The Manufacturers Life Insurance Company Sells 5,630 Shares of Booking Holdings Inc. $BKNG

Key Points

• The Manufacturers Life Insurance Company cut its Booking Holdings stake by 19.7%, selling 5,630 shares and retaining 22,908 shares valued at approximately $96.4 million. Institutional investors collectively own 92.42% of BKNG, while a company vice president also sold 62,500 shares under a pre-arranged trading plan.
• Analysts maintain a generally positive outlook, with Booking rated “Moderate Buy” and an average price target of $227.05; individual targets range from $208 to $220 in the latest updates.
• Booking exceeded quarterly expectations, reporting $1.14 in adjusted EPS versus $1.08 expected and $5.53 billion in revenue, up 16.2% year over year. Shares opened at $199.31, below the 52-week high of $231.80.

The Manufacturers Life Insurance Company lowered its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,908 shares of the business services provider's stock after selling 5,630 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Booking were worth $96,447,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, VP Peter J. Millones sold 62,500 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

BKNG has been the topic of a number of research reports. Citigroup reaffirmed a "market perform" rating on shares of Booking in a research note on Tuesday. Barclays set a $210.00 target price on Booking and gave the company an "overweight" rating in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Booking from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 29th. Gordon Haskett boosted their price target on shares of Booking from $217.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, 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. One investment 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 company currently has an average rating of "Moderate Buy" and an average price target of $227.05.

Booking Price Performance

Shares of BKNG stock opened at $199.31 on Wednesday. The company has a market cap of $154.44 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 1.12 and a beta of 1.07. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $231.80. The stock's 50 day simple moving average is $173.51 and its two-hundred day simple moving average is $177.58.

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

Key Stories 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

Booking Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.