Renaissance Investment Group LLC Grows Stock Holdings in Booking Holdings Inc. $BKNG

Renaissance Investment Group LLC lifted its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 2,382.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 64,359 shares of the business services provider’s stock after buying an additional 61,766 shares during the quarter. Booking comprises approximately 2.3% of Renaissance Investment Group LLC’s portfolio, making the stock its 20th largest holding. Renaissance Investment Group LLC’s holdings in Booking were worth $11,471,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bar Harbor Wealth Management lifted its holdings in shares of Booking by 0.3% during the 4th quarter. Bar Harbor Wealth Management now owns 611 shares of the business services provider’s stock valued at $3,272,000 after acquiring an additional 2 shares in the last quarter. Westside Investment Management Inc. boosted its position in Booking by 22.2% during the 4th quarter. Westside Investment Management Inc. now owns 11 shares of the business services provider’s stock worth $59,000 after purchasing an additional 2 shares during the period. FSM Wealth Advisors LLC increased its holdings in Booking by 4.9% in the 4th quarter. FSM Wealth Advisors LLC now owns 43 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 2 shares in the last quarter. BLB&B Advisors LLC increased its holdings in Booking by 4.0% in the 4th quarter. BLB&B Advisors LLC now owns 52 shares of the business services provider’s stock valued at $278,000 after purchasing an additional 2 shares in the last quarter. Finally, Equity Wealth Partners LLC raised its position in Booking by 2.0% in the fourth quarter. Equity Wealth Partners LLC now owns 101 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 2 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Trading Up 0.2%

Shares of BKNG opened at $207.39 on Friday. The firm has a market cap of $155.83 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.32 and a beta of 1.07. The stock has a 50 day moving average of $178.49 and a 200-day moving average of $176.73. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $231.80.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) 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 analysts’ expectations 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 business posted $55.40 earnings per share. On average, sell-side analysts predict that Booking Holdings Inc. will post 10.28 earnings per share for the current fiscal year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s dividend payout ratio is 18.58%.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Q2 earnings and revenue beat expectations: Booking reported adjusted earnings of $2.54 per share versus the $2.43 consensus, while revenue rose 8.1% year over year to $7.35 billion, exceeding estimates of $7.19 billion. Growth in room nights, gross bookings and EBITDA pointed to continued travel demand. Booking Holdings Q2 results top estimates as travel demand remains resilient
• Positive Sentiment: Analysts raised targets and maintained bullish ratings: UBS lifted its target to $274 and kept a Buy rating, while Wedbush raised its target to $247 with an Outperform rating. Benchmark increased its target to $250, and BTIG reaffirmed its Buy rating with a $250 target. Booking Given New Price Target at UBS Group
• Positive Sentiment: Operational initiatives remain supportive: Management highlighted early benefits from artificial-intelligence personalization, higher savings and growth in its connected-trip offerings, which could support efficiency and longer-term expansion. BKNG Q2 Earnings Call Centers on Resilience, AI and Savings
• Neutral Sentiment: Dividend declared: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The modest 0.8% yield is supportive of shareholder returns but unlikely to materially affect valuation.
• Neutral Sentiment: Director stock sale: Director Robert J. Mylod Jr. sold 1,000 shares worth $206,700 under a pre-arranged Rule 10b5-1 plan. Because the sale was scheduled in advance and leaves him with 15,000 shares, it is not necessarily a bearish signal. SEC Form 4 filing
• Negative Sentiment: Near-term concerns temper the optimism: Third-quarter revenue guidance was viewed as soft, room-night growth is slowing, and marketing expenses are rising faster than revenue. Geopolitical volatility and competition from Google also remain risks, while some commentary warned that the recent rally has left the stock technically overbought. Why Analysts Are Bullish on a Stock That’s Down 20%

Insider Transactions at Booking

In other news, Director Robert J. Mylod, Jr. sold 5,000 shares of Booking stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total value of $1,000,000.00. Following the completion of the transaction, the director directly owned 16,000 shares of the company’s stock, valued at approximately $3,200,000. The trade was a 23.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the sale, the director directly owned 16,508 shares of the company’s stock, valued at approximately $3,169,536. This represents a 6.38% decrease in their position. 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 three months, insiders have sold 69,625 shares of company stock worth $11,652,075. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BKNG. Sanford C. Bernstein restated a “market perform” rating on shares of Booking in a research note on Thursday, June 11th. Bank of America reiterated a “buy” rating and issued a $234.00 target price on shares of Booking in a research note on Wednesday. Benchmark raised their target price on Booking from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday. Evercore set a $245.00 price target on Booking in a research report on Wednesday, April 29th. Finally, Argus set a $210.00 price target on Booking and gave the stock a “buy” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and an average price target of $234.69.

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.