Cardano Risk Management B.V. boosted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 2,215.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 478,757 shares of the business services provider’s stock after buying an additional 458,084 shares during the period. Cardano Risk Management B.V. owned approximately 0.06% of Booking worth $85,334,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. J. Stern & Co. LLP grew its stake in shares of Booking by 191,965.8% in the fourth quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock worth $15,171,489,000 after acquiring an additional 2,831,495 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Booking by 1,497.3% during the first quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider’s stock valued at $3,665,168,000 after acquiring an additional 816,022 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Booking by 66,209.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 659,783 shares of the business services provider’s stock worth $117,600,000 after purchasing an additional 658,788 shares during the last quarter. Norges Bank purchased a new position in shares of Booking in the 4th quarter worth about $3,271,041,000. Finally, Czech National Bank boosted its stake in Booking by 2,412.4% in the 2nd quarter. Czech National Bank now owns 220,560 shares of the business services provider’s stock worth $39,313,000 after purchasing an additional 211,781 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Insider Transactions at Booking
In related news, Director Vanessa Ames Wittman sold 1,125 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total value of $216,000.00. Following the transaction, the director owned 16,508 shares of the company’s stock, valued at approximately $3,169,536. This trade represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 firm’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 transaction of $10,229,375.00. Following the completion of the transaction, the vice president directly owned 425,075 shares in the company, valued at approximately $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. Insiders have sold 69,625 shares of company stock worth $11,652,075 in the last quarter. Company insiders own 0.17% of the company’s stock.
More Booking News
- Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
- Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
- Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
- Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
- Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
- Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking
Booking Price Performance
Shares of BKNG opened at $214.42 on Friday. The firm has a market capitalization of $161.11 billion, a P/E ratio of 23.73, a PEG ratio of 1.31 and a beta of 1.07. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $231.80. The business has a fifty day moving average of $179.43 and a 200 day moving average of $176.56.
Booking (NASDAQ:BKNG – Get Free Report) last posted its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.Booking’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $55.40 earnings per share. Analysts expect that Booking Holdings Inc. will post 10.43 EPS for the current fiscal year.
Booking Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given 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 dividend yield of 0.8%. Booking’s dividend payout ratio is presently 18.58%.
Wall Street Analyst Weigh In
Several analysts recently commented on BKNG shares. JPMorgan Chase & Co. cut their price objective on shares of Booking from $224.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $230.00 target price on shares of Booking in a report on Wednesday. Argus set a $210.00 target price on shares of Booking and gave the stock a “buy” rating in a research note on Thursday, July 9th. Royal Bank Of Canada cut their price target on shares of Booking from $244.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Finally, Susquehanna reiterated a “positive” rating and set a $240.00 price target on shares of Booking in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.69.
Read Our Latest Analysis on BKNG
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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