Booking Holdings Inc. $BKNG Stock: Park Avenue Securities LLC Increases Holdings

Park Avenue Securities LLC lifted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 25.3% during the third quarter, Holdings Channel reports. The firm owned 18,892 shares of the business services provider’s stock after purchasing an additional 3,816 shares during the quarter. Park Avenue Securities LLC’s holdings in Booking were worth $3,078,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BKNG. HB Wealth Management LLC increased its stake in Booking by 3.9% in the 1st quarter. HB Wealth Management LLC now owns 1,503 shares of the business services provider’s stock worth $6,329,000 after purchasing an additional 57 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Booking by 4.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,497 shares of the business services provider’s stock valued at $6,304,000 after acquiring an additional 57 shares in the last quarter. Mill Capital Management LLC lifted its position in shares of Booking by 1.1% in the 1st quarter. Mill Capital Management LLC now owns 5,721 shares of the business services provider’s stock valued at $24,087,000 after acquiring an additional 65 shares in the last quarter. Van Diest Capital LLC lifted its position in shares of Booking by 30.1% in the 1st quarter. Van Diest Capital LLC now owns 281 shares of the business services provider’s stock valued at $1,185,000 after acquiring an additional 65 shares in the last quarter. Finally, Garrett Wealth Advisory Group LLC boosted its stake in Booking by 2.5% in the 3rd quarter. Garrett Wealth Advisory Group LLC now owns 2,667 shares of the business services provider’s stock worth $434,000 after purchasing an additional 65 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Stock Down 1.5%

Booking stock opened at $148.13 on Friday. Booking Holdings Inc. has a 12 month low of $146.28 and a 12 month high of $220.81. The stock has a market cap of $111.30 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.94 and a beta of 1.13. The company’s fifty day simple moving average is $171.26 and its 200-day simple moving average is $177.25.

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. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period last year, the company earned $55.40 earnings per share. Booking’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal 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 paid a $0.42 dividend. The ex-dividend date was Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 1.1%. Booking’s payout ratio is 18.58%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BKNG. Citigroup reiterated a “market perform” rating on shares of Booking in a research report on Thursday, September 24th. The Goldman Sachs Group set a $215.00 target price on Booking and gave the company a “neutral” rating in a report on Monday, July 20th. Weiss Ratings raised Booking from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Jefferies Financial Group raised their target price on Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Finally, TD Cowen upgraded Booking to a “strong-buy” rating in a report on Monday, September 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.07.

Key Stories Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s global travel leadership, high margins and strong cash-flow generation remain important supports for the investment case. Its cash position could provide flexibility for share repurchases, investment and other shareholder returns. Booking vs. Coupang: Which Stock Is the Better Buy in November?
• Positive Sentiment: Investors will be watching for continued progress in loyalty adoption and the Connected Trip initiative, which aims to increase customer engagement and cross-selling across accommodations, flights, rental cars and other travel services. Strong execution could improve longer-term growth expectations. The Connected Trip Gamble
• Neutral Sentiment: BKNG has attracted unusually high investor attention and options activity ahead of earnings. This may increase short-term volatility, but the available reports do not indicate whether traders are positioning for a rise or decline. Booking Sees Unusually Large Options Volume
• Neutral Sentiment: Analysts are focused not only on revenue and earnings per share but also on operating metrics and other key indicators for the September quarter. These estimates could set the bar for the earnings reaction. Exploring Analyst Estimates for Booking Holdings Q3 Earnings
• Negative Sentiment: Currency headwinds could reduce the reported value of international bookings and earnings, while travel disruptions may weigh on demand or create additional costs. Booking Holdings Q3 Earnings Ahead
• Negative Sentiment: Higher marketing spending may pressure profitability even if bookings and revenue continue to grow. Investors are therefore likely to scrutinize margins, guidance and management’s outlook. Booking Holdings Q3 Earnings Ahead: What’s in Store for the Stock?
• Negative Sentiment: The shares have declined substantially and are trading near their 12-month low, reflecting elevated expectations risk ahead of the report. Any weak guidance or disappointment in Connected Trip adoption could add further pressure.

Insider Buying and Selling

In other news, 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 transaction of $10,389,879.50. Following the completion of the sale, the vice president directly owned 375,025 shares in the company, valued at $77,851,439.75. The trade was a 11.77% decrease in their position. The sale 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, CFO Ewout L. Steenbergen sold 20,000 shares of Booking stock in a transaction dated 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 sale, the chief financial officer owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. This represents a 25.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 78,425 shares of company stock worth $16,210,864. Insiders own 0.17% of the company’s stock.

Booking Profile

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.