Booking (NASDAQ:BKNG) Shares Gap Up on Strong Earnings

Booking Holdings Inc. (NASDAQ:BKNG)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $3,472.91, but opened at $3,700.00. Booking shares last traded at $3,700.00, with a volume of 159,825 shares changing hands.

The business services provider reported $20.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.03 by $6.36. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.25 billion. Booking had a net margin of 21.81% and a negative return on equity of 433.49%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $11.60 earnings per share.

Booking Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were given a dividend of $8.75 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $35.00 annualized dividend and a dividend yield of 0.98%. Booking’s dividend payout ratio (DPR) is presently 26.25%.

Analyst Upgrades and Downgrades

BKNG has been the subject of several recent analyst reports. Wedbush reiterated an “outperform” rating and set a $3,850.00 price objective on shares of Booking in a research note on Tuesday, April 30th. StockNews.com cut Booking from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Barclays reduced their target price on shares of Booking from $3,900.00 to $3,800.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. DA Davidson raised their price target on Booking from $4,100.00 to $4,150.00 and gave the company a “buy” rating in a report on Friday. Finally, Edward Jones reaffirmed a “hold” rating on shares of Booking in a research note on Friday, February 16th. Ten analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3,823.00.

Insider Activity at Booking

In related news, Director Radakovich Lynn Vojvodich sold 59 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $3,700.00, for a total value of $218,300.00. Following the completion of the transaction, the director now directly owns 289 shares of the company’s stock, valued at $1,069,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Glenn D. Fogel sold 4,302 shares of Booking stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $3,422.75, for a total transaction of $14,724,670.50. Following the completion of the transaction, the chief executive officer now directly owns 33,548 shares in the company, valued at approximately $114,826,417. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Radakovich Lynn Vojvodich sold 59 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $3,700.00, for a total value of $218,300.00. Following the completion of the sale, the director now owns 289 shares in the company, valued at approximately $1,069,300. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,483 shares of company stock valued at $18,891,445. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Booking

Several institutional investors and hedge funds have recently modified their holdings of BKNG. Geneos Wealth Management Inc. boosted its holdings in shares of Booking by 9.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 895 shares of the business services provider’s stock worth $3,247,000 after buying an additional 74 shares during the period. Team Hewins LLC lifted its position in Booking by 1.7% during the first quarter. Team Hewins LLC now owns 182 shares of the business services provider’s stock worth $660,000 after acquiring an additional 3 shares during the last quarter. Csenge Advisory Group boosted its holdings in shares of Booking by 4.7% during the first quarter. Csenge Advisory Group now owns 67 shares of the business services provider’s stock worth $243,000 after acquiring an additional 3 shares during the period. Signaturefd LLC grew its position in shares of Booking by 23.9% in the first quarter. Signaturefd LLC now owns 270 shares of the business services provider’s stock valued at $980,000 after purchasing an additional 52 shares during the last quarter. Finally, Catalina Capital Group LLC bought a new position in shares of Booking during the first quarter worth approximately $486,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Stock Performance

The company has a fifty day moving average of $3,524.43 and a two-hundred day moving average of $3,399.84. The firm has a market capitalization of $121.70 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.05 and a beta of 1.40.

Booking Company Profile

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.