Citizens National Bank Trust Department Purchases 5,644 Shares of Booking Holdings Inc. $BKNG

Key Points

• Citizens National Bank Trust Department increased its Booking Holdings stake by 2,443.3% in the second quarter, acquiring 5,644 additional shares and ending with a position worth approximately $1.05 million. Institutional investors collectively own 92.42% of BKNG.
• Booking exceeded quarterly expectations, reporting $2.54 in EPS and $7.35 billion in revenue, with revenue up 8.1% year over year. The company also announced a quarterly dividend of $0.42 per share, representing a 0.8% yield.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $235.72. However, insiders sold 89,625 shares worth about $15.9 million over the past three months.

Citizens National Bank Trust Department raised its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,443.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,875 shares of the business services provider's stock after acquiring an additional 5,644 shares during the quarter. Citizens National Bank Trust Department's holdings in Booking were worth $1,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BKNG. Capital Investment Services of America Inc. boosted its stake in shares of Booking by 2,349.0% during the 2nd quarter. Capital Investment Services of America Inc. now owns 130,066 shares of the business services provider's stock worth $23,183,000 after buying an additional 124,755 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Booking by 2,643.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 527,425 shares of the business services provider's stock valued at $94,008,000 after purchasing an additional 508,197 shares during the last quarter. Mayar Capital Ltd. grew its stake in Booking by 9.1% in the second quarter. Mayar Capital Ltd. now owns 38,470 shares of the business services provider's stock valued at $6,857,000 after purchasing an additional 3,220 shares in the last quarter. Hidden Cove Wealth Management LLC bought a new position in Booking in the second quarter valued at approximately $242,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Booking by 3,723.5% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 4,397 shares of the business services provider's stock worth $784,000 after purchasing an additional 4,282 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

Booking Stock Performance

BKNG stock opened at $212.06 on Friday. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $231.80. The company has a market capitalization of $159.34 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07. The company's 50-day simple moving average is $184.00 and its 200 day simple moving average is $177.04.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $55.40 EPS. On average, analysts forecast that Booking Holdings Inc. will post 10.47 EPS for the current year.

Booking Announces Dividend

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

Insider Buying and Selling

In related news, Director Vanessa Ames Wittman sold 1,125 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the transaction, the director owned 16,508 shares of the company's stock, valued at $3,169,536. The trade was a 6.38% 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 stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the sale, the chief financial officer owned 59,794 shares in the company, valued at $12,618,327.82. The trade was a 25.06% 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 a total of 89,625 shares of company stock worth $15,872,675 over the last three months. Company insiders own 0.17% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on BKNG shares. BTIG Research reissued a "buy" rating and issued a $250.00 target price on shares of Booking in a research note on Wednesday, August 5th. Bank of America reissued a "buy" rating and issued a $234.00 price objective on shares of Booking in a research report on Wednesday, August 5th. HSBC cut their target price on shares of Booking from $309.84 to $298.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Robert W. Baird set a $230.00 price target on Booking in a research report on Wednesday, August 5th. Finally, Citigroup reaffirmed a "buy" rating and issued a $236.00 price objective (up from $225.00) on shares of Booking in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently 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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