Dockside LLC Acquires Shares of 18,305 Booking Holdings Inc. $BKNG

Key Points

• Dockside LLC acquired 18,305 Booking Holdings shares during the second quarter, valued at approximately $3.26 million. Institutional investors collectively own 92.42% of the company.
• Analysts maintain a generally positive outlook, with Booking holding a “Moderate Buy” consensus rating and an average price target of $235.72; recent targets range from $215 to $274.
• Booking exceeded quarterly expectations, reporting $2.54 in EPS and $7.35 billion in revenue, up 8.1% year over year. The company also declared a $0.42 quarterly dividend, while insiders have sold 89,625 shares worth about $15.9 million over the past 90 days.

Dockside LLC acquired a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,305 shares of the business services provider's stock, valued at approximately $3,263,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Bogart Wealth LLC grew its stake in shares of Booking by 3,475.0% in the second quarter. Bogart Wealth LLC now owns 143 shares of the business services provider's stock valued at $25,000 after buying an additional 139 shares in the last quarter. Wilkerson Advisory Group LLC lifted its position in Booking by 3,550.0% during the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider's stock worth $26,000 after acquiring an additional 142 shares in the last quarter. Camelot Portfolios LLC acquired a new position in Booking during the 4th quarter worth approximately $27,000. Osbon Capital Management LLC acquired a new position in Booking during the 4th quarter worth approximately $27,000. Finally, First Financial Corp IN boosted its holdings in Booking by 2,400.0% in the 2nd quarter. First Financial Corp IN now owns 150 shares of the business services provider's stock worth $27,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 92.42% of the company's stock.

Analysts Set New Price Targets

BKNG has been the subject of several recent research reports. Piper Sandler reaffirmed a "neutral" rating and issued a $215.00 price objective (up from $195.00) on shares of Booking in a research report on Wednesday, August 5th. Sanford C. Bernstein restated a "market perform" rating on shares of Booking in a research note on Thursday, June 11th. Cantor Fitzgerald upped their target price on shares of Booking from $175.00 to $220.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. UBS Group raised their price target on shares of Booking from $266.00 to $274.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, DA Davidson set a $240.00 price target on shares of Booking in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.72.

Booking Price Performance

Shares of NASDAQ BKNG opened at $212.06 on Monday. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $231.80. The business has a 50 day moving average price of $184.00 and a two-hundred day moving average price of $176.65. The firm has a market cap of $159.34 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07.

Booking (NASDAQ:BKNG - Get Free Report) last announced its earnings results 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 company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.Booking's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $55.40 EPS. On average, analysts anticipate that Booking Holdings Inc. will post 10.47 earnings per share for the current year.

Booking Dividend Announcement

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

Insider Activity at Booking

In other Booking news, Director Vanessa Ames Wittman sold 1,125 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the transaction, the director directly owned 16,508 shares in the company, valued at $3,169,536. This represents a 6.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total transaction of $206,700.00. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $3,100,500. This represents a 6.25% 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 89,625 shares of company stock worth $15,872,675 in the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

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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