Booking Holdings Inc. $BKNG Stock: Formidable Asset Management LLC Grows Stake

Formidable Asset Management LLC lifted its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 2,432.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,510 shares of the business services provider’s stock after purchasing an additional 8,174 shares during the period. Formidable Asset Management LLC’s holdings in Booking were worth $1,517,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BKNG. United Advisor Group LLC raised its stake in Booking by 90.5% in the third quarter. United Advisor Group LLC now owns 3,296 shares of the business services provider’s stock valued at $537,000 after buying an additional 1,566 shares during the last quarter. Twin Peaks Capital Ltd acquired a new stake in Booking in the third quarter worth about $1,222,000. May Hill Capital LLC grew its stake in shares of Booking by 3.2% during the third quarter. May Hill Capital LLC now owns 2,857 shares of the business services provider’s stock worth $465,000 after acquiring an additional 89 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of Booking by 36.6% during the third quarter. Alps Advisors Inc. now owns 32,437 shares of the business services provider’s stock worth $5,284,000 after acquiring an additional 8,686 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its stake in shares of Booking by 32.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 13,264 shares of the business services provider’s stock worth $2,161,000 after acquiring an additional 3,237 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

Insider Buying and Selling at Booking

In related news, Director Robert J. Mylod, Jr. sold 1,000 shares of Booking stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director owned 14,000 shares of the company’s stock, valued at approximately $2,800,000. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Wittman sold 375 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $211.00, for a total transaction of $79,125.00. Following the completion of the sale, the director directly owned 16,133 shares of the company’s stock, valued at approximately $3,404,063. The trade was a 2.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 77,425 shares of company stock worth $16,004,164. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on BKNG shares. Melius Research set a $225.00 price target on shares of Booking in a report on Tuesday, October 20th. Sanford C. Bernstein reissued a “market perform” rating and set a $188.00 price objective on shares of Booking in a report on Wednesday, August 26th. Robert W. Baird set a $230.00 target price on Booking in a research report on Wednesday, August 5th. 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 note on Tuesday, July 14th. Finally, DA Davidson set a $240.00 target price on Booking in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Booking currently has an average rating of “Moderate Buy” and an average target price of $222.35.

Booking Trading Down 4.8%

NASDAQ BKNG opened at $160.66 on Friday. The stock has a market capitalization of $119.48 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.01 and a beta of 1.17. Booking Holdings Inc. has a twelve month low of $146.28 and a twelve month high of $220.81. The stock has a 50-day moving average of $166.49 and a 200 day moving average of $176.13.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.49 by $0.17. Booking had a negative return on equity of 89.54% and a net margin of 25.52%. The company had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the prior year, the business posted $99.50 earnings per share. Booking’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts predict that Booking Holdings Inc. will post 10.24 EPS for the current fiscal year.

About Booking

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.