Greatmark Investment Partners Inc. Has $11.26 Million Stock Position in Booking Holdings Inc. $BKNG

Key Points

• Greatmark Investment Partners increased its Booking Holdings stake by 2,542.2% in the second quarter, owning 63,175 shares valued at approximately $11.26 million. Institutional investors collectively hold 92.42% of Booking’s stock.
• Booking reported quarterly earnings of $2.54 per share, exceeding estimates of $2.43, while revenue rose 8.1% year over year to $7.35 billion. The company also declared a quarterly dividend of $0.42 per share, representing a 0.8% annualized yield.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $235.72. Meanwhile, insiders sold 89,625 shares worth $15.87 million during the last quarter, including sales by the CFO and a director under pre-arranged trading plans.

Greatmark Investment Partners Inc. boosted its holdings in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,542.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,175 shares of the business services provider's stock after purchasing an additional 60,784 shares during the quarter. Booking comprises 1.2% of Greatmark Investment Partners Inc.'s holdings, making the stock its 26th largest holding. Greatmark Investment Partners Inc.'s holdings in Booking were worth $11,260,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Camelot Portfolios LLC acquired a new stake in shares of Booking during the 4th quarter worth approximately $27,000. Osbon Capital Management LLC acquired a new position in shares of Booking during the 4th quarter valued at $27,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Booking during the 4th quarter valued at $27,000. Strive Asset Management LLC bought a new position in Booking during the third quarter worth $27,000. Finally, Swiss RE Ltd. bought a new position in Booking during the fourth quarter worth $27,000. 92.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Ewout L. Steenbergen sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer owned 59,794 shares in the company, valued at $12,618,327.82. This represents a 25.06% decrease in their ownership of the stock. The sale 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 Vanessa Ames Wittman sold 1,125 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the transaction, the director directly owned 16,508 shares in the company, valued at $3,169,536. The trade was a 6.38% 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. Over the last quarter, insiders sold 89,625 shares of company stock valued at $15,872,675. 0.17% of the stock is owned by corporate insiders.

Booking Stock Performance

BKNG stock opened at $212.06 on Monday. The business has a 50-day simple moving average of $184.00 and a two-hundred day simple moving average of $176.65. The company has a market capitalization of $159.34 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. Booking Holdings Inc. has a 52-week low of $150.14 and a 52-week 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 the consensus estimate of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the prior year, the business posted $55.40 earnings per share. The company's quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Booking Holdings Inc. will post 10.47 earnings per share for the current fiscal year.

Booking Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be given 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 dividend payout ratio is presently 18.58%.

Analysts Set New Price Targets

Several research firms have weighed in on BKNG. Gordon Haskett lifted their price target 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. Oppenheimer reissued 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. Benchmark raised their target price on Booking from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Bank of America restated a "buy" rating and issued a $234.00 target price on shares of Booking in a research note on Wednesday, August 5th. Finally, Robert W. Baird set a $230.00 target price on Booking 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 assigned a Hold rating to the company. According to MarketBeat.com, Booking has an average rating of "Moderate Buy" and a consensus price target 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.

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