Van ECK Associates Corp Grows Position in Booking Holdings Inc. $BKNG

Van ECK Associates Corp raised its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,403.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 32,491 shares of the business services provider’s stock after purchasing an additional 31,193 shares during the quarter. Van ECK Associates Corp’s holdings in Booking were worth $5,791,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Bogart Wealth LLC grew its stake in Booking by 3,475.0% in the 2nd quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock worth $25,000 after acquiring an additional 139 shares in the last quarter. Wilkerson Advisory Group LLC raised its holdings in Booking by 3,550.0% in the second quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock worth $26,000 after purchasing an additional 142 shares in the last quarter. Osbon Capital Management LLC purchased a new stake in shares of Booking during the 4th quarter valued at $27,000. First Financial Corp IN boosted its stake 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 worth $27,000 after purchasing an additional 144 shares in the last quarter. Finally, Roble Belko & Company Inc lifted its position in Booking by 2,400.0% during the 2nd quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider’s stock worth $27,000 after acquiring an additional 144 shares during the period. 92.42% of the stock is currently owned by institutional investors.

Booking News Summary

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

Booking Trading Up 2.0%

NASDAQ:BKNG opened at $199.60 on Thursday. The firm 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. The stock’s 50 day simple moving average is $193.71 and its 200-day simple moving average is $178.12. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $226.10.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results 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. The firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $55.40 earnings per share. Research analysts forecast that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 0.8%. Booking’s payout ratio is currently 18.58%.

Insiders Place Their Bets

In other Booking news, insider Paulo Pisano sold 3,000 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $203.48, for a total transaction of $610,440.00. Following the completion of the transaction, the insider owned 73,400 shares of the company’s stock, valued at approximately $14,935,432. This trade represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 14,000 shares of the company’s stock, valued at $2,800,000. The trade was a 6.67% 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. Over the last ninety days, insiders sold 81,550 shares of company stock worth $16,922,744. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on BKNG shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $230.00 price target on shares of Booking in a research report on Wednesday, August 5th. Bank of America reissued a “buy” rating and set a $234.00 price target on shares of Booking in a research report on Wednesday, August 5th. Susquehanna reissued a “positive” rating and issued a $240.00 price target on shares of Booking in a research note on Thursday, August 6th. Mizuho set a $240.00 price target on shares of Booking in a research note on Wednesday, August 5th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $188.00 price objective on shares of Booking in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $236.70.

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.