International Assets Investment Management LLC Buys 10,196 Shares of Booking Holdings Inc. $BKNG

Key Points

• International Assets Investment Management opened a position in Booking Holdings, acquiring 10,196 shares worth approximately $1.66 million in the third quarter.
• Institutional investors and hedge funds collectively own 92.42% of Booking’s shares; several firms also increased their holdings.
• Booking beat quarterly EPS and revenue estimates, though revenue declined 1.2% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $232.81.

International Assets Investment Management LLC acquired a new stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,196 shares of the business services provider's stock, valued at approximately $1,661,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP lifted its stake in shares of Booking by 1,615.6% in the 2nd quarter. Allworth Financial LP now owns 13,931 shares of the business services provider's stock valued at $2,483,000 after purchasing an additional 13,119 shares during the period. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Booking in the 2nd quarter valued at $11,687,000. MBM Wealth Consultants LLC raised its stake in Booking by 2,860.8% during the 2nd quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider's stock worth $2,238,000 after buying an additional 12,130 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Booking by 2,549.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 88,949 shares of the business services provider's stock valued at $16,077,000 after acquiring an additional 85,592 shares during the period. Finally, Venture Visionary Partners LLC grew its stake in Booking by 53.3% in the third quarter. Venture Visionary Partners LLC now owns 61,803 shares of the business services provider's stock valued at $10,068,000 after acquiring an additional 21,496 shares during the period. Institutional investors and hedge funds own 92.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BKNG. DA Davidson set a $240.00 price objective on Booking in a report on Thursday, August 6th. Oppenheimer reissued an "outperform" rating and set a $240.00 target price (up from $215.00) on shares of Booking in a research note on Wednesday, August 5th. Argus raised their target price on shares of Booking from $210.00 to $245.00 and gave the stock a "buy" rating in a report on Monday, August 10th. UBS Group cut their price target on shares of Booking from $274.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Weiss Ratings cut shares of Booking from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday. Three 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $232.81.

Booking Stock Up 1.2%

BKNG stock opened at $155.67 on Wednesday. The business has a 50 day moving average price of $168.99 and a two-hundred day moving average price of $176.70. The company has a market cap of $116.97 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 0.96 and a beta of 1.17. Booking Holdings Inc. has a twelve month low of $146.28 and a twelve month high of $220.81.

Booking (NASDAQ:BKNG - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share for the quarter, topping analysts' consensus estimates of $4.49 by $0.17. The business had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.55 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $99.50 earnings per share. On average, equities research analysts anticipate that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 14,000 shares in the company, valued at approximately $2,800,000. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of Booking stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $203.48, for a total transaction of $610,440.00. Following the sale, the insider directly owned 73,400 shares of the company's stock, valued at $14,935,432. The trade was a 3.93% 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. Over the last quarter, insiders have sold 77,425 shares of company stock valued at $16,004,164. 0.17% of the stock is owned by insiders.

Key Stories Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking reported earnings of $4.66 per share, above analysts’ estimates of about $4.48–$4.49. Earnings coverage also pointed to growth in adjusted revenue, suggesting underlying operations performed better than the GAAP figures imply. Booking Holdings tops Q3 earnings estimates
• Neutral Sentiment: UBS lowered its price target to $265 from $274 but kept a Buy rating, signaling continued optimism while trimming its expectations. UBS rating and price target
• Negative Sentiment: A roughly $900 million FTC-related charge weighed on reported revenue. One report put GAAP revenue down about 1% year over year, despite growth in adjusted revenue, making the headline results look weaker. Reuters report on the FTC-related charge
• Negative Sentiment: Reports cited global conflicts weighing on travel demand and warned that growth could stall in the fourth quarter. That outlook may temper the market’s response to the earnings beat. Booking profit and sales report

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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