IFM Investors Pty Ltd Purchases New Stake in Booking Holdings Inc. $BKNG

Key Points

• IFM Investors Pty Ltd disclosed a new position in Booking Holdings, buying 6,742 shares worth about $28.4 million in the first quarter.
• Booking reported better-than-expected quarterly results, with EPS of $1.14 versus $1.08 expected and revenue of $5.53 billion, up 16.2% year over year.
• Analysts remain generally positive on BKNG, with a Moderate Buy consensus and an average price target of $227.11, though some firms have trimmed targets and ratings.

IFM Investors Pty Ltd acquired a new position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,742 shares of the business services provider's stock, valued at approximately $28,386,000.

A number of other institutional investors have also recently bought and sold shares of BKNG. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Booking in the third quarter worth approximately $26,000. Daytona Street Capital LLC purchased a new position in Booking during the fourth quarter valued at approximately $27,000. Legacy Bridge LLC acquired a new position in Booking in the 4th quarter valued at approximately $27,000. Camelot Portfolios LLC acquired a new position in Booking in the 4th quarter valued at approximately $27,000. Finally, Osbon Capital Management LLC purchased a new stake in Booking in the 4th quarter worth approximately $27,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Trading Down 2.3%

Booking stock opened at $178.24 on Wednesday. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $233.58. The firm's fifty day simple moving average is $168.74 and its 200-day simple moving average is $182.26. The company has a market capitalization of $138.11 billion, a P/E ratio of 23.45, a P/E/G ratio of 1.09 and a beta of 1.08.

Booking (NASDAQ:BKNG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.06. The firm had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.52 billion. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. Booking's revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. On average, equities research analysts predict that Booking Holdings Inc. will post 10.44 earnings per share for the current year.

Booking Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, June 5th. Booking's dividend payout ratio is 22.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BKNG. Wall Street Zen lowered shares of Booking from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Piper Sandler set a $195.00 price objective on Booking in a report on Wednesday, April 29th. Royal Bank Of Canada reduced their price objective on Booking from $244.00 to $220.00 and set an "outperform" rating for the company in a research report on Wednesday, April 29th. The Goldman Sachs Group lowered their target price on Booking from $226.00 to $223.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 29th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $230.00 target price (down from $240.00) on shares of Booking in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $227.11.

Insider Activity

In related news, CEO Glenn D. Fogel sold 16,726 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $185.36, for a total value of $3,100,331.36. Following the transaction, the chief executive officer directly owned 298,174 shares of the company's stock, valued at approximately $55,269,532.64. This trade represents a 5.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 business's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the sale, the director owned 16,050 shares of the company's stock, valued at approximately $3,081,600. This trade represents a 6.55% 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. In the last quarter, insiders have sold 80,351 shares of company stock valued at $13,545,706. Insiders own 0.16% of the company's stock.

About Booking

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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