Varma Mutual Pension Insurance Co purchased a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 129,200 shares of the business services provider’s stock, valued at approximately $23,029,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Booking during the second quarter valued at approximately $11,646,302,000. Deutsche Bank AG bought a new position in shares of Booking during the second quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp purchased a new stake in Booking in the second quarter worth $1,370,455,000. Vanguard Group Inc. lifted its stake in Booking by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 2,997,949 shares of the business services provider’s stock worth $16,055,006,000 after acquiring an additional 23,159 shares during the period. Finally, J. Stern & Co. LLP boosted its holdings in 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 valued at $15,171,489,000 after acquiring an additional 2,831,495 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Insider Buying and Selling
In related news, VP Peter J. Millones sold 50,050 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $207.59, for a total value of $10,389,879.50. Following the sale, the vice president owned 375,025 shares in the company, valued at $77,851,439.75. This represents a 11.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $206.70, for a total value of $206,700.00. Following the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $3,100,500. This trade represents a 6.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 140,050 shares of company stock worth $26,341,680. 0.17% of the stock is currently owned by corporate insiders.
Booking Price Performance
Booking (NASDAQ:BKNG – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping 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 business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the prior year, the company earned $55.40 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. Research analysts expect that Booking Holdings Inc. will post 10.47 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. Stockholders of record on Friday, September 11th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s payout ratio is currently 18.58%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on BKNG shares. Argus boosted their price objective on shares of Booking from $210.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, August 10th. B. Riley Financial reaffirmed a “buy” rating and issued a $274.00 target price (up from $264.00) on shares of Booking in a research report on Wednesday, August 5th. Oppenheimer reaffirmed an “outperform” rating and set a $240.00 target price (up from $215.00) on shares of Booking in a research note on Wednesday, August 5th. Piper Sandler reiterated a “neutral” rating and set a $215.00 price target (up from $195.00) on shares of Booking in a research report on Wednesday, August 5th. Finally, Mizuho set a $240.00 price objective on shares of Booking in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.72.
Get Our Latest Analysis 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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