Cairn Investment Group Inc. boosted its holdings in Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 2,464.7% during the second quarter, Holdings Channel.com reports. The fund owned 32,880 shares of the business services provider’s stock after buying an additional 31,598 shares during the quarter. Booking accounts for 2.5% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 14th largest holding. Cairn Investment Group Inc.’s holdings in Booking were worth $5,861,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of BKNG. Bogart Wealth LLC grew its holdings in shares of Booking by 3,475.0% during the second quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock worth $25,000 after purchasing an additional 139 shares in the last quarter. Wilkerson Advisory Group LLC increased its position in shares of Booking by 3,550.0% in the second quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock worth $26,000 after purchasing an additional 142 shares during the last quarter. Osbon Capital Management LLC purchased a new stake in Booking in the fourth quarter valued at approximately $27,000. First Financial Corp IN raised its stake in Booking by 2,400.0% in the second quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. Finally, Roble Belko & Company Inc lifted its position in Booking by 2,400.0% during the second quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Booking News Summary
Here are the key news stories impacting Booking this week:
- Positive Sentiment: Rosenblatt initiated coverage with a Buy rating and a $245 price target, implying approximately 25% upside from the referenced share price. The firm views Booking as the best-positioned online travel agency despite industry challenges, providing a potentially meaningful catalyst for the shares. Rosenblatt sees Booking as the best-positioned online travel agency
- Positive Sentiment: Zacks characterized Booking as a strong momentum stock based on its style-score framework, reinforcing the case that recent price and fundamental trends could attract momentum-oriented investors. Why Booking is a strong momentum stock
- Positive Sentiment: Erste Group Bank brokers raised their earnings estimates for Booking, suggesting improving expectations for the company’s future profitability. Higher forecasts can support valuation, although the article provides no details on the size or rationale of the revisions. Erste Group Bank lifts Booking earnings estimates
- Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The interview may offer insight into demand and booking patterns, but the available report does not specify whether the commentary was favorable or unfavorable for Booking. Priceline CEO discusses travel trends
- Negative Sentiment: Booking has lagged the broader market this year, which could weigh on investor sentiment and highlights concerns about online-travel-sector growth or valuation. Separately, director Paulo Pisano sold 3,000 shares worth about $610,440 under a pre-arranged Rule 10b5-1 plan; the planned nature of the transaction reduces its signaling value, but it remains a modest negative headline.
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 EPS 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 company had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter last year, the company earned $55.40 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts expect that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.
Booking Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be paid 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 0.9%. Booking’s payout ratio is 18.58%.
Wall Street Analyst Weigh In
A number of research firms have commented on BKNG. Susquehanna reissued a “positive” rating and issued a $240.00 price target on shares of Booking in a research note on Thursday, August 6th. Wedbush raised their price objective on shares of Booking from $211.00 to $247.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Wells Fargo & Company set a $220.00 price objective on shares of Booking and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Piper Sandler reiterated a “neutral” rating and issued a $215.00 target price (up from $195.00) on shares of Booking in a research report on Wednesday, August 5th. Finally, Truist Financial set a $242.00 target price on Booking in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $236.70.
Get Our Latest Report on Booking
Insider Activity at Booking
In other Booking news, Director Vanessa Ames Wittman sold 1,125 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total transaction of $216,000.00. Following the transaction, the director owned 16,508 shares in the company, valued at approximately $3,169,536. This represents a 6.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $203.48, for a total value of $610,440.00. Following the completion of the transaction, the insider directly owned 73,400 shares of the company’s stock, valued at $14,935,432. This represents a 3.93% 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. Insiders have sold 80,550 shares of company stock valued at $16,722,744 over the last 90 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.
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