Syon Capital LLC Has $1.69 Million Stake in Booking Holdings Inc. $BKNG

Key Points

• Syon Capital increased its Booking Holdings stake by 2,227.9% in the second quarter, bringing its holdings to 9,498 shares valued at approximately $1.69 million. Institutional investors collectively own 92.42% of the company.
• Analysts maintain a bullish outlook, with Booking receiving a consensus “Moderate Buy” rating and an average price target of $236.70, above its reported share price of $193.29.
• Booking exceeded quarterly expectations, reporting $2.54 in EPS and $7.35 billion in revenue, while revenue rose 8.1% year over year. The company also declared a quarterly dividend of $0.42 per share, equivalent to a 0.9% yield.

Syon Capital LLC raised its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,227.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,498 shares of the business services provider's stock after purchasing an additional 9,090 shares during the period. Syon Capital LLC's holdings in Booking were worth $1,693,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. denkapparat Operations GmbH increased its stake in shares of Booking by 1,189.1% in the second quarter. denkapparat Operations GmbH now owns 3,326 shares of the business services provider's stock valued at $593,000 after buying an additional 3,068 shares during the period. TD Waterhouse Canada Inc. raised its position in shares of Booking by 666.6% during the second quarter. TD Waterhouse Canada Inc. now owns 35,002 shares of the business services provider's stock worth $6,395,000 after acquiring an additional 30,436 shares during the last quarter. Premier Path Wealth Partners LLC lifted its stake in shares of Booking by 2,071.1% in the second quarter. Premier Path Wealth Partners LLC now owns 5,406 shares of the business services provider's stock worth $964,000 after acquiring an additional 5,157 shares during the period. United Community Bank lifted its stake in shares of Booking by 2,286.4% in the second quarter. United Community Bank now owns 1,575 shares of the business services provider's stock worth $281,000 after acquiring an additional 1,509 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in Booking by 4,059.8% in the second quarter. Concurrent Investment Advisors LLC now owns 17,055 shares of the business services provider's stock valued at $3,040,000 after acquiring an additional 16,645 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. DA Davidson set a $240.00 target price on shares of Booking in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Booking in a research note on Wednesday, August 5th. Wedbush increased their price objective on shares of Booking from $211.00 to $247.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Evercore reissued an "outperform" rating and set a $270.00 target price on shares of Booking in a research note on Monday, August 24th. Finally, UBS Group boosted their target price on shares of Booking from $266.00 to $274.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $236.70.

Booking Stock Down 0.9%

Shares of BKNG stock opened at $193.29 on Friday. The company has a market cap of $145.23 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $226.10. The firm has a 50 day moving average of $194.31 and a 200-day moving average of $178.43.

Booking (NASDAQ:BKNG - Get Free Report) last released its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the company earned $55.40 EPS. Booking's quarterly revenue was up 8.1% compared to the same quarter last year. Analysts anticipate that Booking Holdings Inc. will post 10.48 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 paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 11th. Booking's payout ratio is 18.58%.

Insider Transactions at Booking

In other news, insider Paulo Pisano sold 3,000 shares of the firm's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $203.48, for a total value of $610,440.00. Following the completion of the sale, the insider directly owned 73,400 shares in the company, valued at $14,935,432. This trade represents a 3.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the sale, the director owned 14,000 shares of the company's stock, valued at approximately $2,800,000. This represents a 6.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 81,550 shares of company stock valued at $16,922,744. 0.17% of the stock is owned by insiders.

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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