Wealthfront Advisers LLC Purchases New Stake in Booking Holdings Inc. $BKNG

Key Points

• Wealthfront Advisers purchased a new 57,639-share stake in Booking Holdings valued at approximately $10.3 million. Institutional investors collectively own 92.42% of BKNG.
• Booking reported quarterly revenue of $7.35 billion, up 8.1% year over year, and earnings per share of $2.54, exceeding analyst expectations. The stock recently traded at $213, while analysts maintain a “Moderate Buy” consensus and an average price target of $235.72.
• Booking declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and an approximately 0.8% yield. Insiders sold shares during the quarter, but the transactions were executed under pre-arranged Rule 10b5-1 plans.

Wealthfront Advisers LLC purchased a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 57,639 shares of the business services provider's stock, valued at approximately $10,274,000.

Several other institutional investors have also recently bought and sold shares of BKNG. Bogart Wealth LLC lifted its position in Booking by 3,475.0% in the 2nd quarter. Bogart Wealth LLC now owns 143 shares of the business services provider's stock valued at $25,000 after acquiring an additional 139 shares in the last quarter. Wilkerson Advisory Group LLC lifted its holdings in shares of Booking by 3,550.0% in the second quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider's stock valued at $26,000 after purchasing an additional 142 shares in the last quarter. Camelot Portfolios LLC bought a new position in shares of Booking in the fourth quarter valued at approximately $27,000. Osbon Capital Management LLC purchased a new position in shares of Booking during the fourth quarter valued at approximately $27,000. Finally, First Financial Corp IN boosted its position in shares of Booking by 2,400.0% during the second quarter. First Financial Corp IN now owns 150 shares of the business services provider's stock valued at $27,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Booking Trading Up 2.3%

Shares of Booking stock opened at $213.00 on Thursday. The business's fifty day simple moving average is $186.78 and its 200 day simple moving average is $177.12. The firm has a market capitalization of $160.04 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $231.80.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $7.35 billion for the quarter, compared to analysts' expectations of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The business's revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $55.40 earnings per share. Analysts predict that Booking Holdings Inc. will post 10.47 EPS for the current fiscal year.

Booking Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BKNG. Barclays set a $210.00 price target on Booking and gave the company an "overweight" rating in a research report on Wednesday, April 29th. TD Cowen reaffirmed a "buy" rating and set a $230.00 price objective (down from $240.00) on shares of Booking in a report on Wednesday, April 29th. B. Riley Financial reiterated a "buy" rating and issued a $274.00 target price (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. Susquehanna reiterated a "positive" rating and issued a $240.00 target price on shares of Booking in a report on Thursday, August 6th. Finally, Mizuho set a $240.00 price target on shares of Booking in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Booking currently has a consensus rating of "Moderate Buy" and an average target price of $235.72.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s KAYAK brand reported that international airfares for U.K. travelers in September and October are averaging 26% below peak-season levels. Cheaper “shoulder-season” travel could encourage additional bookings and support demand across Booking’s accommodation and travel platforms. KAYAK shoulder-season travel research
• Positive Sentiment: Recent fundamentals remain supportive. Booking’s latest quarterly revenue rose 8.1% year over year to $7.35 billion and earnings exceeded analyst expectations. Analysts maintain a broadly favorable view, with a “Moderate Buy” consensus and an average price target of $235.72, above recent trading levels. Booking growth-stock analysis
• Neutral Sentiment: Booking declared a quarterly dividend of $0.42 per share, or $1.68 annually, representing an approximately 0.8% yield. The payout signals ongoing shareholder returns but is modest and is unlikely to materially affect the stock’s near-term direction.
• Negative Sentiment: Booking Vice President Peter Millones sold 50,050 shares worth approximately $10.4 million, reducing his position by 11.77%. Director Vanessa Ames Wittman separately sold 375 shares for about $79,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as bearish signals; Millones still retains roughly $77.9 million in BKNG stock. Booking insider share sales

Insider Activity at Booking

In related news, Director Robert J. Mylod, Jr. sold 5,000 shares of the firm's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the director owned 16,000 shares in the company, valued at approximately $3,200,000. This trade represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 stock was sold at an average price of $192.00, for a total transaction of $216,000.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 140,050 shares of company stock valued at $26,341,680 over the last quarter. Corporate insiders own 0.17% of the company's stock.

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.

Want to see what other hedge funds are holding BKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Booking Holdings Inc. (NASDAQ:BKNG - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source