TRB Wealth Management LLC Purchases Shares of 2,625 Booking Holdings Inc. $BKNG

TRB Wealth Management LLC purchased a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,625 shares of the business services provider’s stock, valued at approximately $468,000.

Several other hedge funds have also made changes to their positions in BKNG. Strive Asset Management LLC purchased a new stake in Booking in the 3rd quarter valued at about $27,000. Camelot Portfolios LLC acquired a new position in shares of Booking during the 4th quarter valued at about $27,000. Swiss RE Ltd. purchased a new position in shares of Booking during the 4th quarter worth about $27,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Booking during the 4th quarter worth about $27,000. Finally, Osbon Capital Management LLC acquired a new stake in shares of Booking in the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BKNG shares. Cantor Fitzgerald boosted their target price on shares of Booking from $175.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. HSBC cut their price target on shares of Booking from $309.84 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Mizuho set a $240.00 price target on shares of Booking in a report on Wednesday, August 5th. Wells Fargo & Company set a $220.00 price objective on shares of Booking and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler restated a “neutral” rating and set a $215.00 price objective (up from $195.00) on shares of Booking in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.72.

Insider Buying and Selling at Booking

In other news, Director Robert J. Mylod, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total value of $1,000,000.00. Following the transaction, the director owned 16,000 shares of the company’s stock, valued at approximately $3,200,000. This trade represents a 23.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Booking 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 transaction, the vice president owned 425,075 shares in the company, valued at $69,572,025.25. The trade was a 12.82% 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 quarter, insiders sold 140,050 shares of company stock worth $26,341,680. 0.17% of the stock is currently owned by insiders.

Booking Stock Performance

Shares of NASDAQ:BKNG opened at $209.62 on Friday. The stock has a 50-day simple moving average of $188.60 and a 200-day simple moving average of $177.19. The stock has a market capitalization of $157.50 billion, a P/E ratio of 23.20, a PEG ratio of 1.27 and a beta of 1.07. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $231.80.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating the consensus estimate of $2.43 by $0.11. The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. Booking’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $55.40 earnings per share. Analysts predict that Booking Holdings Inc. will post 10.47 earnings per share for the current year.

Booking Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. Booking’s dividend payout ratio is presently 18.58%.

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.