Hohimer Wealth Management LLC Acquires 17,494 Shares of Booking Holdings Inc. $BKNG

Key Points

• Hohimer Wealth Management increased its Booking Holdings stake by 378.4% in the third quarter, adding 17,494 shares and ending the period with 22,117 shares valued at about $3.6 million.
• Institutional investors own 92.42% of Booking’s shares. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $222.35.
• Booking beat quarterly earnings and revenue estimates, reporting EPS of $4.66 and revenue of $9.79 billion, though revenue declined 1.2% year over year.

Hohimer Wealth Management LLC boosted its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 378.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,117 shares of the business services provider's stock after acquiring an additional 17,494 shares during the period. Hohimer Wealth Management LLC's holdings in Booking were worth $3,603,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Booking in the 2nd quarter worth approximately $11,646,302,000. State Street Corp boosted its holdings in shares of Booking by 2,674.6% during the 2nd quarter. State Street Corp now owns 39,420,711 shares of the business services provider's stock worth $7,026,348,000 after purchasing an additional 37,999,915 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Booking during the 2nd quarter worth approximately $1,691,186,000. Bank of New York Mellon Corp acquired a new position in shares of Booking during the 2nd quarter worth approximately $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Booking by 2,525.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider's stock valued at $1,087,597,000 after purchasing an additional 5,869,459 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BKNG. Oppenheimer reaffirmed an "outperform" rating and issued a $240.00 price target (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. Benchmark boosted their price objective on Booking from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Robert W. Baird set a $230.00 price objective on Booking in a research note on Wednesday, August 5th. BTIG Research restated a "buy" rating and issued a $250.00 target price on shares of Booking in a report on Wednesday, November 4th. Finally, Truist Financial set a $216.00 target price on Booking and gave the stock a "buy" rating in a research note on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $222.35.

Booking Price Performance

NASDAQ:BKNG opened at $160.66 on Monday. The firm has a market capitalization of $119.48 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.03 and a beta of 1.17. The company's 50-day moving average is $166.49 and its two-hundred day moving average is $176.13. Booking Holdings Inc. has a 1-year low of $146.28 and a 1-year high of $220.81.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.49 by $0.17. The business had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.55 billion. Booking had a net margin of 25.52% and a negative return on equity of 89.54%. The business's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $99.50 EPS. As a group, equities analysts anticipate that Booking Holdings Inc. will post 10.24 earnings per share for the current fiscal year.

Insider Transactions at Booking

In related news, VP Peter Millones, Jr. sold 50,050 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $207.59, for a total value of $10,389,879.50. Following the completion of the transaction, the vice president directly owned 375,025 shares in the company, valued at approximately $77,851,439.75. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mylod, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 14,000 shares of the company's stock, valued at $2,800,000. The trade was a 6.67% 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 a total of 77,425 shares of company stock valued at $16,004,164 in the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking's business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

About Booking

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.

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