Americana Partners LLC boosted its position in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 1,359.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,364 shares of the business services provider’s stock after buying an additional 38,530 shares during the period. Americana Partners LLC’s holdings in Booking were worth $6,739,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Kapitalo Investimentos Ltda bought a new stake in shares of Booking during the 1st quarter worth approximately $345,000. Alesco Advisors LLC An ESL Co acquired a new stake in shares of Booking during the 1st quarter worth approximately $400,000. Ascentis Independent Advisors boosted its position in shares of Booking by 163.6% during the 1st quarter. Ascentis Independent Advisors now owns 116 shares of the business services provider’s stock worth $488,000 after acquiring an additional 72 shares in the last quarter. Inceptionr LLC bought a new position in Booking in the first quarter valued at approximately $505,000. Finally, Oslo Pensjonsforsikring AS bought a new position in Booking in the first quarter valued at approximately $509,000. 92.42% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have commented on BKNG. Bank of America restated a “buy” rating on shares of Booking in a research report on Monday. Mizuho set a $240.00 target price on Booking in a report on Wednesday, August 5th. Jefferies Financial Group lifted their price target on Booking from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Morgan Stanley set a $230.00 price target on Booking and gave the company an “overweight” rating in a research note on Wednesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $230.00 price target on shares of Booking in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Booking currently has an average rating of “Moderate Buy” and a consensus target price of $233.07.
Read Our Latest Stock Analysis on BKNG
Insider Transactions at Booking
In other Booking news, CFO Ewout L. Steenbergen sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total value of $4,220,600.00. Following the completion of the transaction, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. This represents a 25.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 on 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 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 78,425 shares of company stock worth $16,210,864. 0.17% of the stock is currently owned by insiders.
Key Stories Impacting Booking
Here are the key news stories impacting Booking this week:
- Positive Sentiment: Booking’s global travel leadership, high margins and strong cash-flow generation remain important supports for the investment case. Its cash position could provide flexibility for share repurchases, investment and other shareholder returns. Booking vs. Coupang: Which Stock Is the Better Buy in November?
- Positive Sentiment: Investors will be watching for continued progress in loyalty adoption and the Connected Trip initiative, which aims to increase customer engagement and cross-selling across accommodations, flights, rental cars and other travel services. Strong execution could improve longer-term growth expectations. The Connected Trip Gamble
- Neutral Sentiment: BKNG has attracted unusually high investor attention and options activity ahead of earnings. This may increase short-term volatility, but the available reports do not indicate whether traders are positioning for a rise or decline. Booking Sees Unusually Large Options Volume
- Neutral Sentiment: Analysts are focused not only on revenue and earnings per share but also on operating metrics and other key indicators for the September quarter. These estimates could set the bar for the earnings reaction. Exploring Analyst Estimates for Booking Holdings Q3 Earnings
- Negative Sentiment: Currency headwinds could reduce the reported value of international bookings and earnings, while travel disruptions may weigh on demand or create additional costs. Booking Holdings Q3 Earnings Ahead
- Negative Sentiment: Higher marketing spending may pressure profitability even if bookings and revenue continue to grow. Investors are therefore likely to scrutinize margins, guidance and management’s outlook. Booking Holdings Q3 Earnings Ahead: What’s in Store for the Stock?
- Negative Sentiment: The shares have declined substantially and are trading near their 12-month low, reflecting elevated expectations risk ahead of the report. Any weak guidance or disappointment in Connected Trip adoption could add further pressure.
Booking Trading Down 1.5%
Shares of BKNG stock opened at $148.13 on Friday. The business’s 50-day moving average price is $171.26 and its 200-day moving average price is $177.25. Booking Holdings Inc. has a 12 month low of $146.28 and a 12 month high of $220.81. The firm has a market capitalization of $111.30 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.94 and a beta of 1.13.
Booking (NASDAQ:BKNG – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.11. The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $55.40 earnings per share. On average, sell-side analysts predict that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.
Booking Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Booking’s payout ratio is presently 18.58%.
Booking Profile
Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.
The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.
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