Symphony Financial Ltd. Co. Boosts Stock Position in Booking Holdings Inc. $BKNG

Symphony Financial Ltd. Co. lifted its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,405.9% during the 2nd quarter, Holdings Channel reports. The firm owned 2,982 shares of the business services provider’s stock after buying an additional 2,863 shares during the period. Symphony Financial Ltd. Co.’s holdings in Booking were worth $542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Booking during the second quarter worth about $11,687,000. MBM Wealth Consultants LLC grew its holdings in Booking by 2,860.8% during the second quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider’s stock worth $2,238,000 after acquiring an additional 12,130 shares during the period. Life Cycle Investment Partners Ltd acquired a new position in shares of Booking during the 4th quarter worth $361,463,000. Merit Financial Group LLC increased its holdings in Booking by 1,663.9% in the second quarter. Merit Financial Group LLC now owns 28,698 shares of the business services provider’s stock valued at $5,115,000 after buying an additional 27,071 shares in the last quarter. Finally, Rit Capital Partners PLC purchased a new position in Booking in the 4th quarter valued at approximately $51,396,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Price Performance

NASDAQ:BKNG opened at $199.60 on Thursday. The stock has a market cap of $149.98 billion, a P/E ratio of 22.09, a PEG ratio of 1.21 and a beta of 1.07. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $226.10. The firm has a 50-day moving average of $193.71 and a two-hundred day moving average of $178.12.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the business earned $55.40 EPS. Booking’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts expect that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Dividend Announcement

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

Key Stories Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Buy/Strong Buy rating and a $245 price target, implying roughly 23% upside from the referenced share price. The firm considers Booking one of the best-positioned online travel agencies despite industry challenges. Rosenblatt sees Booking as the best-positioned online travel agency
• Positive Sentiment: Recent operating results support the bullish analyst view. Booking’s latest reported quarter exceeded consensus estimates for both earnings and revenue, with revenue increasing 8.1% year over year. The company also recently declared a quarterly dividend of $0.42 per share.
• Positive Sentiment: Momentum-focused coverage was favorable. Zacks identified Booking as a strong momentum stock, noting its recent performance relative to the broader market. This may encourage continued interest from momentum-oriented investors. Why Booking is a strong momentum stock
• Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The commentary could provide insight into travel demand, but the available report does not indicate whether the trends were specifically positive or negative for Booking. Priceline CEO discusses travel trends
• Negative Sentiment: Insiders reported stock sales. Director Robert J. Mylod Jr. sold 1,000 shares for approximately $200,000, while insider Paulo Pisano sold 3,000 shares for about $610,440. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as signals of deteriorating business prospects. Booking insider stock sales

Analysts Set New Price Targets

Several equities analysts have weighed in on BKNG shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $230.00 target price on shares of Booking in a report on Wednesday, August 5th. Susquehanna reissued a “positive” rating and set a $240.00 price objective on shares of Booking in a research note on Thursday, August 6th. The Goldman Sachs Group set a $215.00 price target on Booking and gave the stock a “neutral” rating in a research note on Monday, July 20th. Robert W. Baird set a $230.00 price objective on shares of Booking in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group increased their target price on shares of Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Two research analysts have 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $236.70.

Insiders Place Their Bets

In related news, Director Robert J. Mylod, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director directly owned 14,000 shares of the company’s stock, valued at approximately $2,800,000. This represents a 6.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the sale, the chief financial officer owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. The trade was a 25.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 81,550 shares of company stock worth $16,922,744. Corporate insiders own 0.17% of the company’s stock.

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.