Royal Bank of Canada Reduces Holdings in Booking Holdings Inc. $BKNG

Royal Bank of Canada trimmed its holdings in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,624 shares of the business services provider's stock after selling 19,795 shares during the period. Royal Bank of Canada's holdings in Booking were worth $537,336,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Daytona Street Capital LLC bought a new stake in Booking in the fourth quarter valued at about $27,000. Legacy Bridge LLC bought a new position in Booking during the 4th quarter worth approximately $27,000. Camelot Portfolios LLC acquired a new position in shares of Booking in the 4th quarter worth approximately $27,000. Osbon Capital Management LLC bought a new stake in shares of Booking in the 4th quarter valued at approximately $27,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of Booking in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Booking Stock Up 6.7%

Booking stock opened at $199.31 on Wednesday. The stock has a market cap of $154.44 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.12 and a beta of 1.07. The company's fifty day simple moving average is $173.51 and its 200-day simple moving average is $177.58. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $231.80.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.06. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The business had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the firm earned $0.99 EPS. Booking's revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities research analysts expect that Booking Holdings Inc. will post 10.44 earnings per share for the current fiscal year.

Insider Transactions at Booking

In other Booking news, VP Peter J. Millones sold 62,500 shares of the 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 in the company, valued at $69,572,025.25. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.17% of the stock is owned by insiders.

Key Headlines Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Long-term growth appeal: A Zacks analysis identifies Booking Holdings as a potentially attractive growth stock, supporting investor interest in the company’s ability to generate market-beating returns over time. Why Booking Holdings Is a Top Growth Stock for the Long-Term
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased 21,239 BKNG call options, about 31% above the typical daily volume. This suggests increased speculative optimism, although options activity alone does not guarantee sustained buying in the stock.
• Positive Sentiment: Travel demand remains healthy: Search data from KAYAK, a Booking Holdings brand, showed French families continuing to plan summer travel, particularly short-haul beach and holiday trips. The data provides a modestly positive signal for demand across Booking’s travel ecosystem. KAYAK Summer Travel Search Data
• Neutral Sentiment: Upcoming earnings are the next major catalyst: Wall Street expects earnings growth in Booking’s report next week, but analysts note the company lacks the combination of factors that typically supports a likely earnings beat. Investors may therefore remain cautious until the company provides updated guidance and results. Booking Holdings Reports Next Week
• Negative Sentiment: Competitive pressure: Bank of America launched a broad travel center powered by Rocket Travel by Agoda, offering nearly one million travel options. The expanded Agoda-backed platform could increase competition for Booking’s hotel, flight and activity bookings. Bank of America Launches Travel Center

Wall Street Analysts Forecast Growth

BKNG has been the subject of several research reports. Gordon Haskett lifted their price target on shares of Booking from $217.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Piper Sandler set a $195.00 price target on shares of Booking in a research report on Wednesday, April 29th. Citigroup reaffirmed a "market perform" rating on shares of Booking in a report on Tuesday. DA Davidson reduced their target price on shares of Booking from $240.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Finally, Tigress Financial reissued a "strong-buy" rating and set a $260.00 price target (up from $244.00) on shares of Booking in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $227.05.

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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