StoneRidge PMG Advisors LLC purchased a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) during the third quarter, HoldingsChannel reports. The institutional investor purchased 3,541 shares of the business services provider’s stock, valued at approximately $577,000.
Several other institutional investors and hedge funds also recently made changes to their positions in BKNG. Hohimer Wealth Management LLC raised its stake in shares of Booking by 378.4% in the third quarter. Hohimer Wealth Management LLC now owns 22,117 shares of the business services provider’s stock worth $3,603,000 after purchasing an additional 17,494 shares during the last quarter. Carret Asset Management LLC lifted its holdings in shares of Booking by 13.6% during the third quarter. Carret Asset Management LLC now owns 4,215 shares of the business services provider’s stock valued at $687,000 after purchasing an additional 505 shares in the last quarter. Family Capital Management Inc. bought a new position in shares of Booking during the third quarter valued at $210,000. Avantax Planning Partners Inc. boosted its position in shares of Booking by 0.8% during the third quarter. Avantax Planning Partners Inc. now owns 10,884 shares of the business services provider’s stock valued at $1,773,000 after buying an additional 86 shares during the last quarter. Finally, Brighton Jones LLC boosted its position in shares of Booking by 16.7% during the third quarter. Brighton Jones LLC now owns 14,032 shares of the business services provider’s stock valued at $2,286,000 after buying an additional 2,006 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently commented on BKNG. The Goldman Sachs Group reiterated a “neutral” rating and issued a $175.00 price objective on shares of Booking in a report on Wednesday. Benchmark upped their target price on shares of Booking from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Robert W. Baird set a $230.00 price target on shares of Booking in a report on Wednesday, August 5th. Oppenheimer reaffirmed an “outperform” rating and set a $240.00 price target (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. Finally, Rosenblatt Securities reduced their price target on shares of Booking from $245.00 to $210.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $222.35.
Check Out Our Latest Research Report on BKNG
Booking Price Performance
NASDAQ BKNG opened at $160.66 on Monday. The business’s fifty day moving average price is $166.49 and its 200-day moving average price is $176.13. The stock has a market capitalization of $119.48 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.03 and a beta of 1.17. Booking Holdings Inc. has a 1-year low of $146.28 and a 1-year high of $220.81.
Booking (NASDAQ:BKNG – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, topping the consensus estimate of $4.49 by $0.17. Booking had a negative return on equity of 89.54% and a net margin of 25.52%. The company had revenue of $9.79 billion during the quarter, compared to analyst estimates of $9.55 billion. During the same quarter in the previous year, the company posted $99.50 earnings per share. Booking’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that Booking Holdings Inc. will post 10.24 EPS for the current year.
Booking News Roundup
Here are the key news stories impacting Booking this week:
- Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
- Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
- Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
- Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
- Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target
Insider Buying and Selling
In other Booking news, Director Robert Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 14,000 shares of the company’s stock, valued at approximately $2,800,000. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter Millones, Jr. sold 50,050 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president directly owned 375,025 shares in the company, valued at $77,851,439.75. The trade was a 11.77% decrease in their ownership of the stock. 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 77,425 shares of company stock valued at $16,004,164 in the last 90 days. Insiders own 0.17% of the company’s stock.
Booking Profile
Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.
The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.
Booking Holdings traces its history to Priceline, which was founded in 1997.
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