Orrstown Financial Services Inc. Has $754,000 Stock Holdings in Booking Holdings Inc. $BKNG

Orrstown Financial Services Inc. raised its position in Booking Holdings Inc. (NASDAQ:BKNG) by 2,317.1% during the second quarter, Holdings Channel reports. The institutional investor owned 4,230 shares of the business services provider’s stock after buying an additional 4,055 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Booking were worth $754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Life Cycle Investment Partners Ltd bought a new position in Booking in the fourth quarter valued at approximately $361,463,000. Rit Capital Partners PLC bought a new stake in shares of Booking during the 4th quarter valued at $51,396,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Booking during the 4th quarter valued at $210,352,000. Cardano Risk Management B.V. lifted its stake in shares of Booking by 862.0% in the 4th quarter. Cardano Risk Management B.V. now owns 218,080 shares of the business services provider’s stock valued at $1,167,890,000 after purchasing an additional 195,411 shares during the period. Finally, Rathbones Group PLC lifted its stake in shares of Booking by 20.5% in the 4th quarter. Rathbones Group PLC now owns 64,908 shares of the business services provider’s stock valued at $347,604,000 after purchasing an additional 11,042 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BKNG. Cantor Fitzgerald lifted their price objective on Booking from $175.00 to $220.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Barclays set a $210.00 target price on Booking and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Jefferies Financial Group raised their target price on Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Booking from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Finally, Evercore set a $245.00 price target on Booking in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.72.

Booking Price Performance

Shares of Booking stock opened at $212.88 on Tuesday. The company has a market capitalization of $159.95 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.30 and a beta of 1.07. The business has a 50-day moving average of $180.30 and a two-hundred day moving average of $176.61. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $231.80.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, beating 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 business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the previous year, the business posted $55.40 EPS. Booking’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Booking Holdings Inc. will post 10.43 EPS for the current fiscal year.

Booking Announces Dividend

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 issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio (DPR) is 18.58%.

Insider Buying and Selling at Booking

In other news, VP Peter J. Millones sold 62,500 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the completion of the sale, the vice president owned 425,075 shares of the company’s stock, valued at $69,572,025.25. This represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 5,000 shares of the firm’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 sale, the director owned 16,000 shares in the company, valued at approximately $3,200,000. The trade was a 23.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 69,625 shares of company stock valued at $11,652,075. 0.17% of the stock is currently owned by corporate insiders.

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.