Professional Advisory Services Inc. Increases Stock Position in Booking Holdings Inc. $BKNG

Professional Advisory Services Inc. lifted its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,412.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,331 shares of the business services provider’s stock after purchasing an additional 137,626 shares during the period. Booking accounts for about 3.1% of Professional Advisory Services Inc.’s holdings, making the stock its 16th biggest position. Professional Advisory Services Inc.’s holdings in Booking were worth $25,547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BKNG. Life Cycle Investment Partners Ltd purchased a new stake in Booking during the fourth quarter worth about $361,463,000. Rit Capital Partners PLC purchased a new position in Booking in the fourth quarter valued at about $51,396,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Booking during the 4th quarter valued at approximately $210,352,000. Cardano Risk Management B.V. grew its position in shares of Booking by 862.0% during the 4th quarter. Cardano Risk Management B.V. now owns 218,080 shares of the business services provider’s stock valued at $1,167,890,000 after acquiring an additional 195,411 shares during the period. Finally, Rathbones Group PLC increased its stake in shares of Booking by 20.5% during the 4th quarter. Rathbones Group PLC now owns 64,908 shares of the business services provider’s stock worth $347,604,000 after purchasing an additional 11,042 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group upped their price objective on Booking from $266.00 to $274.00 and gave the company a “buy” rating in a research note on Wednesday. Mizuho set a $240.00 target price on Booking in a research report on Wednesday. B. Riley Financial restated a “buy” rating and issued a $274.00 target price (up from $264.00) on shares of Booking in a research note on Wednesday. Royal Bank Of Canada dropped their price target on Booking from $244.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Finally, Benchmark lifted their price objective on Booking from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.69.

Booking Stock Performance

Shares of NASDAQ BKNG opened at $214.42 on Friday. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $231.80. The stock has a market cap of $161.11 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. The stock has a fifty day moving average of $179.43 and a 200-day moving average of $176.77.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) 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 business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the prior year, the firm posted $55.40 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts predict that Booking Holdings Inc. will post 10.33 EPS for the current year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio (DPR) is 18.58%.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

Insider Activity at Booking

In other news, VP Peter J. Millones sold 62,500 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the completion of the transaction, the vice president directly owned 425,075 shares in the company, valued at $69,572,025.25. The trade was a 12.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total transaction of $216,000.00. Following the completion of the transaction, the director directly owned 16,508 shares in the company, valued at approximately $3,169,536. The trade was a 6.38% decrease in their position. 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 90 days, insiders sold 69,625 shares of company stock valued at $11,652,075. Corporate insiders own 0.17% of the company’s stock.

Booking 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.