SVB Wealth LLC Buys 26,201 Shares of Booking Holdings Inc. $BKNG

SVB Wealth LLC lifted its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 2,211.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,386 shares of the business services provider’s stock after buying an additional 26,201 shares during the period. SVB Wealth LLC’s holdings in Booking were worth $4,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Booking by 34.9% during the fourth quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock valued at $1,249,000 after acquiring an additional 65 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Booking in the 4th quarter worth about $209,000. Sivia Capital Partners LLC grew its holdings in shares of Booking by 25.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 165 shares of the business services provider’s stock worth $955,000 after purchasing an additional 33 shares during the last quarter. Schnieders Capital Management LLC. increased its position in shares of Booking by 50.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 87 shares of the business services provider’s stock worth $504,000 after purchasing an additional 29 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Booking during the 2nd quarter worth about $179,000. Institutional investors own 92.42% of the company’s stock.

Booking Stock Down 6.7%

Shares of NASDAQ:BKNG opened at $180.30 on Wednesday. The firm has a market cap of $135.47 billion, a P/E ratio of 19.96, 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 $225.00. The company’s 50-day moving average price is $194.57 and its two-hundred day moving average price is $178.72.

Booking (NASDAQ:BKNG) last announced its earnings results 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 net margin of 25.53% and a negative return on equity of 102.96%. 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. The company’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts predict that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.

Booking Dividend Announcement

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

Insider Transactions at Booking

In other Booking news, insider Paulo Pisano sold 3,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $203.48, for a total value of $610,440.00. Following the transaction, the insider directly owned 73,400 shares in the company, valued at approximately $14,935,432. This trade represents a 3.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Wittman sold 1,125 shares of Booking stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the sale, the director directly owned 16,508 shares of the company’s stock, valued at $3,169,536. This trade represents a 6.38% 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 a total of 81,550 shares of company stock worth $16,922,744 over the last ninety days. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Mizuho set a $240.00 price target on shares of Booking in a report on Wednesday, August 5th. The Goldman Sachs Group set a $215.00 price objective on shares of Booking and gave the stock a “neutral” rating in a research note on Monday, July 20th. Bank of America reaffirmed a “buy” rating and set a $234.00 price objective on shares of Booking in a report on Wednesday, August 5th. UBS Group lifted their target price on shares of Booking from $266.00 to $274.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Truist Financial set a $242.00 target price on Booking in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Booking presently has a consensus rating of “Moderate Buy” and an average target price of $236.70.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Travel demand remains relatively resilient despite geopolitical conflicts and a slowing economy, supporting the longer-term outlook for Booking’s lodging and flight-booking businesses. A recent commentary also described BKNG as a potentially attractive travel stock for investors. Booking Holdings Stock: A Travel Stock to Buy Right Now?
• Positive Sentiment: Recent analysis continues to characterize Booking as a growth stock, while its latest reported quarter showed revenue growth and earnings above analyst expectations, providing fundamental support despite the recent weakness. Why Booking Holdings Is a Strong Growth Stock

About Booking

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.