Cairn Investment Group Inc. Acquires 31,598 Shares of Booking Holdings Inc. $BKNG

Cairn Investment Group Inc. boosted its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 2,464.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,880 shares of the business services provider’s stock after purchasing an additional 31,598 shares during the period. Booking comprises 2.5% of Cairn Investment Group Inc.’s holdings, making the stock its 14th largest position. Cairn Investment Group Inc.’s holdings in Booking were worth $5,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Osbon Capital Management LLC purchased a new position in shares of Booking in the 4th quarter worth about $27,000. Mcguire Capital Advisors Inc. purchased a new stake in Booking during the fourth quarter worth about $27,000. Strive Asset Management LLC purchased a new stake in Booking during the third quarter worth about $27,000. Swiss RE Ltd. purchased a new stake in Booking during the fourth quarter worth about $27,000. Finally, Godfrey Financial Associates Inc. bought a new stake in Booking in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insiders Place Their Bets

In other Booking news, insider Paulo Pisano sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $203.48, for a total value of $610,440.00. Following the completion of the transaction, the insider owned 73,400 shares in the company, valued at $14,935,432. This trade represents a 3.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 50,050 shares of Booking stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $207.59, for a total value 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. Insiders have sold 80,550 shares of company stock worth $16,722,744 over the last quarter. Insiders own 0.17% of the company’s stock.

Booking Price Performance

Shares of BKNG stock opened at $195.69 on Wednesday. The company’s fifty day simple moving average is $193.34 and its two-hundred day simple moving average is $177.91. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $226.10. The stock has a market capitalization of $147.04 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.23 and a beta of 1.07.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $55.40 earnings per share. Equities research analysts anticipate that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 0.9%. Booking’s dividend payout ratio is 18.58%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BKNG shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Booking in a research report on Wednesday, August 26th. Piper Sandler reaffirmed a “neutral” rating and issued a $215.00 price target (up from $195.00) on shares of Booking in a report on Wednesday, August 5th. BTIG Research reiterated a “buy” rating and issued a $250.00 price objective on shares of Booking in a research note on Thursday, August 27th. The Goldman Sachs Group set a $215.00 price objective on Booking and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Mizuho set a $240.00 price objective on Booking in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.70.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Buy rating and a $245 price target, implying approximately 25% upside from the referenced share price. The firm views Booking as the best-positioned online travel agency despite industry challenges, providing a potentially meaningful catalyst for the shares. Rosenblatt sees Booking as the best-positioned online travel agency
• Positive Sentiment: Zacks characterized Booking as a strong momentum stock based on its style-score framework, reinforcing the case that recent price and fundamental trends could attract momentum-oriented investors. Why Booking is a strong momentum stock
• Positive Sentiment: Erste Group Bank brokers raised their earnings estimates for Booking, suggesting improving expectations for the company’s future profitability. Higher forecasts can support valuation, although the article provides no details on the size or rationale of the revisions. Erste Group Bank lifts Booking earnings estimates
• Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The interview may offer insight into demand and booking patterns, but the available report does not specify whether the commentary was favorable or unfavorable for Booking. Priceline CEO discusses travel trends
• Negative Sentiment: Booking has lagged the broader market this year, which could weigh on investor sentiment and highlights concerns about online-travel-sector growth or valuation. Separately, director Paulo Pisano sold 3,000 shares worth about $610,440 under a pre-arranged Rule 10b5-1 plan; the planned nature of the transaction reduces its signaling value, but it remains a modest negative headline.

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.