Investors Purchase High Volume of Call Options on Booking (NASDAQ:BKNG)

Booking Holdings Inc. (NASDAQ:BKNG) was the target of some unusual options trading activity on Tuesday. Investors acquired 48,851 call options on the stock. This represents an increase of 225% compared to the average daily volume of 15,036 call options.

Booking Stock Performance

Shares of Booking stock traded down $2.40 on Tuesday, reaching $150.74. 3,537,098 shares of the company were exchanged, compared to its average volume of 8,098,970. Booking has a 1-year low of $149.87 and a 1-year high of $220.81. The firm has a market cap of $113.26 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 0.96 and a beta of 1.13. The company’s 50-day moving average is $177.22 and its two-hundred day moving average is $178.93.

Booking (NASDAQ:BKNG) last issued 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. The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates 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 for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $55.40 earnings per share. As a group, sell-side analysts forecast that Booking will post 10.48 earnings per share for the current year.

Booking Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were given a $0.42 dividend. The ex-dividend date was Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 1.1%. Booking’s dividend payout ratio is 18.58%.

Insider Buying and Selling at Booking

In other Booking news, CFO Ewout L. Steenbergen sold 20,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 59,794 shares in the company, valued at $12,618,327.82. The trade was a 25.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 50,050 shares of Booking stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $207.59, for a total value of $10,389,879.50. Following the sale, the vice president directly owned 375,025 shares in the company, valued at approximately $77,851,439.75. The trade was a 11.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 83,425 shares of company stock worth $17,210,864. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Booking

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda bought a new position in shares of Booking during the 1st quarter valued at about $345,000. Alesco Advisors LLC An ESL Co acquired a new position in shares of Booking in the 1st quarter worth approximately $400,000. Ascentis Independent Advisors lifted its stake in Booking by 163.6% during the first quarter. Ascentis Independent Advisors now owns 116 shares of the business services provider’s stock valued at $488,000 after purchasing an additional 72 shares during the last quarter. Inceptionr LLC bought a new stake in Booking during the first quarter worth approximately $505,000. Finally, Oslo Pensjonsforsikring AS acquired a new position in Booking in the first quarter worth approximately $509,000. Institutional investors own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

BKNG has been the topic of a number of recent analyst reports. Argus upped their target price on Booking from $210.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, August 10th. TD Cowen raised shares of Booking to a “strong-buy” rating in a research report on Monday, September 14th. Citigroup restated a “market perform” rating on shares of Booking in a research note on Thursday, September 24th. BTIG Research reissued a “buy” rating and issued a $250.00 target price on shares of Booking in a research report on Thursday, October 22nd. Finally, Morgan Stanley set a $230.00 target price on shares of Booking and gave the company an “overweight” rating in a research note on Wednesday, September 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $233.71.

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.