Glenview Trust Co Sells 8,975 Shares of Booking Holdings Inc. $BKNG

Key Points

• Glenview Trust Co. cut its Booking Holdings stake by 54.7% in the third quarter, selling 8,975 shares and retaining 7,425 shares worth approximately $1.21 million. Institutional investors collectively own 92.42% of BKNG.
• Booking’s shares opened at $148.13, near their 52-week low of $146.28 and well below the $220.81 high. The company recently beat quarterly EPS and revenue estimates, while analysts maintain a “Moderate Buy” consensus with an average price target of $233.07.
• Investors are monitoring growth in loyalty programs and the Connected Trip initiative, alongside risks from currency headwinds, travel disruptions and higher marketing costs. Insiders sold 78,425 shares worth $16.2 million over the past three months.

Glenview Trust Co decreased its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 54.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,425 shares of the business services provider's stock after selling 8,975 shares during the quarter. Glenview Trust Co's holdings in Booking were worth $1,210,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BKNG. HB Wealth Management LLC raised its holdings in shares of Booking by 3.9% during the first quarter. HB Wealth Management LLC now owns 1,503 shares of the business services provider's stock worth $6,329,000 after acquiring an additional 57 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Booking by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 1,497 shares of the business services provider's stock valued at $6,304,000 after purchasing an additional 57 shares in the last quarter. Mill Capital Management LLC grew its stake in Booking by 1.1% in the first quarter. Mill Capital Management LLC now owns 5,721 shares of the business services provider's stock valued at $24,087,000 after purchasing an additional 65 shares in the last quarter. Van Diest Capital LLC increased its position in Booking by 30.1% in the 1st quarter. Van Diest Capital LLC now owns 281 shares of the business services provider's stock worth $1,185,000 after purchasing an additional 65 shares during the last quarter. Finally, Garrett Wealth Advisory Group LLC increased its position in Booking by 2.5% in the 3rd quarter. Garrett Wealth Advisory Group LLC now owns 2,667 shares of the business services provider's stock worth $434,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s global travel leadership, high margins and strong cash-flow generation remain important supports for the investment case. Its cash position could provide flexibility for share repurchases, investment and other shareholder returns. Booking vs. Coupang: Which Stock Is the Better Buy in November?
• Positive Sentiment: Investors will be watching for continued progress in loyalty adoption and the Connected Trip initiative, which aims to increase customer engagement and cross-selling across accommodations, flights, rental cars and other travel services. Strong execution could improve longer-term growth expectations. The Connected Trip Gamble
• Neutral Sentiment: BKNG has attracted unusually high investor attention and options activity ahead of earnings. This may increase short-term volatility, but the available reports do not indicate whether traders are positioning for a rise or decline. Booking Sees Unusually Large Options Volume
• Neutral Sentiment: Analysts are focused not only on revenue and earnings per share but also on operating metrics and other key indicators for the September quarter. These estimates could set the bar for the earnings reaction. Exploring Analyst Estimates for Booking Holdings Q3 Earnings
• Negative Sentiment: Currency headwinds could reduce the reported value of international bookings and earnings, while travel disruptions may weigh on demand or create additional costs. Booking Holdings Q3 Earnings Ahead
• Negative Sentiment: Higher marketing spending may pressure profitability even if bookings and revenue continue to grow. Investors are therefore likely to scrutinize margins, guidance and management’s outlook. Booking Holdings Q3 Earnings Ahead: What's in Store for the Stock?
• Negative Sentiment: The shares have declined substantially and are trading near their 12-month low, reflecting elevated expectations risk ahead of the report. Any weak guidance or disappointment in Connected Trip adoption could add further pressure.

Booking Price Performance

NASDAQ BKNG opened at $148.13 on Monday. Booking Holdings Inc. has a fifty-two week low of $146.28 and a fifty-two week high of $220.81. The stock's 50-day moving average is $171.26 and its two-hundred day moving average is $177.25. The firm has a market cap of $111.30 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 0.93 and a beta of 1.17.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.11. The company had revenue of $7.35 billion during 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 firm's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $55.40 EPS. On average, equities analysts expect that Booking Holdings Inc. will post 10.48 EPS for the current year.

Insiders Place Their Bets

In related news, insider Paulo Pisano sold 3,000 shares of the business's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $203.48, for a total value of $610,440.00. Following the completion of the sale, the insider directly owned 73,400 shares in the company, valued at approximately $14,935,432. The trade was a 3.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total value of $4,220,600.00. Following the completion of the sale, the chief financial officer owned 59,794 shares of the company's stock, valued at approximately $12,618,327.82. This trade represents a 25.06% 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 sold 78,425 shares of company stock worth $16,210,864 in the last three months. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BKNG shares. Piper Sandler reaffirmed a "neutral" rating and set a $215.00 price target (up from $195.00) on shares of Booking in a research note on Wednesday, August 5th. BTIG Research reissued a "buy" rating and issued a $250.00 price target on shares of Booking in a research note on Thursday, October 22nd. Melius Research set a $225.00 price objective on Booking in a report on Tuesday, October 20th. UBS Group increased their price objective on Booking from $266.00 to $274.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, Morgan Stanley set a $230.00 price objective on shares of Booking and gave the company an "overweight" rating in a research report on Wednesday, September 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Booking has a consensus rating of "Moderate Buy" and an average price target of $233.07.

Booking Company Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.

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