Tocqueville Asset Management L.P. Makes New Investment in Booking Holdings Inc. $BKNG

Tocqueville Asset Management L.P. bought a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 223,141 shares of the business services provider’s stock, valued at approximately $39,773,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC grew its stake in Booking by 3,475.0% in the second quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock worth $25,000 after purchasing an additional 139 shares in the last quarter. Wilkerson Advisory Group LLC increased its holdings in Booking by 3,550.0% during the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock worth $26,000 after purchasing an additional 142 shares during the period. Camelot Portfolios LLC bought a new stake in Booking during the 4th quarter valued at $27,000. Osbon Capital Management LLC bought a new stake in Booking during the 4th quarter valued at $27,000. Finally, First Financial Corp IN lifted its holdings in shares of Booking by 2,400.0% in the 2nd quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock worth $27,000 after buying an additional 144 shares during the period. Institutional investors own 92.42% of the company’s stock.

Key Stories Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s KAYAK brand reported that international airfares for U.K. travelers in September and October are averaging 26% below peak-season levels. Cheaper “shoulder-season” travel could encourage additional bookings and support demand across Booking’s accommodation and travel platforms. KAYAK shoulder-season travel research
• Positive Sentiment: Recent fundamentals remain supportive. Booking’s latest quarterly revenue rose 8.1% year over year to $7.35 billion and earnings exceeded analyst expectations. Analysts maintain a broadly favorable view, with a “Moderate Buy” consensus and an average price target of $235.72, above recent trading levels. Booking growth-stock analysis
• Neutral Sentiment: Booking declared a quarterly dividend of $0.42 per share, or $1.68 annually, representing an approximately 0.8% yield. The payout signals ongoing shareholder returns but is modest and is unlikely to materially affect the stock’s near-term direction.
• Negative Sentiment: Booking Vice President Peter Millones sold 50,050 shares worth approximately $10.4 million, reducing his position by 11.77%. Director Vanessa Ames Wittman separately sold 375 shares for about $79,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as bearish signals; Millones still retains roughly $77.9 million in BKNG stock. Booking insider share sales

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BKNG. Wedbush increased their price target on Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. BTIG Research restated a “buy” rating and issued a $250.00 price objective on shares of Booking in a report on Wednesday, August 5th. Cantor Fitzgerald upped their price objective on shares of Booking from $175.00 to $220.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Robert W. Baird set a $230.00 target price on shares of Booking in a report on Wednesday, August 5th. Finally, Wells Fargo & Company set a $220.00 target price on shares of Booking and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. One research analyst has 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $235.72.

Booking Trading Up 2.3%

Shares of NASDAQ:BKNG opened at $213.00 on Thursday. The company has a market capitalization of $160.04 billion, a PE ratio of 23.57, a P/E/G ratio of 1.26 and a beta of 1.07. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $231.80. The business’s fifty day simple moving average is $186.78 and its 200-day simple moving average is $177.12.

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 10.47 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 0.8%. Booking’s payout ratio is currently 18.58%.

Insider Activity

In other news, Director Vanessa Ames Wittman sold 375 shares of Booking stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $211.00, for a total value of $79,125.00. Following the transaction, the director owned 16,133 shares of the company’s stock, valued at $3,404,063. The trade was a 2.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the transaction, the chief financial officer owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. This trade represents a 25.06% 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. In the last ninety days, insiders sold 140,050 shares of company stock valued at $26,341,680. Corporate insiders own 0.17% of the company’s stock.

About Booking

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.