L2 Asset Management LLC acquired a new position in Booking Holdings Inc. (NASDAQ:BKNG – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,442 shares of the business services provider’s stock, valued at approximately $792,000.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Booking in the second quarter worth approximately $11,646,302,000. Deutsche Bank AG bought a new stake in shares of Booking during the 2nd quarter worth approximately $1,691,186,000. Bank of New York Mellon Corp purchased a new position in Booking during the 2nd quarter valued at $1,370,455,000. J. Stern & Co. LLP boosted its holdings in Booking by 191,965.8% during the 4th quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock valued at $15,171,489,000 after acquiring an additional 2,831,495 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Booking in the 2nd quarter valued at $472,723,000. Institutional investors own 92.42% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on BKNG shares. Bank of America reiterated a “buy” rating and issued a $234.00 target price on shares of Booking in a research note 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. Susquehanna restated a “positive” rating and issued a $240.00 price target on shares of Booking in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $230.00 price target on shares of Booking in a research note on Wednesday, August 5th. Finally, Evercore reiterated an “outperform” rating and set a $270.00 price objective on shares of Booking in a report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.45.
Booking Price Performance
Shares of Booking stock opened at $213.36 on Tuesday. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $230.98. The firm’s 50-day moving average is $189.38 and its two-hundred day moving average is $177.09. The stock has a market cap of $160.31 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.27 and a beta of 1.07.
Booking (NASDAQ:BKNG – Get Free Report) last posted its 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 net margin of 25.53% and a negative return on equity of 102.96%. The business 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 firm posted $55.40 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts expect that Booking Holdings Inc. will post 10.47 earnings per share for the current year.
Booking Announces Dividend
The firm also recently disclosed 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 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 currently 18.58%.
Insider Buying and Selling at Booking
In other Booking news, Director Robert J. Mylod, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the director owned 16,000 shares in the company, valued at $3,200,000. This represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the 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 directly owned 16,508 shares in the company, valued at $3,169,536. This trade represents a 6.38% decrease in their position. 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 three months, insiders sold 77,550 shares of company stock valued at $16,112,304. 0.17% of the stock is owned by corporate insiders.
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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