Booking Holdings Inc. $BKNG Shares Purchased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 3,782.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 5,862 shares of the business services provider’s stock after buying an additional 5,711 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Booking were worth $1,045,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Benjamin Edwards Inc. increased its position in shares of Booking by 1.7% in the second quarter. Benjamin Edwards Inc. now owns 121 shares of the business services provider’s stock worth $700,000 after acquiring an additional 2 shares in the last quarter. Radnor Capital Management LLC lifted its holdings in shares of Booking by 0.6% during the 4th quarter. Radnor Capital Management LLC now owns 534 shares of the business services provider’s stock valued at $2,860,000 after acquiring an additional 3 shares in the last quarter. MJP Associates Inc. ADV lifted its holdings in shares of Booking by 6.1% during the 4th quarter. MJP Associates Inc. ADV now owns 52 shares of the business services provider’s stock valued at $278,000 after acquiring an additional 3 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in Booking by 1.9% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 158 shares of the business services provider’s stock worth $846,000 after purchasing an additional 3 shares during the period. Finally, Goldstein Advisors LLC boosted its position in Booking by 7.9% during the 4th quarter. Goldstein Advisors LLC now owns 41 shares of the business services provider’s stock worth $220,000 after purchasing an additional 3 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 14,000 shares in the company, valued at approximately $2,800,000. This represents a 6.67% decrease in their position. 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, VP Peter J. Millones sold 50,050 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 81,550 shares of company stock worth $16,922,744 over the last quarter. Corporate insiders own 0.17% of the company’s stock.

Booking Price Performance

NASDAQ:BKNG opened at $173.43 on Thursday. The firm has a 50-day moving average of $194.39 and a two-hundred day moving average of $178.77. The stock has a market cap of $130.31 billion, a P/E ratio of 19.19, a PEG ratio of 1.12 and a beta of 1.07. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $225.00.

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, beating the consensus estimate 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 last year, the firm earned $55.40 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts expect that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio (DPR) is 18.58%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BKNG shares. Susquehanna reiterated a “positive” rating and issued a $240.00 price target on shares of Booking in a report on Thursday, August 6th. Jefferies Financial Group upped their target price on Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $230.00 target price on shares of Booking in a research note on Wednesday, August 5th. Wedbush raised their target price on Booking from $211.00 to $247.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, DA Davidson set a $240.00 target price on Booking in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Booking presently has a consensus rating of “Moderate Buy” and a consensus price target 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 slower macroeconomic environment, supporting the outlook for Booking’s accommodation and travel-reservation businesses. Booking Holdings Stock: A Travel Stock to Buy Right Now?
• Positive Sentiment: Analyst-oriented coverage continues to characterize Booking as a growth stock, reflecting its scale, profitability and potential for continued expansion in online travel. The company’s most recent reported quarter also exceeded earnings and revenue expectations, providing fundamental support. Why Booking Holdings Is a Strong Growth Stock
• Neutral Sentiment: Booking executives recently participated in Goldman Sachs and Citi technology conferences. The transcripts may provide insight into demand trends, artificial intelligence, competition and capital allocation, but the available headlines do not identify a specific new forecast or material change in guidance. Goldman Sachs Conference Transcript Citi Conference Transcript
• Negative Sentiment: The European court rejected Booking’s challenge to the EU veto of its ETraveli acquisition, effectively ending the company’s effort to purchase the flight-booking platform. The ruling removes a potential avenue for expansion and could weigh on investor sentiment regarding Booking’s regulatory exposure and acquisition strategy. Booking Loses Court Fight Against EU Veto of ETraveli Deal

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.