PCM Encore LLC Acquires Shares of 2,822 Booking Holdings Inc. $BKNG

PCM Encore LLC acquired a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,822 shares of the business services provider’s stock, valued at approximately $503,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bogart Wealth LLC raised its stake in shares of Booking by 3,475.0% in the 2nd quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 139 shares in the last quarter. Wilkerson Advisory Group LLC grew its stake in Booking by 3,550.0% in the second quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock worth $26,000 after purchasing an additional 142 shares in the last quarter. Camelot Portfolios LLC acquired a new position in Booking in the fourth quarter worth about $27,000. Osbon Capital Management LLC acquired a new position in Booking in the fourth quarter worth about $27,000. Finally, First Financial Corp IN increased its holdings in Booking by 2,400.0% in the second quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock valued at $27,000 after buying an additional 144 shares during the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BKNG shares. Wells Fargo & Company set a $220.00 price objective on Booking and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Benchmark lifted their target price on Booking from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada lowered their price target on Booking from $244.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Truist Financial set a $242.00 price target on Booking in a research report on Wednesday, August 5th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Booking in a research note on Thursday, June 11th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.72.

Booking Stock Down 1.5%

BKNG opened at $209.87 on Friday. The firm has a market cap of $157.69 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 1.29 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 company’s 50-day moving average price is $187.71 and its 200 day moving average price is $177.15.

Booking (NASDAQ:BKNG) last issued its 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. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the firm posted $55.40 earnings per share. Booking’s quarterly revenue was up 8.1% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. Booking’s dividend payout ratio (DPR) is 18.58%.

Insider Buying and Selling

In related news, Director Robert J. Mylod, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total transaction of $206,700.00. Following the completion of the transaction, the director 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 document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 375 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $211.00, for a total value of $79,125.00. Following the transaction, the director owned 16,133 shares of the company’s stock, valued at approximately $3,404,063. The trade was a 2.27% decrease in their ownership of the stock. 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 140,050 shares of company stock worth $26,341,680. Company insiders own 0.17% of the company’s stock.

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.