NewEdge Advisors LLC Increases Holdings in Booking Holdings Inc. $BKNG

NewEdge Advisors LLC raised its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,591.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 88,822 shares of the business services provider’s stock after buying an additional 85,522 shares during the quarter. NewEdge Advisors LLC’s holdings in Booking were worth $16,424,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BKNG. Bogart Wealth LLC raised its position in shares of Booking by 3,475.0% during 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 boosted 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 valued at $26,000 after purchasing an additional 142 shares in the last quarter. Osbon Capital Management LLC acquired a new position in Booking in the fourth quarter valued at approximately $27,000. First Financial Corp IN increased its stake in Booking by 2,400.0% in the second quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 144 shares during the last quarter. Finally, Roble Belko & Company Inc increased its stake in Booking by 2,400.0% in the second quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Stock Performance

NASDAQ BKNG opened at $174.33 on Friday. The firm’s fifty day moving average is $194.18 and its two-hundred day moving average is $178.83. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $225.00. The firm has a market cap of $130.99 billion, a PE ratio of 19.29, a P/E/G ratio of 1.07 and a beta of 1.07.

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

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s dividend payout ratio (DPR) is presently 18.58%.

Analysts Set New Price Targets

BKNG has been the subject of several recent analyst reports. Benchmark boosted their price objective on shares of Booking from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Robert W. Baird set a $230.00 target price on shares of Booking in a research report on Wednesday, August 5th. Sanford C. Bernstein reiterated a “market perform” rating and set a $188.00 price target on shares of Booking in a research note on Wednesday, August 26th. BTIG Research reissued a “buy” rating and issued a $250.00 price target on shares of Booking in a research report on Thursday, August 27th. Finally, Piper Sandler restated a “neutral” rating and issued a $215.00 price objective (up from $195.00) on shares of Booking in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $236.70.

Booking News Roundup

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Travel demand remains resilient despite geopolitical conflicts and a slowing macroeconomic environment, supporting the long-term outlook for Booking’s core lodging and travel businesses. Booking Holdings Stock: A Travel Stock to Buy Right Now?
• Neutral Sentiment: Booking presented at the Goldman Sachs Communacopia + Technology Conference and Citi’s Global TMT Conference. The available reports are conference transcripts and do not identify a major new catalyst for the stock. Goldman Sachs Conference Transcript Citi Conference Transcript
• Neutral Sentiment: A September short-interest update reported zero shares short, unchanged from the prior period, with a zero-day days-to-cover ratio. Because the figures show no measurable short position, the update provides little directional information.
• Negative Sentiment: The European General Court sided with EU regulators in rejecting Booking’s challenge to the veto of its ETraveli acquisition. The decision ends Booking’s effort to complete the deal and represents a setback to its strategic expansion plans. Judges Side With EU Regulators in Blocking Booking’s Acquisition of ETraveli

Insider Activity at Booking

In other Booking news, Director Robert Mylod, Jr. sold 1,000 shares of Booking stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 14,000 shares in the company, valued at approximately $2,800,000. This trade represents a 6.67% decrease in their position. 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, Director Vanessa Wittman sold 375 shares of Booking stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $211.00, for a total value of $79,125.00. Following the completion of the transaction, the director owned 16,133 shares in the company, valued at $3,404,063. This trade represents a 2.27% 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. Insiders sold 81,550 shares of company stock worth $16,922,744 in the last ninety days. Company insiders own 0.17% of the company’s stock.

Booking Company Profile

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.