Raiffeisen Bank International AG boosted its holdings in Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 2,577.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 272,811 shares of the business services provider’s stock after buying an additional 262,620 shares during the quarter. Raiffeisen Bank International AG’s holdings in Booking were worth $49,763,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Booking during the second quarter valued at approximately $11,646,302,000. Deutsche Bank AG bought a new stake in Booking in the 2nd quarter worth approximately $1,691,186,000. Bank of New York Mellon Corp purchased a new stake in Booking during the 2nd quarter valued at $1,370,455,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Booking by 2,525.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider’s stock valued at $1,087,597,000 after buying an additional 5,869,459 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Booking during the 2nd quarter valued at $992,026,000. Institutional investors own 92.42% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the company. Rosenblatt Securities initiated coverage on Booking in a report on Tuesday. They issued a “buy” rating and a $245.00 price objective for the company. Cantor Fitzgerald raised their target price on Booking from $175.00 to $220.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. BMO Capital Markets restated an “outperform” rating and set a $250.00 price target (up from $240.00) on shares of Booking in a research note on Wednesday, August 5th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $188.00 price target on shares of Booking in a research report on Wednesday, August 26th. Finally, Bank of America reiterated a “buy” rating and issued a $234.00 price objective on shares of Booking in a research note on Wednesday, August 5th. Two analysts have 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $236.70.
Insiders Place Their Bets
In other news, insider Paulo Pisano sold 3,000 shares of the company’s stock in a transaction dated 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 owned 73,400 shares of the company’s stock, valued at $14,935,432. This represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Mylod, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $200.00, for a total value of $1,000,000.00. Following the completion of the transaction, the director owned 16,000 shares of the company’s stock, valued at $3,200,000. The trade was a 23.81% 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. Over the last ninety days, insiders sold 81,550 shares of company stock valued at $16,922,744. Insiders own 0.17% of the company’s stock.
More Booking News
Here are the key news stories impacting Booking this week:
- Positive Sentiment: Rosenblatt initiated coverage with a Strong Buy recommendation and reportedly set a $245 price target, indicating substantial potential upside from recent trading levels. The bullish view may support BKNG by highlighting its positioning among online travel companies. Rosenblatt initiates coverage of Booking Holdings
- Positive Sentiment: Booking’s capital-return profile remains attractive. A recent analysis noted that the company’s dividend and share repurchases together produce a total shareholder yield above 7%, which could appeal to value and income-oriented investors. Booking Holdings dividend and buyback analysis
- Positive Sentiment: Fundamentally, the latest quarter included earnings of $2.54 per share versus a $2.43 consensus estimate and revenue of $7.35 billion versus expectations of $7.19 billion. Revenue grew 8.1% year over year, while Booking declared a quarterly dividend of $0.42 per share.
- Neutral Sentiment: Analyst commentary is generally favorable, but the stock’s post-earnings performance indicates that strong results have not yet translated into sustained upward momentum. Investors are likely focused on updated forecasts and the outlook for travel demand.
- Negative Sentiment: Recent insider selling adds a modest negative headline. Director Robert Mylod Jr. sold 1,000 shares for $200,000, following insider Paulo Pisano’s sale of 3,000 shares for approximately $610,440. Both transactions were made under pre-arranged Rule 10b5-1 plans, limiting their value as signals of deteriorating business prospects. Booking Holdings director stock sale
Booking Stock Performance
NASDAQ:BKNG opened at $195.13 on Friday. The stock has a 50-day simple moving average of $194.07 and a two-hundred day simple moving average of $178.29. Booking Holdings Inc. has a 52-week low of $150.14 and a 52-week high of $226.10. The firm has a market capitalization of $146.62 billion, a PE ratio of 21.60, a P/E/G ratio of 1.24 and a beta of 1.07.
Booking (NASDAQ:BKNG – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS 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 the consensus estimate of $7.19 billion. During the same quarter last year, the company earned $55.40 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts forecast that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.
Booking Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.9%. Booking’s payout ratio is 18.58%.
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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