Booking Holdings Inc. $BKNG Position Trimmed by Profund Advisors LLC

Profund Advisors LLC trimmed its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 6.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,994 shares of the business services provider’s stock after selling 5,748 shares during the quarter. Profund Advisors LLC’s holdings in Booking were worth $12,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HB Wealth Management LLC lifted its holdings in Booking by 3.9% in the first quarter. HB Wealth Management LLC now owns 1,503 shares of the business services provider’s stock valued at $6,329,000 after acquiring an additional 57 shares during the period. Janney Montgomery Scott LLC raised its holdings in Booking by 4.0% during 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 buying an additional 57 shares during the period. Mill Capital Management LLC lifted its stake in shares of Booking by 1.1% during the 1st quarter. Mill Capital Management LLC now owns 5,721 shares of the business services provider’s stock worth $24,087,000 after acquiring an additional 65 shares during the last quarter. Van Diest Capital LLC increased its position in shares of Booking by 30.1% during the first quarter. Van Diest Capital LLC now owns 281 shares of the business services provider’s stock worth $1,185,000 after acquiring an additional 65 shares during the period. Finally, Garrett Wealth Advisory Group LLC grew its holdings in Booking by 2.5% during the 3rd quarter. Garrett Wealth Advisory Group LLC now owns 2,667 shares of the business services provider’s stock worth $434,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

More Booking News

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.

Booking Stock Down 1.5%

Shares of 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 capitalization of $111.30 billion, a P/E ratio of 16.39, a PEG ratio of 0.93 and a beta of 1.13. The stock has a 50 day moving average price of $171.26 and a two-hundred day moving average price of $177.25.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $55.40 earnings per share. Sell-side analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Booking’s payout ratio is presently 18.58%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BKNG. Cantor Fitzgerald dropped their price target on Booking from $220.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Bank of America reaffirmed a “buy” rating on shares of Booking in a research report on Monday, October 26th. BMO Capital Markets reissued an “outperform” rating and set a $250.00 target price (up from $240.00) on shares of Booking in a research note on Wednesday, August 5th. Robert W. Baird set a $230.00 price objective on shares of Booking in a research report on Wednesday, August 5th. Finally, Morgan Stanley set a $230.00 target price on Booking and gave the company an “overweight” rating in a research note on Wednesday, September 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.07.

Insider Activity

In other news, Director Vanessa Wittman sold 375 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $211.00, for a total value of $79,125.00. Following the transaction, the director owned 16,133 shares in the company, valued at $3,404,063. This represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 50,050 shares of the business’s stock in a transaction on 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 owned 375,025 shares in the company, valued at $77,851,439.75. This represents a 11.77% 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. Over the last 90 days, insiders have sold 78,425 shares of company stock worth $16,210,864. Corporate 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.