Envestnet Portfolio Solutions Inc. Acquires 84,461 Shares of Booking Holdings Inc. $BKNG

Key Points

• Envestnet Portfolio Solutions increased its Booking Holdings stake by 2,516% in the second quarter, acquiring 84,461 additional shares and bringing its total holdings to 87,818 shares valued at approximately $15.7 million.
• Booking reported quarterly EPS of $2.54, exceeding estimates of $2.43, while revenue reached $7.35 billion, up 8.1% year over year. The company also announced a quarterly dividend of $0.42 per share.
• Analysts maintain a generally positive outlook, with Booking 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 90 days.

Envestnet Portfolio Solutions Inc. lifted its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,516.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,818 shares of the business services provider's stock after buying an additional 84,461 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Booking were worth $15,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. BLB&B Advisors LLC increased its stake in shares of Booking by 4.0% in the 4th quarter. BLB&B Advisors LLC now owns 52 shares of the business services provider's stock valued at $278,000 after purchasing an additional 2 shares during the last quarter. Equity Wealth Partners LLC lifted its position in shares of Booking by 2.0% during the 4th quarter. Equity Wealth Partners LLC now owns 101 shares of the business services provider's stock worth $543,000 after buying an additional 2 shares during the last quarter. MBM Wealth Consultants LLC lifted its position in shares of Booking by 0.5% during the 4th 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. Whittier Trust Co. boosted its stake in Booking by 0.3% in the fourth quarter. Whittier Trust Co. now owns 642 shares of the business services provider's stock valued at $3,434,000 after buying an additional 2 shares in the last quarter. Finally, Bigelow Investment Advisors LLC boosted its stake in Booking by 1.8% in the fourth quarter. Bigelow Investment Advisors LLC now owns 112 shares of the business services provider's stock valued at $600,000 after buying an additional 2 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Booking Price Performance

BKNG stock opened at $213.34 on Friday. The company's 50-day moving average is $183.08 and its 200-day moving average is $177.00. The stock has a market capitalization of $160.30 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $231.80.

Booking (NASDAQ:BKNG - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.11. The firm had revenue of $7.35 billion during 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%.The company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous 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 fiscal year.

Booking Dividend Announcement

The business 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. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 0.8%. Booking's dividend payout ratio (DPR) is currently 18.58%.

Insider Buying and Selling

In other news, VP Peter J. Millones sold 62,500 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the completion of the transaction, the vice president directly 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 Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the company'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 in the company, valued at $3,169,536. This represents a 6.38% 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 89,625 shares of company stock worth $15,872,675 in the last 90 days. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BKNG has been the subject of a number of research reports. Weiss Ratings raised shares of Booking from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 29th. Oppenheimer reaffirmed an "outperform" rating and set a $240.00 price target (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. UBS Group upped their price objective on shares of Booking from $266.00 to $274.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. dropped their price objective 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. Finally, Piper Sandler restated a "neutral" rating and issued a $215.00 target price (up from $195.00) 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 assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source