Royal Bank of Canada Has $537.34 Million Stock Position in Booking Holdings Inc. $BKNG

Royal Bank of Canada trimmed its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 13.4% during the first quarter, HoldingsChannel.com reports. The fund owned 127,624 shares of the business services provider’s stock after selling 19,795 shares during the quarter. Royal Bank of Canada’s holdings in Booking were worth $537,336,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BKNG. Daytona Street Capital LLC acquired a new position in Booking in the fourth quarter valued at about $27,000. Legacy Bridge LLC bought a new stake in shares of Booking during the fourth quarter valued at approximately $27,000. Camelot Portfolios LLC bought a new stake in shares of Booking during the fourth quarter valued at approximately $27,000. Osbon Capital Management LLC acquired a new stake in shares of Booking in the fourth quarter valued at approximately $27,000. Finally, Mcguire Capital Advisors Inc. bought a new position in Booking in the 4th quarter worth approximately $27,000. Institutional investors own 92.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Peter J. Millones sold 62,500 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the transaction, the vice president owned 425,075 shares of the company’s stock, valued at $69,572,025.25. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.17% of the stock is currently owned by company insiders.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Long-term growth appeal: A Zacks analysis identifies Booking Holdings as a potentially attractive growth stock, supporting investor interest in the company’s ability to generate market-beating returns over time. Why Booking Holdings Is a Top Growth Stock for the Long-Term
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased 21,239 BKNG call options, about 31% above the typical daily volume. This suggests increased speculative optimism, although options activity alone does not guarantee sustained buying in the stock.
• Positive Sentiment: Travel demand remains healthy: Search data from KAYAK, a Booking Holdings brand, showed French families continuing to plan summer travel, particularly short-haul beach and holiday trips. The data provides a modestly positive signal for demand across Booking’s travel ecosystem. KAYAK Summer Travel Search Data
• Neutral Sentiment: Upcoming earnings are the next major catalyst: Wall Street expects earnings growth in Booking’s report next week, but analysts note the company lacks the combination of factors that typically supports a likely earnings beat. Investors may therefore remain cautious until the company provides updated guidance and results. Booking Holdings Reports Next Week
• Negative Sentiment: Competitive pressure: Bank of America launched a broad travel center powered by Rocket Travel by Agoda, offering nearly one million travel options. The expanded Agoda-backed platform could increase competition for Booking’s hotel, flight and activity bookings. Bank of America Launches Travel Center

Booking Stock Performance

NASDAQ:BKNG opened at $199.31 on Wednesday. The firm’s 50-day simple moving average is $173.51 and its 200 day simple moving average is $177.58. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $231.80. The firm has a market cap of $154.44 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 1.12 and a beta of 1.07.

Booking (NASDAQ:BKNG) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. The company had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. Sell-side analysts anticipate that Booking Holdings Inc. will post 10.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BKNG shares. Royal Bank Of Canada cut their price objective on shares of Booking from $244.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. TD Cowen reiterated a “buy” rating and issued a $230.00 target price (down from $240.00) on shares of Booking in a report on Wednesday, April 29th. Citigroup restated a “market perform” rating on shares of Booking in a report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on Booking from $210.00 to $202.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Finally, Barclays set a $210.00 price target on Booking and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.05.

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.