11,100 Booking Holdings Inc. $BKNG Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 12.1% in the 3rd quarter, Holdings Channel reports. The fund owned 80,535 shares of the business services provider’s stock after selling 11,100 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Booking were worth $13,120,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Formidable Asset Management LLC raised its position in Booking by 2,432.7% during the third quarter. Formidable Asset Management LLC now owns 8,510 shares of the business services provider’s stock valued at $1,517,000 after purchasing an additional 8,174 shares in the last quarter. United Advisor Group LLC boosted its holdings in shares of Booking by 90.5% in the 3rd quarter. United Advisor Group LLC now owns 3,296 shares of the business services provider’s stock worth $537,000 after purchasing an additional 1,566 shares in the last quarter. Twin Peaks Capital Ltd purchased a new position in shares of Booking in the 3rd quarter worth about $1,222,000. May Hill Capital LLC boosted its holdings in shares of Booking by 3.2% in the 3rd quarter. May Hill Capital LLC now owns 2,857 shares of the business services provider’s stock worth $465,000 after purchasing an additional 89 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in shares of Booking by 36.6% during the 3rd quarter. Alps Advisors Inc. now owns 32,437 shares of the business services provider’s stock valued at $5,284,000 after purchasing an additional 8,686 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

Insiders Place Their Bets

In other Booking news, Director Vanessa Wittman sold 375 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $211.00, for a total value of $79,125.00. Following the completion of the sale, the director owned 16,133 shares in the company, valued at approximately $3,404,063. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total value of $4,220,600.00. Following the sale, the chief financial officer directly owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. This trade represents a 25.06% 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 77,425 shares of company stock worth $16,004,164. 0.17% of the stock is currently owned by corporate insiders.

Booking Trading Down 4.8%

Shares of NASDAQ:BKNG opened at $160.66 on Friday. The stock has a market capitalization of $119.48 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.01 and a beta of 1.17. The stock’s 50-day moving average price is $166.49 and its 200-day moving average price is $176.13. Booking Holdings Inc. has a 12-month low of $146.28 and a 12-month high of $220.81.

Booking (NASDAQ:BKNG) last released its earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share for the quarter, beating analysts’ consensus estimates of $4.49 by $0.17. The company had revenue of $9.79 billion during the quarter, compared to analyst estimates of $9.55 billion. Booking had a negative return on equity of 89.54% and a net margin of 25.52%. Booking’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $99.50 EPS. As a group, research analysts predict that Booking Holdings Inc. will post 10.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BKNG. Morgan Stanley reissued an “overweight” rating and set a $200.00 price objective (down from $230.00) on shares of Booking in a report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Booking in a research note on Wednesday. Wells Fargo & Company reiterated a “positive” rating and set a $179.00 price target (down from $190.00) on shares of Booking in a research report on Wednesday. Mizuho set a $205.00 price target on shares of Booking in a research note on Wednesday. Finally, Melius Research set a $225.00 price objective on shares of Booking in a report on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.35.

About Booking

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.