Franklin Street Advisors Inc. NC increased its stake in Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 2,455.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,450 shares of the business services provider’s stock after purchasing an additional 3,315 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Booking were worth $615,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Bridge LLC bought a new position in shares of Booking in the 4th quarter worth $27,000. Camelot Portfolios LLC bought a new stake in shares of Booking during the 4th quarter worth $27,000. Osbon Capital Management LLC purchased a new position in Booking in the fourth quarter worth $27,000. Mcguire Capital Advisors Inc. purchased a new position in Booking in the fourth quarter worth $27,000. Finally, Strive Asset Management LLC bought a new position in Booking in the third quarter valued at $27,000. 92.42% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
BKNG has been the topic of a number of research reports. Gordon Haskett raised their price target on Booking from $217.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wedbush upped their price objective on Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Royal Bank Of Canada reduced their price objective on Booking from $244.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Piper Sandler reissued a “neutral” rating and set a $215.00 price objective (up from $195.00) on shares of Booking in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $230.00 target price on shares of Booking in a research report on Wednesday. One 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, Booking presently has a consensus rating of “Moderate Buy” and an average target price of $234.69.
Booking Price Performance
NASDAQ BKNG opened at $214.42 on Monday. The company has a 50-day simple moving average of $179.43 and a two-hundred day simple moving average of $176.36. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $231.80. The firm has a market cap of $161.11 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.30 and a beta of 1.07.
Booking (NASDAQ:BKNG – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping the consensus estimate of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the business earned $55.40 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts expect that Booking Holdings Inc. will post 10.43 earnings per share for the current fiscal year.
Booking Announces Dividend
The business 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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s payout ratio is 18.58%.
More Booking News
Here are the key news stories impacting Booking this week:
- 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
Insiders Place Their Bets
In other Booking news, Director Robert J. Mylod, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $200.00, for a total value 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. The trade was a 23.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the 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 sale, the director directly owned 16,508 shares of the company’s stock, valued at approximately $3,169,536. This trade represents a 6.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 69,625 shares of company stock valued at $11,652,075 in the last ninety days. Company insiders own 0.17% of the company’s stock.
About Booking
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.
Featured Articles
- Five stocks we like better than Booking
- Albemarle’s Blowout Quarter Shows Why Lithium Still Matters
- Can DICK’S Turn Foot Locker Into a Winner?
- Why Dutch Bros Plunged Despite a Q2 Earnings Beat and Record Revenue
- Take-Two’s Q1 Results Leave GTA 6 Bulls Stuck in the Fog of War
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).
Receive News & Ratings for Booking Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Booking and related companies with MarketBeat.com's FREE daily email newsletter.
