Bryn Mawr Trust Advisors LLC Makes New $1.81 Million Investment in Booking Holdings Inc. $BKNG

Key Points

• Bryn Mawr Trust Advisors acquired 10,166 Booking Holdings shares worth approximately $1.81 million in the second quarter. Institutional investors collectively own 92.42% of the company.
• Booking reported quarterly earnings of $2.54 per share and revenue of $7.35 billion, surpassing analyst expectations; revenue increased 8.1% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $235.72, while Booking declared a quarterly dividend of $0.42 per share and insiders sold $15.87 million of stock over the past 90 days.

Bryn Mawr Trust Advisors LLC bought a new position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,166 shares of the business services provider's stock, valued at approximately $1,812,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Booking by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 2,997,949 shares of the business services provider's stock worth $16,055,006,000 after acquiring an additional 23,159 shares in the last quarter. J. Stern & Co. LLP grew its stake in Booking by 191,965.8% in the fourth quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider's stock valued at $15,171,489,000 after purchasing an additional 2,831,495 shares in the last quarter. State Street Corp grew its stake in Booking by 0.5% in the fourth quarter. State Street Corp now owns 1,435,116 shares of the business services provider's stock valued at $7,685,520,000 after purchasing an additional 6,976 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Booking by 15.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 966,121 shares of the business services provider's stock worth $5,173,899,000 after purchasing an additional 128,700 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in Booking by 1,497.3% in the 1st quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider's stock worth $3,665,168,000 after purchasing an additional 816,022 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Booking Stock Performance

Booking stock opened at $212.06 on Monday. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $231.80. The firm has a market capitalization of $159.34 billion, a PE ratio of 23.47, a PEG ratio of 1.28 and a beta of 1.07. The business's 50-day simple moving average is $184.00 and its 200-day simple moving average is $176.65.

Booking (NASDAQ:BKNG - Get Free Report) last released its earnings results 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 analysts' expectations of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $55.40 EPS. Research analysts forecast that Booking Holdings Inc. will post 10.47 earnings per share for the current year.

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking's payout ratio is presently 18.58%.

Insider Buying and Selling

In other Booking news, Director Vanessa Ames Wittman sold 1,125 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total value of $216,000.00. Following the transaction, the director directly owned 16,508 shares in the company, valued at $3,169,536. The trade was a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total value of $206,700.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at $3,100,500. The trade was a 6.25% 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 a total of 89,625 shares of company stock valued at $15,872,675 over the last ninety days. Company insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BKNG shares. TD Cowen reiterated a "buy" rating and set a $230.00 price target (down from $240.00) on shares of Booking in a report on Wednesday, April 29th. BTIG Research restated a "buy" rating and issued a $250.00 price objective on shares of Booking in a report on Wednesday, August 5th. Wells Fargo & Company set a $220.00 price objective on shares of Booking and gave the company an "equal weight" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada reduced their target price on shares of Booking from $244.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Booking from $224.00 to $208.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $235.72.

Booking Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company's businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.

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