Booking Holdings Inc. $BKNG Stock Sold by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth cut its Booking Holdings position by 97.6% in the third quarter, selling 84,073 shares and retaining 2,034 shares valued at approximately $331,000.
• Despite SteelPeak’s selling, several other institutional investors increased their holdings, and institutional ownership remains high at 92.42% of Booking’s outstanding stock.
• Booking reported quarterly EPS of $2.54, beating estimates by $0.11, while revenue rose 8.1% year over year to $7.35 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $233.71.

SteelPeak Wealth LLC trimmed its position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 97.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,034 shares of the business services provider's stock after selling 84,073 shares during the period. SteelPeak Wealth LLC's holdings in Booking were worth $331,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Robertson Stephens Wealth Management LLC grew its holdings in shares of Booking by 6.7% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 4,930 shares of the business services provider's stock valued at $803,000 after purchasing an additional 308 shares during the last quarter. Frank Rimerman Advisors LLC lifted its stake in Booking by 23.4% in the third quarter. Frank Rimerman Advisors LLC now owns 8,718 shares of the business services provider's stock worth $1,420,000 after purchasing an additional 1,654 shares during the last quarter. Birch Hill Investment Advisors LLC lifted its stake in Booking by 20.5% in the third quarter. Birch Hill Investment Advisors LLC now owns 4,821 shares of the business services provider's stock worth $785,000 after purchasing an additional 821 shares during the last quarter. Kintegral Advisory LLC boosted its position in Booking by 34.6% during the third quarter. Kintegral Advisory LLC now owns 31,336 shares of the business services provider's stock valued at $5,105,000 after buying an additional 8,061 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in Booking by 90.2% during the third quarter. TD Waterhouse Canada Inc. now owns 66,561 shares of the business services provider's stock valued at $10,843,000 after buying an additional 31,559 shares during the period. Institutional investors own 92.42% of the company's stock.

Booking Trading Up 0.8%

BKNG stock opened at $163.92 on Wednesday. The firm's 50-day moving average price is $180.09 and its two-hundred day moving average price is $177.47. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $220.81. The stock has a market capitalization of $123.17 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.01 and a beta of 1.13.

Booking (NASDAQ:BKNG - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating the consensus estimate of $2.43 by $0.11. The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $55.40 earnings per share. Equities 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 issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, September 11th. Booking's payout ratio is currently 18.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BKNG shares. Bank of America reaffirmed a "buy" rating and set a $234.00 price objective on shares of Booking in a research note on Wednesday, August 5th. Robert W. Baird set a $230.00 target price on Booking in a research note on Wednesday, August 5th. BTIG Research reissued a "buy" rating and issued a $250.00 target price on shares of Booking in a research note on Thursday, September 24th. Oppenheimer restated an "outperform" rating and set a $240.00 target price (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group set a $215.00 price target on Booking and gave the stock a "neutral" rating in a research report on Monday, July 20th. Three research 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.71.

Insider Activity at Booking

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 stock was sold at an average price of $211.03, for a total value of $4,220,600.00. Following the completion of the sale, the chief financial officer owned 59,794 shares in the company, valued at approximately $12,618,327.82. This trade represents a 25.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 stock was sold at an average price of $207.59, for a total value of $10,389,879.50. Following the completion of the sale, the vice president owned 375,025 shares in the company, valued at approximately $77,851,439.75. This represents a 11.77% decrease in their ownership of the stock. 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 have sold 84,550 shares of company stock worth $17,426,864 over the last 90 days. 0.17% of the stock is owned by insiders.

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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