Mill Capital Management LLC purchased a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) in the second quarter, HoldingsChannel.com reports. The fund purchased 143,681 shares of the business services provider’s stock, valued at approximately $25,610,000. Booking makes up about 1.7% of Mill Capital Management LLC’s investment portfolio, making the stock its 19th biggest position.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BKNG. Brighton Jones LLC grew its holdings in Booking by 34.9% during the 4th quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock worth $1,249,000 after acquiring an additional 65 shares during the period. Revolve Wealth Partners LLC acquired a new position in shares of Booking in the 4th quarter valued at $209,000. Sivia Capital Partners LLC lifted 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 period. Schnieders Capital Management LLC. boosted its position 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 worth $504,000 after purchasing an additional 29 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of Booking in the 2nd quarter worth $179,000. 92.42% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on BKNG shares. Cantor Fitzgerald upped their price objective on Booking from $175.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Gordon Haskett increased their target price on Booking from $217.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. The Goldman Sachs Group set a $215.00 target price on Booking and gave the stock a “neutral” rating in a report on Monday, July 20th. BMO Capital Markets restated an “outperform” rating and set a $250.00 target price (up from $240.00) on shares of Booking in a research report on Wednesday, August 5th. Finally, DA Davidson set a $240.00 price target on Booking in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.72.
Insiders Place Their Bets
In other Booking news, CFO Ewout L. Steenbergen sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the sale, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. This trade represents a 25.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 sale, the vice president owned 425,075 shares in the company, valued at $69,572,025.25. This trade represents a 12.82% 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. Over the last quarter, insiders have sold 89,625 shares of company stock worth $15,872,675. Company insiders own 0.17% of the company’s stock.
Booking Price Performance
BKNG opened at $212.06 on Monday. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $231.80. The company has a fifty day simple moving average of $184.00 and a 200 day simple moving average of $176.65. The stock has a market cap of $159.34 billion, a P/E ratio of 23.47, a P/E/G ratio of 1.28 and a beta of 1.07.
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, 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 analyst estimates of $7.19 billion. During the same period in the previous year, the company posted $55.40 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Booking Holdings Inc. will post 10.47 earnings per share for the current fiscal year.
Booking Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking’s payout ratio is 18.58%.
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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