Booking Holdings Inc. $BKNG Stock Position Boosted by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Booking Holdings stake by 36.6% in the third quarter, adding 8,686 shares to reach 32,437 shares valued at about $5.28 million.
• Booking beat quarterly estimates, reporting adjusted EPS of $4.66 versus $4.49 expected and revenue of $9.79 billion versus $9.55 billion expected; revenue was down 1.2% year over year.
• Analyst views remain broadly positive, with a “Moderate Buy” consensus and average target of $222.35, though several firms cut price targets. Insiders sold 77,425 shares worth about $16 million in the last quarter.

Alps Advisors Inc. raised its holdings in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 36.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,437 shares of the business services provider's stock after acquiring an additional 8,686 shares during the quarter. Alps Advisors Inc.'s holdings in Booking were worth $5,284,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Booking

In other Booking news, Director Vanessa Wittman sold 375 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $211.00, for a total transaction of $79,125.00. Following the sale, the director owned 16,133 shares in the company, valued at approximately $3,404,063. The trade was a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter Millones, Jr. sold 50,050 shares of the stock in a transaction dated 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 completion of the transaction, the vice president directly owned 375,025 shares in the company, valued at $77,851,439.75. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,425 shares of company stock worth $16,004,164 in the last quarter. 0.17% of the stock is owned by insiders.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking's business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

Booking Stock Performance

NASDAQ:BKNG opened at $160.66 on Monday. Booking Holdings Inc. has a 12 month low of $146.28 and a 12 month high of $220.81. The firm has a fifty day simple moving average of $166.49 and a 200-day simple moving average of $176.13. The company has a market capitalization of $119.48 billion, a P/E ratio of 17.33, a PEG ratio of 1.03 and a beta of 1.17.

Booking (NASDAQ:BKNG - Get Free Report) last released its earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.17. Booking had a negative return on equity of 89.54% and a net margin of 25.52%. The firm had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the prior year, the firm earned $99.50 EPS. The firm's revenue was down 1.2% on a year-over-year basis. Equities analysts forecast that Booking Holdings Inc. will post 10.24 EPS for the current year.

Analyst Upgrades and Downgrades

BKNG has been the subject of several analyst reports. Cantor Fitzgerald decreased their price objective on Booking from $170.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, November 4th. BMO Capital Markets restated an "outperform" rating and set a $245.00 target price on shares of Booking in a research note on Wednesday. Rosenblatt Securities reduced their target price on Booking from $245.00 to $210.00 and set a "buy" rating on the stock in a research report on Wednesday, November 4th. Morgan Stanley reiterated an "overweight" rating and issued a $200.00 price target (down from $230.00) on shares of Booking in a research note on Wednesday. Finally, TD Cowen raised Booking to a "strong-buy" rating in a report on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $222.35.

About Booking

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.

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