hosking Partners LLP decreased its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 352,053 shares of the business services provider's stock after selling 21,742 shares during the period. Booking makes up about 2.0% of Hosking Partners LLP's portfolio, making the stock its 13th largest position. Hosking Partners LLP's holdings in Booking were worth $57,353,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cardinal Point Capital Management ULC acquired a new stake in shares of Booking in the 1st quarter worth about $295,000. Kapitalo Investimentos Ltda bought a new stake in Booking during the first quarter worth $345,000. Alesco Advisors LLC An ESL Co bought a new stake in Booking during the first quarter worth $400,000. Brian Low Financial Group LLC bought a new stake in Booking during the first quarter worth $442,000. Finally, Ascentis Independent Advisors raised its position in Booking by 163.6% in the 1st quarter. Ascentis Independent Advisors now owns 116 shares of the business services provider's stock valued at $488,000 after buying an additional 72 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BKNG shares. DA Davidson set a $240.00 price objective on Booking in a research note on Thursday, August 6th. Truist Financial set a $216.00 price objective on shares of Booking and gave the stock a "buy" rating in a report on Wednesday, September 30th. Wells Fargo & Company reiterated a "reduce" rating and issued a $190.00 target price (down from $220.00) on shares of Booking in a research note on Wednesday, October 7th. Mizuho set a $240.00 target price on shares of Booking in a report on Wednesday, August 5th. Finally, UBS Group increased their price target on Booking from $266.00 to $274.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. 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, Booking currently has an average rating of "Moderate Buy" and a consensus price target of $233.71.

Booking Stock Down 3.4%

NASDAQ BKNG opened at $158.38 on Thursday. The company's 50 day moving average is $179.02 and its 200-day moving average is $177.43. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $220.81. The firm has a market cap of $119.00 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping the consensus estimate of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period last year, the firm earned $55.40 EPS. Booking's revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts expect that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were given a $0.42 dividend. 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 (DPR) is 18.58%.

Insider Buying and Selling

In other Booking news, CFO Ewout L. Steenbergen sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 59,794 shares in the company, valued at $12,618,327.82. This represents a 25.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the director owned 16,000 shares in the company, valued at $3,200,000. This represents a 23.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 84,550 shares of company stock valued at $17,426,864 in the last three months. Insiders own 0.17% of the company's stock.

Booking Company 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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