NewEdge Wealth LLC Takes $827,000 Position in Booking Holdings Inc. $BKNG

NewEdge Wealth LLC bought a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNGFree Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,639 shares of the business services provider’s stock, valued at approximately $827,000.

Several other large investors have also bought and sold shares of BKNG. Flossbach Von Storch SE bought a new stake in Booking during the second quarter worth approximately $46,169,000. Great Lakes Advisors LLC purchased a new stake in Booking during the second quarter valued at about $19,631,000. Act Two Investors LLC purchased a new stake in Booking during the second quarter valued at about $628,000. Danske Bank A S acquired a new position in shares of Booking in the second quarter worth about $73,645,000. Finally, Diversify Advisory Services LLC acquired a new position in shares of Booking in the second quarter worth about $980,000. Institutional investors own 92.42% of the company’s stock.

Insider Activity at Booking

In other news, Director Robert J. Mylod, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the transaction, the director directly owned 16,000 shares in the company, valued at $3,200,000. The trade was a 23.81% decrease in their position. 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, Director Vanessa Ames Wittman sold 1,125 shares of the company’s stock in a transaction 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 completion of the transaction, the director directly owned 16,508 shares in the company, valued at $3,169,536. This trade represents a 6.38% 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. In the last quarter, insiders have sold 140,050 shares of company stock valued at $26,341,680. Insiders own 0.17% of the company’s stock.

Booking Price Performance

NASDAQ BKNG opened at $209.62 on Friday. The company has a 50 day simple moving average of $188.60 and a 200-day simple moving average of $177.19. The firm has a market capitalization of $157.50 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. Booking Holdings Inc. has a 52-week low of $150.14 and a 52-week high of $231.80.

Booking (NASDAQ:BKNGGet Free Report) last announced its quarterly earnings data 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. The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $55.40 earnings per share. On average, analysts predict that Booking Holdings Inc. will post 10.47 EPS for the current year.

Booking Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.8%. Booking’s dividend payout ratio (DPR) is 18.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BKNG shares. Gordon Haskett boosted their price target on shares of Booking from $217.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Truist Financial set a $242.00 price objective on shares of Booking in a research note on Wednesday, August 5th. UBS Group lifted their price objective on shares of Booking from $266.00 to $274.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Robert W. Baird set a $230.00 target price on shares of Booking in a research note on Wednesday, August 5th. Finally, Susquehanna reissued a “positive” rating and set a $240.00 target price on shares of Booking in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Booking currently has an average rating of “Moderate Buy” and a consensus target price of $235.72.

Read Our Latest Stock Analysis on BKNG

About Booking

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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