Elevation Point Wealth Partners LLC Purchases New Shares in Booking Holdings Inc. $BKNG

Key Points

• Elevation Point Wealth Partners initiated a position in Booking Holdings, purchasing 18,002 shares valued at approximately $3.2 million. Institutional investors collectively own 92.42% of the company.
• Analysts maintain a generally positive outlook, with Booking receiving a consensus “Moderate Buy” rating and an average price target of $235.72, despite some target reductions.
• Booking exceeded quarterly expectations, reporting $2.54 in earnings per share and $7.35 billion in revenue, while revenue rose 8.1% year over year. The company also announced a quarterly dividend of $0.42 per share.

Elevation Point Wealth Partners LLC purchased a new position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,002 shares of the business services provider's stock, valued at approximately $3,209,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Bogart Wealth LLC lifted its position in Booking by 3,475.0% during 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 during the period. Wilkerson Advisory Group LLC grew its position in shares of Booking by 3,550.0% in the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider's stock worth $26,000 after buying an additional 142 shares during the period. Camelot Portfolios LLC purchased a new stake in shares of Booking in the 4th quarter worth about $27,000. Osbon Capital Management LLC bought a new position in shares of Booking in the 4th quarter worth about $27,000. Finally, First Financial Corp IN increased its stake in shares of 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 in the last quarter. Institutional investors own 92.42% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Cowen reissued a "buy" rating and set a $230.00 price objective (down from $240.00) on shares of Booking in a research note on Wednesday, April 29th. JPMorgan Chase & Co. decreased 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. Susquehanna reissued a "positive" rating and issued a $240.00 price target on shares of Booking in a research report on Thursday, August 6th. Weiss Ratings upgraded Booking from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 29th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $240.00 price objective (up from $215.00) on shares of Booking in a research report on Wednesday, August 5th. 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 a consensus rating of "Moderate Buy" and a consensus target price of $235.72.

Insiders Place Their Bets

In related news, CFO Ewout L. Steenbergen sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total value of $4,220,600.00. Following the sale, the chief financial officer owned 59,794 shares in the company, valued at approximately $12,618,327.82. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 375 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $211.00, for a total value of $79,125.00. Following the completion of the transaction, the director owned 16,133 shares in the company, valued at approximately $3,404,063. This trade represents a 2.27% 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 140,050 shares of company stock valued at $26,341,680 over the last quarter. Corporate insiders own 0.17% of the company's stock.

Booking Trading Down 0.1%

BKNG stock opened at $209.62 on Friday. The stock has a market capitalization of $157.50 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $231.80. The stock's 50 day simple moving average is $188.60 and its 200 day simple moving average is $177.00.

Booking (NASDAQ:BKNG - Get Free Report) last issued 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 business had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The company's revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $55.40 EPS. On average, research analysts predict that Booking Holdings Inc. will post 10.47 earnings per share for the current year.

Booking Dividend Announcement

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

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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