Hennion & Walsh Asset Management Inc. Grows Stock Holdings in Booking Holdings Inc. $BKNG

Hennion & Walsh Asset Management Inc. raised its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,524.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,330 shares of the business services provider’s stock after purchasing an additional 12,822 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Booking were worth $2,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Camelot Portfolios LLC bought a new stake in Booking during the fourth quarter worth approximately $27,000. Osbon Capital Management LLC purchased a new stake in Booking during the fourth quarter valued at approximately $27,000. First Financial Corp IN lifted its stake in shares of Booking by 2,400.0% in the 2nd 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. Mcguire Capital Advisors Inc. bought a new stake in shares of Booking in the 4th quarter valued at approximately $27,000. Finally, Strive Asset Management LLC purchased a new position in shares of Booking in the 3rd quarter worth approximately $27,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the 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 transaction, the director owned 15,000 shares of the company’s stock, valued at approximately $3,100,500. This represents a 6.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total value of $10,229,375.00. Following the transaction, the vice president owned 425,075 shares in the company, valued at approximately $69,572,025.25. This represents a 12.82% 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. In the last ninety days, insiders sold 69,625 shares of company stock worth $11,652,075. 0.17% of the stock is currently owned by company insiders.

Booking Stock Performance

Shares of NASDAQ:BKNG opened at $212.87 on Wednesday. The firm’s 50 day simple moving average is $181.21 and its 200-day simple moving average is $176.87. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $231.80. The firm has a market cap of $159.95 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the business earned $55.40 earnings per share. Booking’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Booking Holdings Inc. will post 10.47 EPS for the current fiscal year.

Booking Dividend Announcement

The company 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 $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio is currently 18.58%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BKNG. HSBC cut their target price on Booking from $309.84 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Royal Bank Of Canada dropped their price objective on shares of Booking from $244.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $250.00 price objective (up from $240.00) on shares of Booking in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $230.00 price objective on shares of Booking in a research report on Wednesday, August 5th. Finally, BTIG Research reissued a “buy” rating and issued a $250.00 target price on shares of Booking in a research note 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 given a Hold rating to the stock. According to data from MarketBeat, Booking has a consensus rating of “Moderate Buy” and a consensus price target of $235.72.

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.