Concurrent Investment Advisors LLC Buys 16,645 Shares of Booking Holdings Inc. $BKNG

Key Points

• Concurrent Investment Advisors increased its Booking Holdings stake by 16,645 shares, or 4,059.8%, during the second quarter, bringing its holdings to 17,055 shares valued at approximately $3.04 million. Institutional investors collectively own 92.42% of BKNG.
• Booking exceeded quarterly expectations, reporting $2.54 in EPS versus the $2.43 consensus and $7.35 billion in revenue, up 8.1% year over year. The company also declared a $0.42 quarterly dividend, equivalent to a 0.9% yield.
• Analysts maintain a generally positive outlook, with Booking receiving a “Moderate Buy” consensus rating and an average price target of $236.70, compared with a share price of $193.29. Insiders, however, sold 81,550 shares worth about $16.9 million over the past 90 days.

Concurrent Investment Advisors LLC boosted its position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 4,059.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,055 shares of the business services provider's stock after acquiring an additional 16,645 shares during the period. Concurrent Investment Advisors LLC's holdings in Booking were worth $3,040,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Osbon Capital Management LLC bought a new stake in shares of Booking during the 4th quarter valued at $27,000. Mcguire Capital Advisors Inc. bought a new position in Booking in the 4th quarter worth $27,000. Strive Asset Management LLC purchased a new stake in Booking in the 3rd quarter worth $27,000. Swiss RE Ltd. purchased a new stake in Booking in the 4th quarter worth $27,000. Finally, Godfrey Financial Associates Inc. bought a new stake in Booking during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 92.42% of the company's stock.

Booking Stock Performance

NASDAQ BKNG opened at $193.29 on Tuesday. The business's 50 day moving average price is $194.53 and its 200-day moving average price is $178.71. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $226.10. The company has a market cap of $145.23 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.20 and a beta of 1.07.

Booking (NASDAQ:BKNG - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.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 company earned $55.40 earnings per share. Booking's revenue was up 8.1% on a year-over-year basis. As a group, equities analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Dividend Announcement

The company 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 $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 11th. Booking's dividend payout ratio (DPR) is 18.58%.

Insider Activity

In related news, VP Peter Millones, Jr. sold 50,050 shares of Booking stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the completion of the transaction, the vice president directly owned 375,025 shares of the company's stock, valued at approximately $77,851,439.75. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the company's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $203.48, for a total transaction of $610,440.00. Following the transaction, the insider owned 73,400 shares in the company, valued at $14,935,432. The trade was a 3.93% 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 sold 81,550 shares of company stock worth $16,922,744 in the last 90 days. Company insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

BKNG has been the topic of several research analyst reports. Jefferies Financial Group boosted their price objective on Booking from $180.00 to $190.00 and gave the company a "hold" rating in a research report on Tuesday, July 14th. DA Davidson set a $240.00 target price on Booking in a research report on Thursday, August 6th. Wells Fargo & Company set a $220.00 target price on Booking and gave the company an "equal weight" rating in a research note on Wednesday, August 5th. Argus boosted their price target on Booking from $210.00 to $245.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, Bank of America restated a "buy" rating and issued a $234.00 price target on shares of Booking in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Booking has an average rating of "Moderate Buy" and a consensus price target of $236.70.

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.

Want to see what other hedge funds are holding BKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Booking Holdings Inc. (NASDAQ:BKNG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.