Metropolis Capital Ltd Buys 37,507 Shares of Booking Holdings Inc. $BKNG

Key Points

• Metropolis Capital Ltd increased its Booking Holdings stake by 82% in the first quarter, buying 37,507 additional shares and bringing its total position to 83,221 shares valued at about $350,000.
• 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. The company also announced a quarterly dividend of $0.42 per share, or $1.68 annualized, for a 0.9% yield.
• Analyst sentiment remains generally positive, with a consensus Moderate Buy rating and a $227.14 price target, though some firms recently trimmed targets or kept neutral ratings. Meanwhile, insiders have sold shares in recent months, including a large sale by VP Peter J. Millones.

Metropolis Capital Ltd grew its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 82.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,221 shares of the business services provider's stock after buying an additional 37,507 shares during the quarter. Booking accounts for about 0.0% of Metropolis Capital Ltd's investment portfolio, making the stock its 16th biggest holding. Metropolis Capital Ltd's holdings in Booking were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in BKNG. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Booking during the third quarter worth $26,000. Daytona Street Capital LLC acquired a new position in Booking in the 4th quarter worth $27,000. Legacy Bridge LLC acquired a new position in Booking in the 4th quarter worth $27,000. Camelot Portfolios LLC bought a new position in Booking during the 4th quarter worth about $27,000. Finally, Osbon Capital Management LLC bought a new position in Booking during the 4th quarter worth about $27,000. Institutional investors own 92.42% of the company's stock.

Insider Activity at Booking

In other Booking news, VP Peter J. Millones sold 62,500 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the transaction, the vice president owned 425,075 shares of the company's stock, valued at $69,572,025.25. The trade was a 12.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction, the director directly owned 16,050 shares in the company, valued at $3,081,600. This trade represents a 6.55% 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 ninety days, insiders sold 80,351 shares of company stock valued at $13,545,706. Insiders own 0.16% of the company's stock.

Booking Trading Up 2.5%

Shares of BKNG stock opened at $181.46 on Friday. The firm's fifty day moving average price is $169.06 and its two-hundred day moving average price is $182.47. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $233.58. The firm has a market capitalization of $140.61 billion, a P/E ratio of 23.87, a PEG ratio of 1.08 and a beta of 1.08.

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

Booking Dividend Announcement

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

Key Stories Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: BTIG reportedly initiated or reiterated a Buy rating on Booking Holdings, adding to the generally optimistic analyst backdrop. Booking Holdings (BKNG) Gets a Buy from BTIG
• Positive Sentiment: Some investors view the recent selloff as a buying opportunity, arguing that Booking remains a high-quality travel platform with strong cash flow, margins, and fair-to-attractive valuation. Booking Holdings: Selloff May Be More Of An Opportunity Than Warning
• Positive Sentiment: Another bullish note said Booking has a strong earnings track record, leadership in online travel, and potential upside from temporary concerns being overdone. Booking Holdings: Strong Track Record At A Discount
• Positive Sentiment: Booking shares rallied after crude oil prices fell below $70, a move seen as potentially lowering travel costs and boosting booking demand. Booking (BKNG) Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Several articles focused on Wall Street’s generally bullish consensus on Booking, with the average brokerage recommendation at Buy, though the pieces also questioned how useful analyst ratings are as a signal. Is Booking Holdings (BKNG) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: Bernstein was reported to have a Hold rating on BKNG, which may temper some of the more upbeat sentiment around the stock. Booking Holdings (BKNG) Receives a Hold from Bernstein
• Negative Sentiment: Booking also saw a recent one-day decline that outpaced the broader market, reflecting some ongoing volatility after the stock’s earlier run-up. Here’s Why Booking Holdings (BKNG) Fell More Than Broader Market

Analysts Set New Price Targets

A number of analysts have recently commented on BKNG shares. Robert W. Baird cut their price target on Booking from $234.00 to $215.00 and set an "outperform" rating on the stock in a report on Wednesday, April 29th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Booking in a report on Thursday, June 11th. Tigress Financial reiterated a "strong-buy" rating and set a $260.00 price objective (up from $244.00) on shares of Booking in a report on Wednesday, April 8th. Royal Bank Of Canada dropped their target price on Booking from $244.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 29th. Finally, Wall Street Zen cut Booking from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Booking currently has a consensus rating of "Moderate Buy" and a consensus price target of $227.14.

Booking Company 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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