Booking Holdings Inc. $BKNG Position Boosted by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC increased its position in Booking Holdings Inc. (NASDAQ:BKNGFree Report) by 3,782.1% in the second quarter, Holdings Channel reports. The firm owned 5,862 shares of the business services provider’s stock after purchasing an additional 5,711 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Booking were worth $1,045,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BKNG. Benjamin Edwards Inc. raised its stake in Booking by 1.7% during the second quarter. Benjamin Edwards Inc. now owns 121 shares of the business services provider’s stock valued at $700,000 after buying an additional 2 shares in the last quarter. Radnor Capital Management LLC grew its position in shares of Booking by 0.6% in the 4th quarter. Radnor Capital Management LLC now owns 534 shares of the business services provider’s stock worth $2,860,000 after acquiring an additional 3 shares in the last quarter. MJP Associates Inc. ADV increased its holdings in shares of Booking by 6.1% in the 4th quarter. MJP Associates Inc. ADV now owns 52 shares of the business services provider’s stock valued at $278,000 after acquiring an additional 3 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Booking by 1.9% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 158 shares of the business services provider’s stock valued at $846,000 after acquiring an additional 3 shares during the last quarter. Finally, Goldstein Advisors LLC raised its position in shares of Booking by 7.9% during the 4th quarter. Goldstein Advisors LLC now owns 41 shares of the business services provider’s stock valued at $220,000 after acquiring an additional 3 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

Booking Price Performance

NASDAQ:BKNG opened at $173.43 on Thursday. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $225.00. The firm has a market capitalization of $130.31 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.12 and a beta of 1.07. The business has a 50 day simple moving average of $194.39 and a 200 day simple moving average of $178.77.

Booking (NASDAQ:BKNGGet Free Report) last issued its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share 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 analyst estimates of $7.19 billion. During the same period last year, the company earned $55.40 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts anticipate that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Booking Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 1.0%. Booking’s dividend payout ratio is currently 18.58%.

Key Booking News

Here are the key news stories impacting Booking this week:

  • Positive Sentiment: Travel demand remains relatively resilient despite geopolitical conflicts and a slower macroeconomic environment, supporting the outlook for Booking’s accommodation and travel-reservation businesses. Booking Holdings Stock: A Travel Stock to Buy Right Now?
  • Positive Sentiment: Analyst-oriented coverage continues to characterize Booking as a growth stock, reflecting its scale, profitability and potential for continued expansion in online travel. The company’s most recent reported quarter also exceeded earnings and revenue expectations, providing fundamental support. Why Booking Holdings Is a Strong Growth Stock
  • Neutral Sentiment: Booking executives recently participated in Goldman Sachs and Citi technology conferences. The transcripts may provide insight into demand trends, artificial intelligence, competition and capital allocation, but the available headlines do not identify a specific new forecast or material change in guidance. Goldman Sachs Conference Transcript Citi Conference Transcript
  • Negative Sentiment: The European court rejected Booking’s challenge to the EU veto of its ETraveli acquisition, effectively ending the company’s effort to purchase the flight-booking platform. The ruling removes a potential avenue for expansion and could weigh on investor sentiment regarding Booking’s regulatory exposure and acquisition strategy. Booking Loses Court Fight Against EU Veto of ETraveli Deal

Analysts Set New Price Targets

BKNG has been the topic of several research analyst reports. Piper Sandler restated a “neutral” rating and set a $215.00 price objective (up from $195.00) on shares of Booking in a research note on Wednesday, August 5th. Cantor Fitzgerald increased their target price on shares of Booking from $175.00 to $220.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Wells Fargo & Company set a $220.00 price target on shares of Booking and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Booking in a report on Wednesday, August 26th. Finally, Benchmark lifted their price target on shares of Booking from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Two analysts have 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.70.

Get Our Latest Research Report on Booking

Insiders Place Their Bets

In other Booking news, VP Peter J. Millones sold 50,050 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the completion of the transaction, the vice president directly owned 375,025 shares of the company’s stock, valued at $77,851,439.75. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $610,440.00. Following the completion of the transaction, the insider owned 73,400 shares of the company’s stock, valued at approximately $14,935,432. This trade represents a 3.93% 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. Over the last 90 days, insiders have sold 81,550 shares of company stock worth $16,922,744. 0.17% of the stock is owned by company insiders.

Booking Company Profile

(Free Report)

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.

Further Reading

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Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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