Booking Holdings Inc. $BKNG Position Trimmed by Profund Advisors LLC

Profund Advisors LLC lowered its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 6.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,994 shares of the business services provider’s stock after selling 5,748 shares during the period. Profund Advisors LLC’s holdings in Booking were worth $12,706,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Booking during the second quarter worth $11,646,302,000. State Street Corp increased its holdings in shares of Booking by 2,674.6% during the 2nd quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock worth $7,026,348,000 after purchasing an additional 37,999,915 shares during the period. Bank of Nova Scotia lifted its holdings in Booking by 1,497.3% during the 1st quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider’s stock valued at $3,665,168,000 after purchasing an additional 816,022 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Booking in the 2nd quarter valued at $1,691,186,000. Finally, Bank of New York Mellon Corp acquired a new stake in Booking in the second quarter worth $1,370,455,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s global travel leadership, high margins and strong cash-flow generation remain important supports for the investment case. Its cash position could provide flexibility for share repurchases, investment and other shareholder returns. Booking vs. Coupang: Which Stock Is the Better Buy in November?
• Positive Sentiment: Investors will be watching for continued progress in loyalty adoption and the Connected Trip initiative, which aims to increase customer engagement and cross-selling across accommodations, flights, rental cars and other travel services. Strong execution could improve longer-term growth expectations. The Connected Trip Gamble
• Neutral Sentiment: BKNG has attracted unusually high investor attention and options activity ahead of earnings. This may increase short-term volatility, but the available reports do not indicate whether traders are positioning for a rise or decline. Booking Sees Unusually Large Options Volume
• Neutral Sentiment: Analysts are focused not only on revenue and earnings per share but also on operating metrics and other key indicators for the September quarter. These estimates could set the bar for the earnings reaction. Exploring Analyst Estimates for Booking Holdings Q3 Earnings
• Negative Sentiment: Currency headwinds could reduce the reported value of international bookings and earnings, while travel disruptions may weigh on demand or create additional costs. Booking Holdings Q3 Earnings Ahead
• Negative Sentiment: Higher marketing spending may pressure profitability even if bookings and revenue continue to grow. Investors are therefore likely to scrutinize margins, guidance and management’s outlook. Booking Holdings Q3 Earnings Ahead: What’s in Store for the Stock?
• Negative Sentiment: The shares have declined substantially and are trading near their 12-month low, reflecting elevated expectations risk ahead of the report. Any weak guidance or disappointment in Connected Trip adoption could add further pressure.

Wall Street Analyst Weigh In

BKNG has been the subject of a number of recent research reports. Citigroup reissued a “market perform” rating on shares of Booking in a research report on Thursday, September 24th. TD Cowen raised Booking to a “strong-buy” rating in a report on Monday, September 14th. Mizuho set a $240.00 price target on shares of Booking in a research report on Wednesday, August 5th. B. Riley Financial restated a “buy” rating and issued a $274.00 price objective (up from $264.00) on shares of Booking in a report on Wednesday, August 5th. Finally, Wedbush lifted their price target on shares of Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.07.

Insider Activity

In other news, CFO Ewout L. Steenbergen sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total value of $4,220,600.00. Following the completion of the transaction, the chief financial officer directly owned 59,794 shares in the company, valued at $12,618,327.82. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director owned 14,000 shares in the company, valued at $2,800,000. This trade represents a 6.67% 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. Over the last ninety days, insiders sold 78,425 shares of company stock valued at $16,210,864. 0.17% of the stock is owned by corporate insiders.

Booking Stock Performance

Shares of BKNG opened at $148.13 on Friday. Booking Holdings Inc. has a fifty-two week low of $146.28 and a fifty-two week high of $220.81. The stock has a market cap of $111.30 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 0.93 and a beta of 1.13. The firm’s 50-day simple moving average is $171.26 and its two-hundred day simple moving average is $177.25.

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

Booking Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, September 11th. Booking’s dividend payout ratio is currently 18.58%.

About Booking

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.