Booking Holdings Inc. $BKNG Stock Holdings Lifted by Summitry LLC

Summitry LLC grew its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 3,010.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,799 shares of the business services provider’s stock after acquiring an additional 2,709 shares during the period. Summitry LLC’s holdings in Booking were worth $499,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BKNG. Sculati Wealth Management LLC grew its holdings in shares of Booking by 2,400.0% in the 2nd quarter. Sculati Wealth Management LLC now owns 2,500 shares of the business services provider’s stock worth $454,000 after acquiring an additional 2,400 shares during the last quarter. Traveka Wealth LLC raised its position in shares of Booking by 2,529.4% during the second quarter. Traveka Wealth LLC now owns 2,235 shares of the business services provider’s stock worth $398,000 after purchasing an additional 2,150 shares during the period. Hyposwiss Advisors SA lifted its holdings in shares of Booking by 2,400.0% during the second quarter. Hyposwiss Advisors SA now owns 2,350 shares of the business services provider’s stock valued at $419,000 after purchasing an additional 2,256 shares during the last quarter. Boston Common Asset Management LLC lifted its holdings in shares of Booking by 1,723.2% during the second quarter. Boston Common Asset Management LLC now owns 43,173 shares of the business services provider’s stock valued at $7,695,000 after purchasing an additional 40,805 shares during the last quarter. Finally, Legacy Private Trust Co. boosted its position in shares of Booking by 779.4% in the 2nd quarter. Legacy Private Trust Co. now owns 2,603 shares of the business services provider’s stock valued at $464,000 after purchasing an additional 2,307 shares during the period. 92.42% of the stock is owned by institutional investors.

Booking Price Performance

NASDAQ:BKNG opened at $213.34 on Friday. The stock has a market cap of $160.30 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $231.80. The stock’s 50-day moving average is $183.08 and its two-hundred day moving average is $177.00.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $55.40 earnings per share. On average, equities research analysts anticipate that Booking Holdings Inc. will post 10.47 earnings per share for the current year.

Booking Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a $0.42 dividend. 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 is currently 18.58%.

Insider Activity at Booking

In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $206.70, for a total transaction of $206,700.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at $3,100,500. The trade was a 6.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the transaction, the chief financial officer owned 59,794 shares in the company, valued at approximately $12,618,327.82. This represents a 25.06% 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. Insiders have sold 89,625 shares of company stock worth $15,872,675 in the last quarter. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BKNG. Gordon Haskett lifted their price target on Booking from $217.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Piper Sandler reaffirmed 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. Evercore set a $245.00 target price on shares of Booking in a report on Wednesday, April 29th. Sanford C. Bernstein reissued a “market perform” rating on shares of Booking in a research report on Thursday, June 11th. Finally, Oppenheimer restated an “outperform” rating and set a $240.00 price target (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Booking has an average rating of “Moderate Buy” and a consensus target price of $235.72.

Booking 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.