Sapient Capital LLC Purchases 313,541 Shares of Booking Holdings Inc. $BKNG

Key Points

• Sapient Capital sharply increased its Booking Holdings position by purchasing 313,541 shares, bringing its holdings to 319,923 shares valued at approximately $57 million. Institutional investors collectively own 92.42% of BKNG.
• Booking exceeded quarterly expectations, reporting $2.54 in earnings per share and $7.35 billion in revenue, with revenue up 8.1% year over year. Analysts maintain a generally bullish outlook, with a “Moderate Buy” consensus rating and an average price target of $234.69.
• BKNG recently traded at $214.42, while investors remain cautious about softer near-term guidance, moderating room-night growth and rising marketing costs. The company also declared a $0.42 quarterly dividend, representing an annualized yield of approximately 0.8%.

Sapient Capital LLC grew its position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 4,912.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 319,923 shares of the business services provider's stock after purchasing an additional 313,541 shares during the quarter. Booking makes up about 0.7% of Sapient Capital LLC's portfolio, making the stock its 20th largest position. Sapient Capital LLC's holdings in Booking were worth $57,023,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Strive Asset Management LLC acquired a new position in shares of Booking in the 3rd quarter valued at about $27,000. Legacy Bridge LLC acquired a new stake in Booking during the fourth quarter worth approximately $27,000. Camelot Portfolios LLC acquired a new stake in Booking during the fourth quarter worth approximately $27,000. Swiss RE Ltd. bought a new stake in Booking in the fourth quarter worth approximately $27,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in Booking in the fourth quarter worth approximately $27,000. Institutional investors own 92.42% of the company's stock.

Booking Stock Performance

BKNG stock opened at $214.42 on Monday. The stock's 50 day simple moving average is $179.43 and its 200 day simple moving average is $176.36. The company has a market cap of $161.11 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 1.30 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 analysts' consensus estimates 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 negative return on equity of 102.96% and a net margin of 25.53%.The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $55.40 earnings per share. Equities analysts predict that Booking Holdings Inc. will post 10.43 earnings per share for the current year.

Booking Dividend Announcement

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

Key Headlines Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

Analyst Ratings Changes

BKNG has been the topic of several recent analyst reports. Gordon Haskett boosted their price target on Booking from $217.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Mizuho set a $240.00 price objective on shares of Booking in a research report on Wednesday. DA Davidson set a $240.00 price objective on shares of Booking in a research note on Thursday. The Goldman Sachs Group set a $215.00 target price on shares of Booking and gave the company a "neutral" rating in a research report on Monday, July 20th. Finally, Argus set a $210.00 target price on shares of Booking and gave the stock a "buy" rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $234.69.

Insider Activity at Booking

In other Booking news, Director Robert J. Mylod, Jr. sold 1,000 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $206.70, for a total transaction of $206,700.00. Following the transaction, the director owned 15,000 shares in the company, valued at approximately $3,100,500. This represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were 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 directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 69,625 shares of company stock valued at $11,652,075. 0.17% of the stock is owned by company insiders.

About Booking

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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