Rockland Trust Co. Increases Stake in Booking Holdings Inc. $BKNG

Rockland Trust Co. raised its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,400.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,500 shares of the business services provider’s stock after purchasing an additional 2,400 shares during the quarter. Rockland Trust Co.’s holdings in Booking were worth $446,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Legacy Bridge LLC purchased a new stake in shares of Booking during the fourth quarter valued at approximately $27,000. Camelot Portfolios LLC purchased a new position in Booking in the 4th quarter worth approximately $27,000. Osbon Capital Management LLC purchased a new position in Booking in the 4th quarter worth approximately $27,000. First Financial Corp IN lifted its position in Booking by 2,400.0% in the 2nd quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 144 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Booking during the 4th quarter valued at $27,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup reissued a “buy” rating and issued a $236.00 target price (up from $225.00) on shares of Booking in a report on Wednesday. UBS Group lifted their price objective on Booking from $266.00 to $274.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler reissued a “neutral” rating and issued a $215.00 target price (up from $195.00) on shares of Booking in a research report on Wednesday. Jefferies Financial Group upped their target price on shares of Booking from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Finally, BTIG Research reaffirmed a “buy” rating and set a $250.00 price target on shares of Booking in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.69.

Booking Stock Performance

Shares of Booking stock opened at $214.42 on Friday. The stock has a market cap of $161.11 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.31 and a beta of 1.07. The stock’s fifty day moving average is $179.43 and its 200 day moving average is $176.56. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $231.80.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.11. The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.Booking’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $55.40 earnings per share. Analysts predict that Booking Holdings Inc. will post 10.43 EPS for the current year.

Booking Dividend Announcement

The business 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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s payout ratio is presently 18.58%.

Key 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 related news, Director Vanessa Ames Wittman sold 1,125 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the sale, the director directly owned 16,508 shares of the company’s stock, valued at approximately $3,169,536. This represents a 6.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the director directly owned 16,000 shares of the company’s stock, valued at $3,200,000. This represents a 23.81% decrease in their ownership of the stock. 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 69,625 shares of company stock worth $11,652,075. 0.17% of the stock is owned by company insiders.

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.