E. Ohman J or Asset Management AB Has $5 Million Stake in Booking Holdings Inc. $BKNG

Key Points

• E. Ohman J or Asset Management AB increased its Booking Holdings stake by 1,824.8% in the second quarter, ending with 28,064 shares valued at approximately $5 million. Institutional investors and hedge funds collectively own 92.42% of BKNG.
• Booking reported quarterly revenue of $7.35 billion and adjusted earnings of $2.54 per share, exceeding analyst expectations; revenue rose 8.1% year over year. The company also declared a quarterly dividend of $0.42 per share, equating to a 0.8% yield.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $235.72. However, insiders sold 69,625 shares worth approximately $11.7 million over the past 90 days.

E. Ohman J or Asset Management AB raised its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 1,824.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,064 shares of the business services provider's stock after acquiring an additional 26,606 shares during the period. E. Ohman J or Asset Management AB's holdings in Booking were worth $5,002,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BKNG. Westside Investment Management Inc. grew its holdings in shares of Booking by 22.2% in the 4th quarter. Westside Investment Management Inc. now owns 11 shares of the business services provider's stock worth $59,000 after purchasing an additional 2 shares during the last quarter. FSM Wealth Advisors LLC lifted its holdings in Booking by 4.9% during the 4th quarter. FSM Wealth Advisors LLC now owns 43 shares of the business services provider's stock valued at $232,000 after purchasing an additional 2 shares during the last quarter. BLB&B Advisors LLC boosted its position in Booking by 4.0% in the fourth quarter. BLB&B Advisors LLC now owns 52 shares of the business services provider's stock valued at $278,000 after buying an additional 2 shares in the last quarter. Equity Wealth Partners LLC boosted its position in Booking by 2.0% in the fourth quarter. Equity Wealth Partners LLC now owns 101 shares of the business services provider's stock valued at $543,000 after buying an additional 2 shares in the last quarter. Finally, MBM Wealth Consultants LLC grew its stake in Booking by 0.5% during the fourth quarter. MBM Wealth Consultants LLC now owns 403 shares of the business services provider's stock worth $2,158,000 after buying an additional 2 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Stock Performance

BKNG opened at $212.88 on Tuesday. The firm's fifty day moving average is $180.30 and its two-hundred day moving average is $176.61. The firm has a market cap of $159.95 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.30 and a beta of 1.07. Booking Holdings Inc. has a twelve month low of $150.14 and a twelve month high of $231.80.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the business earned $55.40 EPS. The firm's revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that Booking Holdings Inc. will post 10.43 EPS for the current fiscal year.

Booking Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking's payout ratio is presently 18.58%.

Insiders Place Their Bets

In other news, VP Peter J. Millones sold 62,500 shares of Booking stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the transaction, the vice president owned 425,075 shares in the company, valued at $69,572,025.25. The trade was a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $206.70, for a total value of $206,700.00. Following the completion of the transaction, the director owned 15,000 shares of the company's stock, valued at $3,100,500. This represents 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 69,625 shares of company stock worth $11,652,075 over the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird set a $230.00 price objective on shares of Booking in a report on Wednesday, August 5th. Jefferies Financial Group boosted their target price on Booking from $180.00 to $190.00 and gave the stock a "hold" rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. dropped their price target on Booking from $224.00 to $208.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Royal Bank Of Canada cut their price objective on Booking from $244.00 to $220.00 and set an "outperform" rating for the company in a research report on Wednesday, April 29th. Finally, Cantor Fitzgerald lifted their price objective on Booking from $175.00 to $220.00 and gave the company a "neutral" rating 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 issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $235.72.

Booking Company 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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