Insider Selling: Booking (NASDAQ:BKNG) Director Sells 1,000 Shares

Key Points

• Booking director Robert Mylod Jr. sold 1,000 shares at an average price of $206.70, reducing his direct ownership by 6.25% to 15,000 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Booking’s latest quarterly results exceeded expectations, with EPS of $2.54 versus $2.43 expected and revenue of $7.35 billion versus $7.19 billion forecast; revenue rose 8.1% year over year.
• The company declared a quarterly dividend of $0.42 per share, equivalent to a 0.8% annualized yield, while analysts maintain a “Moderate Buy” consensus and a $234.69 average price target.

Booking Holdings Inc. (NASDAQ:BKNG - Get Free Report) Director Robert Mylod, Jr. sold 1,000 shares of Booking stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total transaction of $206,700.00. Following the completion of the transaction, the director directly owned 15,000 shares of the company's stock, valued at $3,100,500. The trade was a 6.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Booking Price Performance

Shares of NASDAQ BKNG traded up $0.37 during mid-day trading on Thursday, hitting $207.39. 6,747,979 shares of the company's stock traded hands, compared to its average volume of 8,600,265. The company's 50-day moving average is $177.73 and its two-hundred day moving average is $176.76. The company has a market capitalization of $160.70 billion, a P/E ratio of 22.95, a PEG ratio of 1.22 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.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating analysts' consensus estimates of $2.43 by $0.11. The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 120.96%. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $55.40 EPS. Equities analysts anticipate that Booking Holdings Inc. will post 10.43 EPS for the current fiscal year.

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking's dividend payout ratio (DPR) is presently 22.11%.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Q2 results exceeded expectations: Booking reported adjusted EPS of $2.54 versus the $2.43 consensus and revenue of $7.35 billion versus $7.19 billion expected. Revenue increased 8.1% year over year, with room nights, gross bookings and EBITDA reportedly beating guidance. Booking Holdings Q2 results top estimates as travel demand remains resilient
• Positive Sentiment: Analysts raised targets: UBS lifted its price target from $266 to $274 and maintained a Buy rating, while Wedbush raised its target from $211 to $247 and upgraded its outlook to Outperform. Benchmark also increased its target from $220 to $250 with a Buy rating. Booking Holdings Given New $274 Price Target at UBS Group
• Positive Sentiment: Travel demand remains resilient: Strong domestic and regional travel helped offset pressure on long-haul international bookings and concerns related to Middle East volatility. Management also highlighted early benefits from AI-driven personalization, connected-trip initiatives and cost savings. Booking Holdings Stock Surges on Better-Than-Expected Results
• Positive Sentiment: Shareholder return: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The dividend provides a modest 0.8% annualized yield.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group increased their price target on Booking from $266.00 to $274.00 and gave the company a "buy" rating in a report on Wednesday. Oppenheimer reaffirmed an "outperform" rating and set a $240.00 price objective (up from $215.00) on shares of Booking in a research note on Wednesday. Barclays set a $210.00 price objective on shares of Booking and gave the company an "overweight" rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $230.00 target price on shares of Booking in a research note on Wednesday. Finally, Cantor Fitzgerald lifted their price target on shares of Booking from $175.00 to $220.00 and gave the stock a "neutral" rating in a research note on Wednesday. One equities 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.69.

Hedge Funds Weigh In On Booking

Several hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in shares of Booking during the second quarter valued at $1,370,455,000. J. Stern & Co. LLP increased its stake in Booking by 191,965.8% in the 4th quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider's stock worth $15,171,489,000 after buying an additional 2,831,495 shares during the period. Bank of Nova Scotia lifted its holdings in Booking by 1,497.3% during the 1st quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider's stock valued at $3,665,168,000 after buying an additional 816,022 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Booking by 66,209.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 659,783 shares of the business services provider's stock valued at $117,600,000 after buying an additional 658,788 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Booking by 2,548.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 649,602 shares of the business services provider's stock valued at $115,785,000 after buying an additional 625,076 shares during the period. Institutional investors own 92.42% of the company's stock.

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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