Empire Life Investments Inc. Acquires 84,176 Shares of Booking Holdings Inc. $BKNG

Empire Life Investments Inc. raised its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 2,093.4% in the second quarter, Holdings Channel reports. The fund owned 88,197 shares of the business services provider’s stock after acquiring an additional 84,176 shares during the period. Empire Life Investments Inc.’s holdings in Booking were worth $15,720,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wilkerson Advisory Group LLC lifted its holdings in shares of Booking by 3,550.0% during the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 142 shares in the last quarter. Strive Asset Management LLC bought a new stake in Booking during the 3rd quarter worth approximately $27,000. Camelot Portfolios LLC bought a new stake in Booking during the 4th quarter worth approximately $27,000. Swiss RE Ltd. acquired a new stake in Booking during the 4th quarter worth approximately $27,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Booking during the 4th quarter worth approximately $27,000. 92.42% of the stock is currently owned by institutional investors.

Booking Stock Performance

NASDAQ BKNG opened at $212.06 on Friday. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $231.80. The stock’s 50 day moving average price is $184.00 and its two-hundred day moving average price is $176.84. The stock has a market capitalization of $159.34 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.28 and a beta of 1.07.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share 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 period last year, the business earned $55.40 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that Booking Holdings Inc. will post 10.47 EPS for the current year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 0.8%. Booking’s dividend payout ratio is presently 18.58%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank Of Canada cut their price target on shares of Booking from $244.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Argus increased their price objective on shares of Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. dropped their price objective on shares of Booking from $224.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Mizuho set a $240.00 price objective on shares of Booking in a research report on Wednesday, August 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $240.00 target price (up from $215.00) on shares of Booking in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.72.

Insider Buying and Selling at Booking

In other Booking news, Director Vanessa Ames Wittman sold 1,125 shares of Booking stock in a transaction 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 sale, 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 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, VP Peter J. Millones sold 62,500 shares of the business’s stock in a transaction dated 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 sale, the vice president directly owned 425,075 shares in the company, valued at $69,572,025.25. This trade represents a 12.82% 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 ninety days, insiders have sold 89,625 shares of company stock worth $15,872,675. Company insiders own 0.17% of the company’s stock.

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.