Trust Asset Management LLC Purchases 8,591 Shares of Booking Holdings Inc. $BKNG

Key Points

• Trust Asset Management LLC increased its Booking Holdings stake by 2,340.9%, purchasing 8,591 additional shares to hold 8,958 shares valued at approximately $1.6 million. Institutional investors own 92.42% of the company.
• Analysts maintain a favorable outlook, with Booking receiving a consensus “Moderate Buy” rating and an average price target of $235.72. The company also exceeded quarterly estimates, reporting $2.54 in EPS and $7.35 billion in revenue, up 8.1% year over year.
• Booking declared a quarterly dividend of $0.42 per share, representing a 0.8% annualized yield. Meanwhile, insiders sold 69,625 shares worth approximately $11.65 million over the past three months.

Trust Asset Management LLC lifted its holdings in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,340.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,958 shares of the business services provider's stock after buying an additional 8,591 shares during the period. Trust Asset Management LLC's holdings in Booking were worth $1,597,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BKNG. Equity Wealth Partners LLC boosted its position in Booking by 2.0% in the fourth quarter. Equity Wealth Partners LLC now owns 101 shares of the business services provider's stock worth $543,000 after purchasing an additional 2 shares during the last quarter. BLB&B Advisors LLC increased its position in shares of Booking by 4.0% during the 4th quarter. BLB&B Advisors LLC now owns 52 shares of the business services provider's stock valued at $278,000 after purchasing an additional 2 shares during the last quarter. MBM Wealth Consultants LLC increased its position in shares of Booking by 0.5% during the 4th quarter. MBM Wealth Consultants LLC now owns 403 shares of the business services provider's stock valued at $2,158,000 after purchasing an additional 2 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Booking by 0.3% during the 4th quarter. Whittier Trust Co. now owns 642 shares of the business services provider's stock worth $3,434,000 after purchasing an additional 2 shares during the period. Finally, Bigelow Investment Advisors LLC boosted its holdings in shares of Booking by 1.8% in the 4th quarter. Bigelow Investment Advisors LLC now owns 112 shares of the business services provider's stock worth $600,000 after buying an additional 2 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BKNG. HSBC reduced their price target on shares of Booking from $309.84 to $298.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. B. Riley Financial restated a "buy" rating and set a $274.00 price target (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. Oppenheimer restated an "outperform" rating and issued a $240.00 price objective (up from $215.00) on shares of Booking in a research note on Wednesday, August 5th. The Goldman Sachs Group set a $215.00 target price on shares of Booking and gave the stock a "neutral" rating in a research note on Monday, July 20th. Finally, Wedbush boosted their price target on shares of Booking from $211.00 to $247.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $235.72.

Insider Transactions at Booking

In other news, Director Vanessa Ames Wittman sold 1,125 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total transaction of $216,000.00. Following the transaction, the director directly owned 16,508 shares in the company, valued at approximately $3,169,536. This represents a 6.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the business's stock in a transaction that occurred 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 owned 425,075 shares of the company's stock, valued at $69,572,025.25. The trade was a 12.82% 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. In the last three months, insiders sold 69,625 shares of company stock worth $11,652,075. 0.17% of the stock is currently owned by corporate insiders.

Booking Trading Down 0.3%

Shares of NASDAQ BKNG opened at $212.26 on Thursday. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $231.80. The firm has a market capitalization of $159.49 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 1.28 and a beta of 1.07. The business has a 50-day moving average of $182.16 and a 200-day moving average of $176.92.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.11. The business had revenue of $7.35 billion during the quarter, compared to analysts' expectations of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $55.40 EPS. On average, analysts predict that Booking Holdings Inc. will post 10.47 earnings per share for the current year.

Booking Announces Dividend

The company 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 dividend of $0.42 per share. 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 payout ratio is 18.58%.

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.

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