Booking Holdings Inc. $BKNG Shares Bought by Tranquilli Financial Advisor LLC

Tranquilli Financial Advisor LLC boosted its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,544.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,447 shares of the business services provider’s stock after buying an additional 10,052 shares during the quarter. Booking accounts for about 1.0% of Tranquilli Financial Advisor LLC’s portfolio, making the stock its 28th largest holding. Tranquilli Financial Advisor LLC’s holdings in Booking were worth $1,862,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Booking in the second quarter worth $11,646,302,000. Deutsche Bank AG acquired a new position in Booking during the second quarter valued at $1,691,186,000. Bank of New York Mellon Corp acquired a new position in Booking during the second quarter valued at $1,370,455,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Booking by 2,525.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider’s stock valued at $1,087,597,000 after purchasing an additional 5,869,459 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in Booking in the second quarter valued at $992,026,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Evercore reiterated an “outperform” rating and set a $270.00 price objective on shares of Booking in a research note on Monday, August 24th. B. Riley Financial restated a “buy” rating and issued a $274.00 target price (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. Piper Sandler reaffirmed a “neutral” rating and set a $215.00 target price (up from $195.00) on shares of Booking in a report on Wednesday, August 5th. UBS Group lifted their price target on Booking from $266.00 to $274.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $188.00 price target on shares of Booking in a report on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Booking currently has an average rating of “Moderate Buy” and a consensus target price of $236.70.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Buy/Strong Buy rating and a $245 price target, implying roughly 23% upside from the referenced share price. The firm considers Booking one of the best-positioned online travel agencies despite industry challenges. Rosenblatt sees Booking as the best-positioned online travel agency
• Positive Sentiment: Recent operating results support the bullish analyst view. Booking’s latest reported quarter exceeded consensus estimates for both earnings and revenue, with revenue increasing 8.1% year over year. The company also recently declared a quarterly dividend of $0.42 per share.
• Positive Sentiment: Momentum-focused coverage was favorable. Zacks identified Booking as a strong momentum stock, noting its recent performance relative to the broader market. This may encourage continued interest from momentum-oriented investors. Why Booking is a strong momentum stock
• Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The commentary could provide insight into travel demand, but the available report does not indicate whether the trends were specifically positive or negative for Booking. Priceline CEO discusses travel trends
• Negative Sentiment: Insiders reported stock sales. Director Robert J. Mylod Jr. sold 1,000 shares for approximately $200,000, while insider Paulo Pisano sold 3,000 shares for about $610,440. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as signals of deteriorating business prospects. Booking insider stock sales

Booking Stock Performance

BKNG opened at $199.60 on Thursday. The company has a fifty day moving average of $193.71 and a two-hundred day moving average of $178.12. The stock has a market capitalization of $149.98 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.21 and a beta of 1.07. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $226.10.

Booking (NASDAQ:BKNG) last posted its earnings results 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 net margin of 25.53% and a negative return on equity of 102.96%. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period in the prior year, the company posted $55.40 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that Booking Holdings Inc. will post 10.48 earnings per share for the current 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 issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. Booking’s dividend payout ratio is presently 18.58%.

Insider Activity at Booking

In other Booking news, insider Paulo Pisano sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $203.48, for a total value of $610,440.00. Following the sale, the insider directly owned 73,400 shares of the company’s stock, valued at approximately $14,935,432. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 16,000 shares in the company, valued at approximately $3,200,000. The trade was a 23.81% 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. Insiders have sold a total of 81,550 shares of company stock valued at $16,922,744 in the last ninety days. 0.17% of the stock is currently owned by company insiders.

Booking Company 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.