SBI Okasan Asset Management Co.Ltd. Acquires 6,775 Shares of Booking Holdings Inc. $BKNG

Key Points

• SBI Okasan Asset Management increased its Booking Holdings stake by 3,241.6% in the second quarter, purchasing 6,775 additional shares for a total holding valued at approximately $1.27 million. Institutional investors collectively own 92.42% of the company.
• Booking reported quarterly earnings of $2.54 per share, exceeding estimates of $2.43, while revenue rose 8.1% year over year to $7.35 billion. The company also declared a quarterly dividend of $0.42 per share, representing a 0.8% yield.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $235.72 versus the reported share price of $213.34. Meanwhile, insiders sold $15.87 million of stock over the past 90 days, largely through pre-arranged trading plans.

SBI Okasan Asset Management Co.Ltd. boosted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 3,241.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,984 shares of the business services provider's stock after buying an additional 6,775 shares during the period. SBI Okasan Asset Management Co.Ltd.'s holdings in Booking were worth $1,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wilkerson Advisory Group LLC raised its position in shares of Booking by 3,550.0% in the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider's stock worth $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 4th quarter valued at approximately $27,000. Osbon Capital Management LLC acquired a new stake in shares of Booking during the fourth quarter worth $27,000. First Financial Corp IN lifted its position in Booking by 2,400.0% during the 2nd 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. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of Booking during the fourth quarter worth about $27,000. Institutional investors own 92.42% of the company's stock.

Booking Price Performance

Shares of Booking stock opened at $213.34 on Friday. The business has a 50-day moving average of $183.08 and a 200 day moving average of $177.00. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $231.80. The stock has a market capitalization of $160.30 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07.

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

Booking Announces Dividend

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

Insider Buying and Selling

In other Booking news, Director Robert J. Mylod, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total value of $206,700.00. Following the sale, the director owned 15,000 shares of the company's stock, valued at $3,100,500. This trade represents a 6.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of Booking stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the transaction, the director owned 16,508 shares of the company's stock, valued at $3,169,536. The trade was a 6.38% 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. Insiders sold 89,625 shares of company stock worth $15,872,675 over the last 90 days. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BKNG has been the topic of several recent research reports. The Goldman Sachs Group set a $215.00 price target on shares of Booking and gave the company a "neutral" rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $230.00 price target on shares of Booking in a report on Wednesday, August 5th. Sanford C. Bernstein reissued a "market perform" rating on shares of Booking in a report on Thursday, June 11th. JPMorgan Chase & Co. decreased their price target on shares of Booking from $224.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Finally, HSBC dropped their target price on Booking from $309.84 to $298.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. One investment 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $235.72.

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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