Mission Wealth Management LP Has $2.21 Million Position in Booking Holdings Inc. $BKNG

Key Points

• Mission Wealth Management increased its Booking Holdings position by 2,695.3% in the second quarter, owning 12,383 shares valued at approximately $2.21 million. Institutional investors collectively hold 92.42% of the company’s stock.
• Analysts maintain a “Moderate Buy” consensus rating, with one Strong Buy, 27 Buys and eight Holds; the average price target is $235.72.
• Booking exceeded quarterly expectations with adjusted earnings of $2.54 per share and revenue of $7.35 billion, while revenue grew 8.1% year over year. The company also declared a quarterly dividend of $0.42 per share, equivalent to a 0.8% annual yield.

Mission Wealth Management LP boosted its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,695.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 12,383 shares of the business services provider's stock after acquiring an additional 11,940 shares during the period. Mission Wealth Management LP's holdings in Booking were worth $2,207,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in BKNG. Life Cycle Investment Partners Ltd purchased a new position in shares of Booking in the 4th quarter valued at approximately $361,463,000. Rit Capital Partners PLC purchased a new stake in Booking in the fourth quarter worth $51,396,000. Eurizon Capital SGR S.p.A. purchased a new stake in Booking in the fourth quarter worth $210,352,000. Cardano Risk Management B.V. raised its holdings in Booking by 862.0% in the fourth quarter. Cardano Risk Management B.V. now owns 218,080 shares of the business services provider's stock worth $1,167,890,000 after purchasing an additional 195,411 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in Booking by 36.7% in the fourth quarter. ProShare Advisors LLC now owns 56,087 shares of the business services provider's stock worth $300,364,000 after purchasing an additional 15,053 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. HSBC dropped their target price on shares of Booking from $309.84 to $298.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Jefferies Financial Group increased their price target on shares of Booking from $180.00 to $190.00 and gave the stock a "hold" rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Booking from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, May 29th. Wells Fargo & Company set a $220.00 price objective on shares of Booking and gave the stock an "equal weight" rating in a research note on Wednesday, August 5th. Finally, Wedbush upped their price objective on shares of Booking from $211.00 to $247.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Booking has a consensus rating of "Moderate Buy" and an average target price of $235.72.

Insiders Place Their Bets

In other Booking news, Director Robert J. Mylod, Jr. sold 5,000 shares of Booking stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total value of $1,000,000.00. Following the completion of the transaction, the director directly owned 16,000 shares of the company's stock, valued at approximately $3,200,000. The trade was a 23.81% decrease in their ownership of the stock. The sale was disclosed in a 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, VP Peter J. Millones sold 62,500 shares of the company'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 completion of the transaction, the vice president owned 425,075 shares in the company, valued at approximately $69,572,025.25. This represents a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 69,625 shares of company stock valued at $11,652,075. Insiders own 0.17% of the company's stock.

Booking Trading Down 0.3%

NASDAQ BKNG opened at $212.26 on Thursday. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $231.80. The stock has a market cap of $159.49 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.28 and a beta of 1.07. The stock's fifty day moving average price is $182.16 and its 200-day moving average price is $176.92.

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 (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.11. The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.Booking's quarterly 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, analysts forecast that Booking Holdings Inc. will post 10.47 earnings per share for the current fiscal year.

Booking Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking's dividend payout ratio (DPR) is currently 18.58%.

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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