Booking Target of Unusually High Options Trading (NASDAQ:BKNG)

Booking Holdings Inc. (NASDAQ:BKNG) was the recipient of some unusual options trading on Tuesday. Stock investors bought 21,239 call options on the company. This is an increase of approximately 31% compared to the average daily volume of 16,213 call options.

Insiders Place Their Bets

In other Booking news, VP Peter J. Millones sold 62,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the completion of the sale, the vice president owned 425,075 shares in the company, valued at $69,572,025.25. This trade represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Booking

A number of large investors have recently bought and sold shares of the business. J. Stern & Co. LLP lifted its holdings in shares of Booking by 191,965.8% in the 4th quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock worth $15,171,489,000 after purchasing an additional 2,831,495 shares during the last quarter. Bank of Nova Scotia lifted its stake in Booking by 1,497.3% in the first quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider’s stock valued at $3,665,168,000 after buying an additional 816,022 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Booking by 66,209.8% during the second quarter. Assenagon Asset Management S.A. now owns 659,783 shares of the business services provider’s stock valued at $117,600,000 after acquiring an additional 658,788 shares during the period. Handelsbanken Fonder AB grew its position in shares of Booking by 2,548.6% during the second quarter. Handelsbanken Fonder AB now owns 649,602 shares of the business services provider’s stock worth $115,785,000 after acquiring an additional 625,076 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Booking during the fourth quarter worth about $3,271,041,000. Institutional investors own 92.42% of the company’s stock.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Long-term growth appeal: A Zacks analysis identifies Booking Holdings as a potentially attractive growth stock, supporting investor interest in the company’s ability to generate market-beating returns over time. Why Booking Holdings Is a Top Growth Stock for the Long-Term
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased 21,239 BKNG call options, about 31% above the typical daily volume. This suggests increased speculative optimism, although options activity alone does not guarantee sustained buying in the stock.
• Positive Sentiment: Travel demand remains healthy: Search data from KAYAK, a Booking Holdings brand, showed French families continuing to plan summer travel, particularly short-haul beach and holiday trips. The data provides a modestly positive signal for demand across Booking’s travel ecosystem. KAYAK Summer Travel Search Data
• Neutral Sentiment: Upcoming earnings are the next major catalyst: Wall Street expects earnings growth in Booking’s report next week, but analysts note the company lacks the combination of factors that typically supports a likely earnings beat. Investors may therefore remain cautious until the company provides updated guidance and results. Booking Holdings Reports Next Week
• Negative Sentiment: Competitive pressure: Bank of America launched a broad travel center powered by Rocket Travel by Agoda, offering nearly one million travel options. The expanded Agoda-backed platform could increase competition for Booking’s hotel, flight and activity bookings. Bank of America Launches Travel Center

Analysts Set New Price Targets

Several research firms have recently commented on BKNG. Citigroup reiterated a “market perform” rating on shares of Booking in a research note on Tuesday. DA Davidson dropped their price target on shares of Booking from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Argus set a $210.00 price target on shares of Booking and gave the company a “buy” rating in a report on Thursday, July 9th. Oppenheimer reiterated an “outperform” rating and set a $215.00 price objective (down from $240.00) on shares of Booking in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group raised their price objective on shares of Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Booking presently has a consensus rating of “Moderate Buy” and an average target price of $227.05.

Booking Trading Up 6.7%

BKNG stock opened at $199.31 on Wednesday. The firm has a market cap of $154.44 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.12 and a beta of 1.07. Booking has a 12-month low of $150.14 and a 12-month high of $231.80. The stock’s 50 day simple moving average is $173.51 and its 200 day simple moving average is $177.58.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. The firm had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.52 billion. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The firm’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, research analysts forecast that Booking will post 10.44 EPS for the current fiscal year.

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.