Washington Trust Advisors Inc. lifted its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 2,273.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 178,758 shares of the business services provider’s stock after acquiring an additional 171,226 shares during the period. Booking comprises about 2.4% of Washington Trust Advisors Inc.’s holdings, making the stock its 12th biggest position. Washington Trust Advisors Inc.’s holdings in Booking were worth $31,862,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Booking in the second quarter valued at about $11,646,302,000. Deutsche Bank AG acquired a new position in Booking during the second quarter worth about $1,691,186,000. Bank of New York Mellon Corp acquired a new position in Booking during the second quarter worth about $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% in the second 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 worth $1,087,597,000 after acquiring an additional 5,869,459 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Booking in the second quarter worth about $992,026,000. 92.42% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Booking
In other news, VP Peter Millones, Jr. sold 50,050 shares of Booking stock in a transaction dated Monday, August 17th. The shares were 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 owned 375,025 shares in the company, valued at $77,851,439.75. This trade represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Robert Mylod, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director owned 14,000 shares in the company, valued at $2,800,000. The trade was a 6.67% 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 90 days, insiders sold 81,550 shares of company stock valued at $16,922,744. Insiders own 0.17% of the company’s stock.
Booking Price Performance
Booking (NASDAQ:BKNG – Get Free Report) last issued 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. The firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $55.40 EPS. As a group, analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current year.
Booking Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 0.9%. Booking’s dividend payout ratio is 18.58%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on BKNG. Argus raised their price target on shares of Booking from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Evercore reiterated an “outperform” rating and set a $270.00 price objective on shares of Booking in a research report on Monday, August 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Booking in a research note on Wednesday, August 26th. B. Riley Financial restated a “buy” rating and issued a $274.00 target price (up from $264.00) on shares of Booking in a research report on Wednesday, August 5th. Finally, Cantor Fitzgerald boosted their target price on shares of Booking from $175.00 to $220.00 and gave the stock a “neutral” rating 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 stock. Based on data from MarketBeat.com, Booking has an average rating of “Moderate Buy” and a consensus target price of $236.70.
Read Our Latest Analysis on Booking
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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