Everhart Financial Group Inc. Buys 8,307 Shares of Booking Holdings Inc. $BKNG

Key Points

• Everhart Financial Group increased its Booking Holdings stake by 1,992.1% in the second quarter, adding 8,307 shares to own 8,724 shares valued at approximately $1.56 million. Institutional investors collectively hold 92.42% of BKNG.
• Booking exceeded quarterly expectations, reporting $2.54 in earnings per share and $7.35 billion in revenue, with revenue up 8.1% year over year. Analysts maintain a broadly bullish view, with a “Moderate Buy” consensus and an average price target of $234.69.
• Booking declared a quarterly dividend of $0.42 per share, representing a 0.8% annualized yield, while insiders sold shares under pre-arranged trading plans. Near-term risks include softer guidance, moderating room-night growth, higher marketing costs and increased competition.

Everhart Financial Group Inc. increased its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 1,992.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,724 shares of the business services provider's stock after buying an additional 8,307 shares during the period. Everhart Financial Group Inc.'s holdings in Booking were worth $1,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKNG. J. Stern & Co. LLP raised its stake in Booking by 191,965.8% during the fourth quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider's stock valued at $15,171,489,000 after buying an additional 2,831,495 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of Booking by 1,497.3% in the first quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider's stock worth $3,665,168,000 after acquiring an additional 816,022 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Booking by 66,209.8% in the second quarter. Assenagon Asset Management S.A. now owns 659,783 shares of the business services provider's stock worth $117,600,000 after acquiring an additional 658,788 shares during the last quarter. Norges Bank bought a new position in shares of Booking during the fourth quarter valued at $3,271,041,000. Finally, Cardano Risk Management B.V. increased its holdings in shares of Booking by 2,215.9% during the second quarter. Cardano Risk Management B.V. now owns 478,757 shares of the business services provider's stock valued at $85,334,000 after acquiring an additional 458,084 shares in the last quarter. Institutional investors own 92.42% of the company's stock.

Booking Price Performance

Booking stock opened at $214.42 on Friday. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $231.80. The business's fifty day moving average is $179.43 and its 200 day moving average is $176.56. The stock has a market capitalization of $161.11 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.31 and a beta of 1.07.

Booking (NASDAQ:BKNG - Get Free Report) last issued its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.11. The business 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%.Booking's revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $55.40 EPS. As a group, sell-side analysts expect that Booking Holdings Inc. will post 10.43 EPS for the current fiscal year.

Booking Announces Dividend

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

Insider Activity

In related news, Director Robert J. Mylod, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the transaction, the director owned 16,000 shares in the company, valued at $3,200,000. This represents a 23.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total transaction of $216,000.00. Following the completion of the sale, the director owned 16,508 shares in the company, valued at $3,169,536. This represents a 6.38% decrease in their position. 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 valued at $11,652,075 over the last three months. Insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BKNG. Citigroup reiterated a "buy" rating and issued a $236.00 price target (up from $225.00) on shares of Booking in a research note on Wednesday. Gordon Haskett raised their price objective on shares of Booking from $217.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Robert W. Baird set a $230.00 price objective on shares of Booking in a research note on Wednesday. Argus set a $210.00 target price on shares of Booking and gave the stock a "buy" rating in a report on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $230.00 target price on shares of Booking in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Booking presently has a consensus rating of "Moderate Buy" and an average target price of $234.69.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

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.

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