Legacy Wealth Asset Management LLC Purchases 9,461 Shares of Booking Holdings Inc. $BKNG

Key Points

• Legacy Wealth Asset Management increased its Booking Holdings stake by 2,543.3% in the second quarter, purchasing 9,461 additional shares and bringing its total holdings to 9,833 shares valued at approximately $1.75 million.
• Booking reported quarterly earnings of $2.54 per share and $7.35 billion in revenue, exceeding analyst expectations, while revenue rose 8.1% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $234.69.
• Booking declared a quarterly dividend of $0.42 per share, but insiders sold 69,625 shares worth $11.65 million over the past 90 days. Investors also face near-term concerns including softer guidance, moderating room-night growth and rising marketing costs.

Legacy Wealth Asset Management LLC lifted its position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,543.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,833 shares of the business services provider's stock after purchasing an additional 9,461 shares during the quarter. Legacy Wealth Asset Management LLC's holdings in Booking were worth $1,753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BKNG. Strive Asset Management LLC bought a new stake in Booking in the third quarter valued at about $27,000. Legacy Bridge LLC bought a new position in Booking during the fourth quarter worth about $27,000. Camelot Portfolios LLC bought a new position in Booking during the fourth quarter worth about $27,000. Swiss RE Ltd. acquired a new stake in Booking during the fourth quarter valued at approximately $27,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Booking during the fourth quarter valued at approximately $27,000. 92.42% of the stock is owned by institutional investors.

Booking Stock Performance

Shares of NASDAQ BKNG opened at $214.42 on Monday. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $231.80. The firm's 50-day moving average is $179.43 and its 200-day moving average is $176.36. The firm has a market capitalization of $161.11 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.07.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the firm posted $55.40 earnings per share. Booking's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Booking Holdings Inc. will post 10.43 earnings per share for the current fiscal year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. Booking's payout ratio is presently 18.58%.

Insider Buying and Selling at Booking

In related news, Director Robert J. Mylod, Jr. sold 1,000 shares of Booking stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total transaction of $206,700.00. Following the completion of the sale, the director directly owned 15,000 shares of the company's stock, valued at $3,100,500. The trade was a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the sale, the vice president owned 425,075 shares of the company's stock, valued at $69,572,025.25. This represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 69,625 shares of company stock worth $11,652,075. Insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BKNG. UBS Group increased their target price on Booking from $266.00 to $274.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Wells Fargo & Company set a $220.00 price target on Booking and gave the company an "equal weight" rating in a research note on Wednesday. Truist Financial set a $242.00 price target on Booking in a research report on Wednesday. DA Davidson set a $240.00 price objective on Booking in a research note on Thursday. Finally, Cantor Fitzgerald boosted their target price on shares of Booking from $175.00 to $220.00 and gave the company a "neutral" rating in a research note 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 given a Hold rating to the company. Based on data from MarketBeat, Booking currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.69.

Key Headlines Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

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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