Symphony Financial Ltd. Co. Purchases 2,863 Shares of Booking Holdings Inc. $BKNG

Symphony Financial Ltd. Co. increased its position in Booking Holdings Inc. (NASDAQ:BKNG) by 2,405.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,982 shares of the business services provider’s stock after acquiring an additional 2,863 shares during the period. Symphony Financial Ltd. Co.’s holdings in Booking were worth $542,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Booking during the 2nd quarter worth $11,646,302,000. Deutsche Bank AG bought a new position in shares of Booking during the 2nd quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp purchased a new position in Booking in the second quarter worth about $1,370,455,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Booking by 2,525.5% during 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 worth $1,087,597,000 after buying an additional 5,869,459 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Booking during the second quarter valued at approximately $992,026,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Analyst Ratings Changes

BKNG has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Cantor Fitzgerald upped their target price on Booking from $175.00 to $220.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. B. Riley Financial restated a “buy” rating and issued a $274.00 price target (up from $264.00) on shares of Booking in a report on Wednesday, August 5th. Sanford C. Bernstein restated a “market perform” rating and set a $188.00 target price on shares of Booking in a research note on Wednesday, August 26th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Booking in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.70.

Insider Buying and Selling

In other Booking news, Director Vanessa Ames Wittman sold 1,125 shares of Booking stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the sale, the director owned 16,508 shares of the company’s stock, valued at $3,169,536. The trade was a 6.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $203.48, for a total transaction of $610,440.00. Following the transaction, the insider owned 73,400 shares in the company, valued at $14,935,432. The trade was a 3.93% decrease in their ownership of the stock. 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. Insiders have sold a total of 81,550 shares of company stock worth $16,922,744 in the last ninety days. Company insiders own 0.17% of the company’s stock.

Booking Stock Performance

Shares of BKNG opened at $199.60 on Thursday. The company has a market capitalization of $149.98 billion, a P/E ratio of 22.09, a P/E/G 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. The business’s 50-day moving average is $193.71 and its two-hundred day moving average is $178.12.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, beating 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 company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period last year, the business earned $55.40 earnings per share. Booking’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts forecast that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio (DPR) is 18.58%.

Key Headlines Impacting Booking

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 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.