Patron Partners LLC Makes New $970,000 Investment in Booking Holdings Inc. $BKNG

Key Points

• Patron Partners LLC acquired 5,444 Booking Holdings shares worth approximately $970,000 in the second quarter. Institutional investors collectively own 92.42% of the company.
• Booking reported quarterly revenue of $7.35 billion, up 8.1% year over year, and adjusted EPS of $2.54, exceeding analysts’ estimate of $2.43.
• Insiders sold 140,050 shares valued at $26.3 million over the past 90 days, while Wall Street maintained a “Moderate Buy” consensus with an average price target of $235.72.

Patron Partners LLC acquired a new position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,444 shares of the business services provider's stock, valued at approximately $970,000.

A number of other large investors also recently modified their holdings of BKNG. Bogart Wealth LLC increased its stake in Booking by 3,475.0% in the 2nd quarter. Bogart Wealth LLC now owns 143 shares of the business services provider's stock worth $25,000 after buying an additional 139 shares in the last quarter. Wilkerson Advisory Group LLC lifted its position in shares of Booking by 3,550.0% in the second quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider's stock valued at $26,000 after acquiring an additional 142 shares in the last quarter. Camelot Portfolios LLC purchased a new position in shares of Booking in the fourth quarter valued at about $27,000. Osbon Capital Management LLC bought a new position in shares of Booking in the fourth quarter worth about $27,000. Finally, First Financial Corp IN boosted its stake in shares of Booking by 2,400.0% in the second quarter. First Financial Corp IN now owns 150 shares of the business services provider's stock worth $27,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 92.42% of the company's stock.

Insider Buying and Selling at Booking

In related news, Director Vanessa Ames Wittman sold 1,125 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total value of $216,000.00. Following the sale, the director owned 16,508 shares in the company, valued at approximately $3,169,536. The trade was a 6.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 5,000 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the sale, the director directly owned 16,000 shares in the company, valued at approximately $3,200,000. The trade was a 23.81% 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 ninety days, insiders sold 140,050 shares of company stock valued at $26,341,680. 0.17% of the stock is owned by company insiders.

Booking Trading Down 0.1%

Shares of BKNG stock opened at $209.62 on Friday. The stock has a market capitalization of $157.50 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $231.80. The stock's 50-day moving average price is $188.60 and its 200-day moving average price is $177.19.

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

Booking Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BKNG shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $230.00 target price on shares of Booking in a research report on Wednesday, August 5th. Robert W. Baird set a $230.00 price target on Booking in a research note on Wednesday, August 5th. Argus increased their price objective on shares of Booking from $210.00 to $245.00 and gave the company a "buy" rating in a report on Monday, August 10th. Oppenheimer reaffirmed an "outperform" rating and set a $240.00 price objective (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. Finally, B. Riley Financial reiterated a "buy" rating and set a $274.00 price objective (up from $264.00) on shares of Booking in a research 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $235.72.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source