Legacy Wealth Asset Management LLC Purchases 9,461 Shares of Booking Holdings Inc. $BKNG

Legacy Wealth Asset Management LLC grew its position in Booking Holdings Inc. (NASDAQ:BKNG) by 2,543.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,833 shares of the business services provider’s stock after purchasing an additional 9,461 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Booking were worth $1,753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Life Cycle Investment Partners Ltd acquired a new stake in shares of Booking during the fourth quarter worth $361,463,000. Rit Capital Partners PLC acquired a new stake in shares of Booking in the 4th quarter valued at about $51,396,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Booking in the 4th quarter valued at about $210,352,000. Cardano Risk Management B.V. lifted its holdings in shares of Booking by 862.0% in the fourth quarter. Cardano Risk Management B.V. now owns 218,080 shares of the business services provider’s stock valued at $1,167,890,000 after purchasing an additional 195,411 shares in the last quarter. Finally, Rathbones Group PLC lifted its holdings in shares of Booking by 20.5% in the fourth quarter. Rathbones Group PLC now owns 64,908 shares of the business services provider’s stock valued at $347,604,000 after purchasing an additional 11,042 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $240.00 price objective (up from $215.00) on shares of Booking in a report on Wednesday. Wedbush boosted their target price on Booking from $211.00 to $247.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. B. Riley Financial reaffirmed a “buy” rating and set a $274.00 price target (up from $264.00) on shares of Booking in a research note on Wednesday. The Goldman Sachs Group set a $215.00 price objective on shares of Booking and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, Cantor Fitzgerald boosted their price objective on shares of Booking from $175.00 to $220.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.69.

Booking Stock Performance

Shares of BKNG stock opened at $214.42 on Monday. Booking Holdings Inc. has a 52-week low of $150.14 and a 52-week high of $231.80. The stock has a market cap of $161.11 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.30 and a beta of 1.07. The firm’s 50-day moving average is $179.43 and its 200-day moving average is $176.36.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the business earned $55.40 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts predict that Booking Holdings Inc. will post 10.43 EPS for the current fiscal year.

Booking Dividend Announcement

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

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

Insider Activity at Booking

In other Booking news, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total transaction of $206,700.00. Following the completion of the sale, the director owned 15,000 shares of the company’s stock, valued at $3,100,500. This trade represents a 6.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of Booking stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the transaction, the vice president directly owned 425,075 shares of the company’s stock, valued at approximately $69,572,025.25. This trade represents a 12.82% 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 quarter, insiders have sold 69,625 shares of company stock worth $11,652,075. Company insiders own 0.17% of the company’s stock.

Booking Profile

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.