Diversify Advisory Services LLC Takes $980,000 Position in Booking Holdings Inc. $BKNG

by · The Markets Daily

Diversify Advisory Services LLC purchased a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,248 shares of the business services provider’s stock, valued at approximately $980,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Booking in the second quarter valued at approximately $11,646,302,000. Deutsche Bank AG purchased a new position in shares of Booking in the second quarter valued at $1,691,186,000. Bank of New York Mellon Corp purchased a new position in shares of Booking in the second quarter valued at $1,370,455,000. J. Stern & Co. LLP grew its holdings in Booking by 191,965.8% during the 4th quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock valued at $15,171,489,000 after purchasing an additional 2,831,495 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Booking during the 2nd quarter valued at $472,723,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Price Performance

Shares of BKNG stock opened at $213.00 on Thursday. The firm has a market cap of $160.04 billion, a P/E ratio of 23.57, a P/E/G ratio of 1.26 and a beta of 1.07. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $231.80. The firm has a fifty day moving average of $186.78 and a two-hundred day moving average of $177.12.

Booking (NASDAQ:BKNG – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping the consensus estimate of $2.43 by $0.11. The business had revenue of $7.35 billion for 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 company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $55.40 earnings per share. On average, sell-side analysts expect that Booking Holdings Inc. will post 10.47 EPS for the current year.

Booking Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given a $0.42 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. Booking’s dividend payout ratio (DPR) is presently 18.58%.

Insider Transactions at Booking

In other Booking news, VP Peter J. Millones sold 50,050 shares of Booking stock in a transaction on Monday, August 17th. The shares were sold at an average price of $207.59, for a total value of $10,389,879.50. Following the completion of the transaction, the vice president owned 375,025 shares of the company’s stock, valued at $77,851,439.75. The trade was a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 375 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $211.00, for a total transaction of $79,125.00. Following the sale, the director owned 16,133 shares of the company’s stock, valued at approximately $3,404,063. The trade was a 2.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 140,050 shares of company stock valued at $26,341,680 over the last 90 days. Insiders own 0.17% of the company’s stock.

Booking News Summary

Here are the key news stories impacting Booking this week:

  • Positive Sentiment: Booking’s KAYAK brand reported that international airfares for U.K. travelers in September and October are averaging 26% below peak-season levels. Cheaper “shoulder-season” travel could encourage additional bookings and support demand across Booking’s accommodation and travel platforms. KAYAK shoulder-season travel research
  • Positive Sentiment: Recent fundamentals remain supportive. Booking’s latest quarterly revenue rose 8.1% year over year to $7.35 billion and earnings exceeded analyst expectations. Analysts maintain a broadly favorable view, with a “Moderate Buy” consensus and an average price target of $235.72, above recent trading levels. Booking growth-stock analysis
  • Neutral Sentiment: Booking declared a quarterly dividend of $0.42 per share, or $1.68 annually, representing an approximately 0.8% yield. The payout signals ongoing shareholder returns but is modest and is unlikely to materially affect the stock’s near-term direction.
  • Negative Sentiment: Booking Vice President Peter Millones sold 50,050 shares worth approximately $10.4 million, reducing his position by 11.77%. Director Vanessa Ames Wittman separately sold 375 shares for about $79,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as bearish signals; Millones still retains roughly $77.9 million in BKNG stock. Booking insider share sales

Analyst Ratings Changes

A number of brokerages have commented on BKNG. Wedbush boosted their price objective on shares of Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Wells Fargo & Company set a $220.00 target price on Booking and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Piper Sandler reaffirmed a “neutral” rating and set a $215.00 target price (up from $195.00) on shares of Booking in a research report on Wednesday, August 5th. Cantor Fitzgerald boosted their price target on Booking from $175.00 to $220.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, Truist Financial set a $242.00 price target on Booking in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.72.

Get Our Latest Stock Analysis on Booking

Booking Profile

(Free Report)

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.

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