Gateway Investment Advisers LLC lifted its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 248.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,297 shares of the business services provider’s stock after buying an additional 16,617 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Booking were worth $4,152,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BKNG. Brighton Jones LLC raised its stake in Booking by 34.9% during the 4th quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock valued at $1,249,000 after acquiring an additional 65 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Booking during the 4th quarter worth approximately $209,000. Sivia Capital Partners LLC grew its stake in shares of Booking by 25.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 165 shares of the business services provider’s stock valued at $955,000 after purchasing an additional 33 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Booking by 50.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 87 shares of the business services provider’s stock valued at $504,000 after purchasing an additional 29 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Booking in the second quarter valued at approximately $179,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Insider Activity at Booking
In related news, VP Peter J. Millones sold 62,500 shares of Booking stock in a transaction 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 of the company’s stock, valued at approximately $69,572,025.25. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the sale, the director owned 16,508 shares in the company, valued at approximately $3,169,536. The trade was a 6.38% decrease in their ownership of the stock. 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 sold 69,625 shares of company stock valued at $11,652,075 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.
Booking Price Performance
Booking (NASDAQ:BKNG – Get Free Report) last issued its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period last year, the company posted $55.40 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts expect that Booking Holdings Inc. will post 10.47 earnings per share for the current fiscal year.
Booking Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s dividend payout ratio (DPR) is presently 18.58%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on BKNG shares. Truist Financial set a $242.00 price target on Booking in a research note on Wednesday, August 5th. Wells Fargo & Company set a $220.00 price objective on shares of Booking and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Benchmark boosted their price objective on shares of Booking from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Oppenheimer restated an “outperform” rating and set a $240.00 price objective (up from $215.00) on shares of Booking in a research report on Wednesday, August 5th. Finally, Wedbush raised their target price on shares of Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a research note 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $235.72.
Get Our Latest Report on Booking
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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