OVERSEA CHINESE BANKING Corp Ltd Makes New $1.23 Million Investment in Booking Holdings Inc. $BKNG

Key Points

• Oversea Chinese Banking Corp bought 6,889 Booking Holdings shares worth approximately $1.23 million in the second quarter. Institutional investors collectively own 92.42% of Booking’s stock.
• Booking reported quarterly earnings of $2.54 per share, exceeding estimates, while revenue rose 8.1% year over year to $7.35 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $235.72.
• Booking’s CFO and a director sold shares under pre-arranged Rule 10b5-1 plans; insiders sold 140,050 shares worth $26.34 million over the past 90 days. The company also declared a quarterly dividend of $0.42 per share, yielding 0.8% annually.

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,889 shares of the business services provider's stock, valued at approximately $1,228,000.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. purchased a new position in Booking in the 2nd quarter valued at $11,646,302,000. Deutsche Bank AG acquired a new position in Booking in the 2nd quarter valued at $1,691,186,000. Bank of New York Mellon Corp purchased a new position in Booking during the 2nd quarter worth $1,370,455,000. Vanguard Group Inc. raised its position in Booking by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,997,949 shares of the business services provider's stock worth $16,055,006,000 after buying an additional 23,159 shares during the last quarter. Finally, J. Stern & Co. LLP lifted its stake in shares of Booking by 191,965.8% in the 4th quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider's stock worth $15,171,489,000 after acquiring an additional 2,831,495 shares during the period. Institutional investors and hedge funds own 92.42% of the company's stock.

Insider Activity at Booking

In related news, CFO Ewout L. Steenbergen sold 20,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $206,700.00. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $3,100,500. This represents a 6.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 140,050 shares of company stock valued at $26,341,680 in the last 90 days. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Evercore set a $245.00 target price on shares of Booking in a report on Wednesday, April 29th. Gordon Haskett raised their price objective on shares of Booking from $217.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Royal Bank Of Canada reduced their price objective on shares of Booking from $244.00 to $220.00 and set an "outperform" rating for the company in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Booking in a report on Wednesday, August 5th. Finally, Barclays set a $210.00 target price on Booking and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Booking has a consensus rating of "Moderate Buy" and an average price target of $235.72.

Booking Stock Down 0.1%

NASDAQ:BKNG opened at $209.62 on Friday. The firm's fifty day simple moving average is $188.60 and its 200-day simple moving average is $177.19. The stock has a market cap of $157.50 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $231.80.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating the consensus estimate of $2.43 by $0.11. The firm had revenue of $7.35 billion during the quarter, compared to analysts' expectations of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $55.40 earnings per share. Equities analysts anticipate that Booking Holdings Inc. will post 10.47 earnings per share for the current year.

Booking Dividend Announcement

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