Summit Financial LLC Lowers Position in Booking Holdings Inc. $BKNG

Key Points

• Summit Financial LLC has reduced its stake in Booking Holdings Inc. (BKNG) by 23.3% in the first quarter, now holding 297 shares valued at approximately $1.37 million.
• In contrast, other institutional investors significantly increased their positions in BKNG, with GAMMA Investing LLC raising its stake by an extraordinary 521,609.7% during the same period.
• Booking recently announced a quarterly dividend of $9.60 per share, payable on September 30, with a 0.7% yield based on an annualized payout ratio of 26.71%.

Summit Financial LLC reduced its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 23.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 297 shares of the business services provider's stock after selling 90 shares during the quarter. Summit Financial LLC's holdings in Booking were worth $1,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BKNG. GAMMA Investing LLC raised its position in Booking by 521,609.7% in the 1st quarter. GAMMA Investing LLC now owns 2,363,345 shares of the business services provider's stock valued at $10,887,718,000 after buying an additional 2,362,892 shares during the last quarter. Pacer Advisors Inc. raised its position in Booking by 1,411.9% in the 1st quarter. Pacer Advisors Inc. now owns 112,201 shares of the business services provider's stock valued at $516,900,000 after buying an additional 104,780 shares during the last quarter. TD Asset Management Inc grew its stake in Booking by 182.2% in the 1st quarter. TD Asset Management Inc now owns 104,643 shares of the business services provider's stock valued at $482,081,000 after purchasing an additional 67,562 shares during the period. Northern Trust Corp grew its stake in Booking by 18.8% in the 4th quarter. Northern Trust Corp now owns 368,628 shares of the business services provider's stock valued at $1,831,499,000 after purchasing an additional 58,357 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in Booking by 127.3% in the 4th quarter. Voloridge Investment Management LLC now owns 81,785 shares of the business services provider's stock valued at $406,342,000 after purchasing an additional 45,808 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Booking news, CEO Glenn D. Fogel sold 1,013 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $5,476.89, for a total value of $5,548,089.57. Following the completion of the transaction, the chief executive officer owned 24,620 shares in the company, valued at $134,841,031.80. This trade represents a 3.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 4,052 shares of company stock valued at $22,511,858. 0.16% of the stock is owned by company insiders.

Booking Stock Performance

BKNG stock opened at $5,720.87 on Friday. The company has a market capitalization of $185.41 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 1.65 and a beta of 1.41. Booking Holdings Inc. has a fifty-two week low of $3,700.97 and a fifty-two week high of $5,839.41. The stock has a fifty day moving average of $5,577.51 and a 200-day moving average of $5,152.49.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $55.40 earnings per share for the quarter, topping the consensus estimate of $50.32 by $5.08. The company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.54 billion. Booking had a negative return on equity of 134.19% and a net margin of 19.23%.The firm's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $41.90 EPS. Booking has set its Q3 2025 guidance at EPS. Equities analysts predict that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $9.60 dividend. The ex-dividend date is Friday, September 5th. This represents a $38.40 annualized dividend and a yield of 0.7%. Booking's dividend payout ratio (DPR) is currently 26.71%.

Analyst Ratings Changes

A number of research analysts have issued reports on BKNG shares. DA Davidson upped their price objective on Booking from $5,750.00 to $6,500.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. B. Riley restated a "buy" rating and issued a $6,700.00 price objective (up previously from $6,100.00) on shares of Booking in a research note on Wednesday, July 30th. UBS Group upped their price objective on Booking from $5,750.00 to $6,300.00 and gave the company a "buy" rating in a research note on Monday, July 28th. JMP Securities upped their price objective on Booking from $5,600.00 to $5,700.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 30th. Finally, Bank of America upped their price objective on Booking from $5,820.00 to $5,850.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5,781.04.

Booking Profile

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.

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