Concurrent Investment Advisors LLC Acquires 16,645 Shares of Booking Holdings Inc. $BKNG

Concurrent Investment Advisors LLC grew its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 4,059.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,055 shares of the business services provider’s stock after purchasing an additional 16,645 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Booking were worth $3,040,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BKNG. NEOS Investment Management LLC grew its stake in Booking by 2,648.9% in the 2nd quarter. NEOS Investment Management LLC now owns 603,691 shares of the business services provider’s stock worth $107,602,000 after acquiring an additional 581,730 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC raised its stake in shares of Booking by 2,401.6% during the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 1,576 shares of the business services provider’s stock valued at $281,000 after acquiring an additional 1,513 shares in the last quarter. Paragon Private Wealth Management LLC raised its stake in shares of Booking by 3,120.4% during the second quarter. Paragon Private Wealth Management LLC now owns 1,578 shares of the business services provider’s stock valued at $281,000 after acquiring an additional 1,529 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Booking by 4,939.1% in the second quarter. Continuum Advisory LLC now owns 3,225 shares of the business services provider’s stock valued at $575,000 after purchasing an additional 3,161 shares during the period. Finally, Orion Capital Management LLC boosted its holdings in shares of Booking by 3,983.3% in the second quarter. Orion Capital Management LLC now owns 3,920 shares of the business services provider’s stock valued at $699,000 after purchasing an additional 3,824 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Stock Performance

Shares of NASDAQ:BKNG opened at $193.29 on Tuesday. The company has a market capitalization of $145.23 billion, a PE ratio of 21.39, a P/E/G ratio of 1.20 and a beta of 1.07. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $226.10. The business’s fifty day simple moving average is $194.53 and its 200-day simple moving average is $178.71.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping 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 firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the prior year, the business posted $55.40 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Research analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Announces Dividend

The company 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 $0.42 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 0.9%. Booking’s payout ratio is currently 18.58%.

Insiders Place Their Bets

In other Booking news, CFO Ewout L. Steenbergen sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. This represents a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $203.48, for a total transaction of $610,440.00. Following the completion of the sale, the insider owned 73,400 shares in the company, valued at $14,935,432. This represents a 3.93% 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 sold a total of 81,550 shares of company stock valued at $16,922,744 in the last three months. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on BKNG shares. Piper Sandler restated a “neutral” rating and set a $215.00 price objective (up from $195.00) on shares of Booking in a report on Wednesday, August 5th. Argus upped their target price on Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Citigroup reissued a “buy” rating and set a $236.00 price target (up from $225.00) on shares of Booking in a research report on Wednesday, August 5th. UBS Group raised their price target on Booking from $266.00 to $274.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $250.00 price objective (up from $240.00) on shares of Booking in a report on Wednesday, August 5th. Two investment analysts have 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, Booking currently has a consensus rating of “Moderate Buy” and an average target price of $236.70.

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.