Orion Capital Management LLC lifted its holdings in Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 3,983.3% in the second quarter, HoldingsChannel reports. The fund owned 3,920 shares of the business services provider’s stock after buying an additional 3,824 shares during the period. Orion Capital Management LLC’s holdings in Booking were worth $699,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in BKNG. Brighton Jones LLC boosted its position in Booking by 34.9% during the fourth quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock valued at $1,249,000 after buying an additional 65 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Booking in the fourth quarter worth about $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 acquiring an additional 33 shares during the last quarter. Schnieders Capital Management LLC. lifted 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 acquiring an additional 29 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in Booking during the 2nd quarter valued at about $179,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Key Headlines Impacting Booking
Here are the key news stories impacting Booking this week:
- Positive Sentiment: Rosenblatt initiated coverage with a Buy/Strong Buy rating and a $245 price target, implying roughly 23% upside from the referenced share price. The firm considers Booking one of the best-positioned online travel agencies despite industry challenges. Rosenblatt sees Booking as the best-positioned online travel agency
- Positive Sentiment: Recent operating results support the bullish analyst view. Booking’s latest reported quarter exceeded consensus estimates for both earnings and revenue, with revenue increasing 8.1% year over year. The company also recently declared a quarterly dividend of $0.42 per share.
- Positive Sentiment: Momentum-focused coverage was favorable. Zacks identified Booking as a strong momentum stock, noting its recent performance relative to the broader market. This may encourage continued interest from momentum-oriented investors. Why Booking is a strong momentum stock
- Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The commentary could provide insight into travel demand, but the available report does not indicate whether the trends were specifically positive or negative for Booking. Priceline CEO discusses travel trends
- Negative Sentiment: Insiders reported stock sales. Director Robert J. Mylod Jr. sold 1,000 shares for approximately $200,000, while insider Paulo Pisano sold 3,000 shares for about $610,440. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as signals of deteriorating business prospects. Booking insider stock sales
Analyst Ratings Changes
Read Our Latest Analysis on BKNG
Booking Price Performance
NASDAQ BKNG opened at $199.60 on Thursday. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $226.10. The stock has a market capitalization of $149.98 billion, a PE ratio of 22.09, a PEG ratio of 1.21 and a beta of 1.07. The business’s 50-day moving average is $193.71 and its 200 day moving average is $178.12.
Booking (NASDAQ:BKNG – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the prior year, the company posted $55.40 EPS. Booking’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current year.
Booking Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio is currently 18.58%.
Insider Activity at Booking
In related news, Director Vanessa Ames Wittman sold 1,125 shares of Booking stock in a transaction 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 owned 16,508 shares in the company, valued at $3,169,536. The trade was a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $203.48, for a total transaction of $610,440.00. Following the transaction, the insider directly owned 73,400 shares in the company, valued at approximately $14,935,432. The trade was a 3.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 81,550 shares of company stock valued at $16,922,744 over the last 90 days. Company insiders own 0.17% of the company’s stock.
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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