Orion Capital Management LLC Increases Holdings in Booking Holdings Inc. $BKNG

Orion Capital Management LLC lifted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 3,983.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,920 shares of the business services provider’s stock after purchasing an additional 3,824 shares during the quarter. Orion Capital Management LLC’s holdings in Booking were worth $699,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Osbon Capital Management LLC bought a new stake in shares of Booking during the fourth quarter valued at about $27,000. Mcguire Capital Advisors Inc. purchased a new position in Booking during the fourth quarter valued at approximately $27,000. Strive Asset Management LLC bought a new stake in Booking during the 3rd quarter worth approximately $27,000. Swiss RE Ltd. purchased a new stake in Booking in the 4th quarter worth approximately $27,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in Booking in the 4th quarter worth approximately $32,000. Institutional investors own 92.42% of the company’s stock.

Booking News Roundup

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Buy/Strong Buy rating and a $245 price target, implying roughly 23% upside from the referenced share price. The firm considers Booking one of the best-positioned online travel agencies despite industry challenges. Rosenblatt sees Booking as the best-positioned online travel agency
• Positive Sentiment: Recent operating results support the bullish analyst view. Booking’s latest reported quarter exceeded consensus estimates for both earnings and revenue, with revenue increasing 8.1% year over year. The company also recently declared a quarterly dividend of $0.42 per share.
• Positive Sentiment: Momentum-focused coverage was favorable. Zacks identified Booking as a strong momentum stock, noting its recent performance relative to the broader market. This may encourage continued interest from momentum-oriented investors. Why Booking is a strong momentum stock
• Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The commentary could provide insight into travel demand, but the available report does not indicate whether the trends were specifically positive or negative for Booking. Priceline CEO discusses travel trends
• Negative Sentiment: Insiders reported stock sales. Director Robert J. Mylod Jr. sold 1,000 shares for approximately $200,000, while insider Paulo Pisano sold 3,000 shares for about $610,440. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as signals of deteriorating business prospects. Booking insider stock sales

Analyst Upgrades and Downgrades

Several research analysts have commented on BKNG shares. Rosenblatt Securities assumed coverage on shares of Booking in a report on Tuesday. They issued a “buy” rating and a $245.00 price target for the company. 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. Jefferies Financial Group increased their price objective on Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Susquehanna reissued a “positive” rating and set a $240.00 price objective on shares of Booking in a research note on Thursday, August 6th. Finally, DA Davidson set a $240.00 target price on Booking in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Booking presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.70.

Insiders Place Their Bets

In other Booking news, VP Peter J. Millones sold 50,050 shares of Booking stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the completion of the sale, the vice president owned 375,025 shares of the company’s stock, valued at $77,851,439.75. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was 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 owned 59,794 shares of the company’s stock, valued at $12,618,327.82. The trade was a 25.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 81,550 shares of company stock valued at $16,922,744 over the last quarter. Insiders own 0.17% of the company’s stock.

Booking Price Performance

Shares of Booking stock opened at $199.60 on Thursday. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $226.10. The firm has a market cap of $149.98 billion, a PE ratio of 22.09, a PEG ratio of 1.21 and a beta of 1.07. The company has a 50 day simple moving average of $193.71 and a two-hundred day simple moving average of $178.12.

Booking (NASDAQ:BKNG) last issued 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 for 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 business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $55.40 EPS. As a group, research analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be given a $0.42 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 0.8%. Booking’s payout ratio is 18.58%.

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.