Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 1,419.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,784 shares of the business services provider’s stock after purchasing an additional 3,535 shares during the quarter. Booking comprises 0.8% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 19th biggest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Booking were worth $20,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently modified their holdings of the company. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Booking in the third quarter valued at approximately $26,000. Daytona Street Capital LLC purchased a new stake in shares of Booking in the fourth quarter valued at approximately $27,000. Legacy Bridge LLC purchased a new stake in shares of Booking in the fourth quarter valued at approximately $27,000. Camelot Portfolios LLC purchased a new stake in Booking during the fourth quarter worth $27,000. Finally, Strive Asset Management LLC purchased a new stake in Booking during the third quarter worth $27,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently commented on BKNG. HSBC decreased their price objective on shares of Booking from $309.84 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Robert W. Baird decreased their price objective on shares of Booking from $234.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. The Goldman Sachs Group decreased their price objective on shares of Booking from $226.00 to $223.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. TD Cowen reiterated a “buy” rating and issued a $230.00 price objective (down from $240.00) on shares of Booking in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group reduced their price objective on Booking from $224.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.14.
Insider Activity at Booking
In related news, Director Vanessa Ames Wittman sold 1,125 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the transaction, the director directly owned 16,050 shares in the company, valued at approximately $3,081,600. This represents a 6.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 97,076 shares of company stock worth $16,417,121. 0.16% of the stock is currently owned by insiders.
Booking Stock Up 1.6%
Shares of NASDAQ:BKNG opened at $167.48 on Friday. Booking Holdings Inc. has a 52-week low of $150.14 and a 52-week high of $233.58. The stock’s fifty day simple moving average is $169.90 and its 200-day simple moving average is $185.50. The company has a market capitalization of $129.78 billion, a P/E ratio of 22.03, a P/E/G ratio of 0.98 and a beta of 1.08.
Booking (NASDAQ:BKNG – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. The business had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.52 billion. Booking had a negative return on equity of 117.14% and a net margin of 22.23%.The business’s revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 earnings per share. On average, sell-side analysts anticipate that Booking Holdings Inc. will post 10.44 earnings per share for the current year.
Booking Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, June 5th. Booking’s dividend payout ratio is presently 22.11%.
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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