Integrated Wealth Concepts LLC Purchases 16,643 Shares of Booking Holdings Inc. $BKNG

Key Points

• Integrated Wealth Concepts LLC increased its Booking Holdings position by 1,600.3%, adding 16,643 shares to own 17,683 shares valued at approximately $3.15 million. Institutional investors collectively own 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. The company also declared a quarterly dividend of $0.42 per share, representing a 1.0% annualized yield.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $236.70 versus the stock’s $173.92 opening price. Meanwhile, insiders sold 81,550 shares worth approximately $16.9 million over the past three months under pre-arranged trading plans.

Integrated Wealth Concepts LLC lifted its position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 1,600.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,683 shares of the business services provider's stock after buying an additional 16,643 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Booking were worth $3,152,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in BKNG. Benjamin Edwards Inc. lifted its position in shares of Booking by 1.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 121 shares of the business services provider's stock worth $700,000 after purchasing an additional 2 shares during the period. Radnor Capital Management LLC increased its holdings in Booking by 0.6% during the fourth quarter. Radnor Capital Management LLC now owns 534 shares of the business services provider's stock valued at $2,860,000 after buying an additional 3 shares during the period. MJP Associates Inc. ADV increased its holdings in Booking by 6.1% during the fourth quarter. MJP Associates Inc. ADV now owns 52 shares of the business services provider's stock valued at $278,000 after buying an additional 3 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its stake in Booking by 1.9% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 158 shares of the business services provider's stock worth $846,000 after buying an additional 3 shares in the last quarter. Finally, Goldstein Advisors LLC raised its stake in Booking by 7.9% in the fourth quarter. Goldstein Advisors LLC now owns 41 shares of the business services provider's stock worth $220,000 after buying an additional 3 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Price Performance

Shares of Booking stock opened at $173.92 on Monday. The firm has a market capitalization of $130.68 billion, a P/E ratio of 19.25, a PEG ratio of 1.08 and a beta of 1.07. The company has a 50 day moving average price of $193.97 and a 200 day moving average price of $179.10. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $225.00.

Booking (NASDAQ:BKNG - Get Free Report) last released its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.11. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. Booking's revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $55.40 EPS. As a group, research analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.

Booking Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Booking's dividend payout ratio is presently 18.58%.

Insider Buying and Selling

In other news, insider Paulo Pisano sold 3,000 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $203.48, for a total value of $610,440.00. Following the transaction, the insider directly owned 73,400 shares of the company's stock, valued at approximately $14,935,432. This represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of Booking stock in a transaction dated 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 sale, the chief financial officer directly owned 59,794 shares of the company's stock, valued at $12,618,327.82. This trade represents a 25.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 81,550 shares of company stock worth $16,922,744 over the last three months. Corporate insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BKNG. Citigroup reaffirmed a "buy" rating and set a $236.00 target price (up from $225.00) on shares of Booking in a research report on Wednesday, August 5th. Evercore reissued an "outperform" rating and issued a $270.00 price target on shares of Booking in a research report on Monday, August 24th. Oppenheimer restated an "outperform" rating and set a $240.00 price objective (up from $215.00) on shares of Booking in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $230.00 price objective on shares of Booking in a research report on Wednesday, August 5th. Finally, Robert W. Baird set a $230.00 target price on Booking in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $236.70.

Booking Company Profile

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.

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