Booking Holdings Inc. $BKNG Stock: ProShare Advisors LLC Cuts Holdings

ProShare Advisors LLC reduced its position in Booking Holdings Inc. (NASDAQ:BKNG) by 0.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 842,698 shares of the business services provider’s stock after selling 5,765 shares during the period. ProShare Advisors LLC’s holdings in Booking were worth $137,284,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Vise Technologies Inc. increased its holdings in shares of Booking by 11.7% during the third quarter. Vise Technologies Inc. now owns 38,436 shares of the business services provider’s stock valued at $6,262,000 after acquiring an additional 4,011 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in shares of Booking by 8.6% during the 3rd quarter. Cidel Asset Management Inc. now owns 3,669 shares of the business services provider’s stock worth $598,000 after acquiring an additional 292 shares during the period. Summit Global Investments lifted its stake in shares of Booking by 21.7% in the third quarter. Summit Global Investments now owns 13,019 shares of the business services provider’s stock worth $2,121,000 after buying an additional 2,318 shares in the last quarter. MGO One Seven LLC raised its position in Booking by 4.7% in the third quarter. MGO One Seven LLC now owns 28,194 shares of the business services provider’s stock worth $4,593,000 after acquiring an additional 1,268 shares during the period. Finally, Greatmark Investment Partners Inc. grew its position in shares of Booking by 4.4% during the third quarter. Greatmark Investment Partners Inc. now owns 65,980 shares of the business services provider’s stock worth $10,749,000 after purchasing an additional 2,805 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director directly owned 14,000 shares of the company’s stock, valued at $2,800,000. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter Millones, Jr. sold 50,050 shares of the business’s 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 completion of the transaction, the vice president directly owned 375,025 shares in the company, valued at $77,851,439.75. This represents a 11.77% 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. Over the last three months, insiders sold 78,425 shares of company stock valued at $16,210,864. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on BKNG shares. TD Cowen raised Booking to a “strong-buy” rating in a research report on Monday, September 14th. Cantor Fitzgerald reduced their price target on shares of Booking from $220.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Rosenblatt Securities initiated coverage on Booking in a research note on Tuesday, September 1st. They set a “buy” rating and a $245.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $230.00 price target on shares of Booking in a report on Wednesday, August 5th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $250.00 price objective (up from $240.00) on shares of Booking in a research report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and an average price target of $233.07.

Booking Price Performance

Shares of NASDAQ:BKNG opened at $148.13 on Friday. The business’s fifty day moving average price is $171.26 and its two-hundred day moving average price is $177.25. The stock has a market capitalization of $111.30 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 0.93 and a beta of 1.13. Booking Holdings Inc. has a fifty-two week low of $146.28 and a fifty-two week high of $220.81.

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 the consensus estimate 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 analysts’ expectations of $7.19 billion. During the same quarter in the previous year, the company earned $55.40 EPS. Booking’s revenue was up 8.1% on a year-over-year basis. Research analysts expect that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Booking Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were paid a $0.42 dividend. The ex-dividend date was Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 1.1%. Booking’s payout ratio is 18.58%.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s global travel leadership, high margins and strong cash-flow generation remain important supports for the investment case. Its cash position could provide flexibility for share repurchases, investment and other shareholder returns. Booking vs. Coupang: Which Stock Is the Better Buy in November?
• Positive Sentiment: Investors will be watching for continued progress in loyalty adoption and the Connected Trip initiative, which aims to increase customer engagement and cross-selling across accommodations, flights, rental cars and other travel services. Strong execution could improve longer-term growth expectations. The Connected Trip Gamble
• Neutral Sentiment: BKNG has attracted unusually high investor attention and options activity ahead of earnings. This may increase short-term volatility, but the available reports do not indicate whether traders are positioning for a rise or decline. Booking Sees Unusually Large Options Volume
• Neutral Sentiment: Analysts are focused not only on revenue and earnings per share but also on operating metrics and other key indicators for the September quarter. These estimates could set the bar for the earnings reaction. Exploring Analyst Estimates for Booking Holdings Q3 Earnings
• Negative Sentiment: Currency headwinds could reduce the reported value of international bookings and earnings, while travel disruptions may weigh on demand or create additional costs. Booking Holdings Q3 Earnings Ahead
• Negative Sentiment: Higher marketing spending may pressure profitability even if bookings and revenue continue to grow. Investors are therefore likely to scrutinize margins, guidance and management’s outlook. Booking Holdings Q3 Earnings Ahead: What’s in Store for the Stock?
• Negative Sentiment: The shares have declined substantially and are trading near their 12-month low, reflecting elevated expectations risk ahead of the report. Any weak guidance or disappointment in Connected Trip adoption could add further pressure.

Booking Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.