582,880 Shares in Booking Holdings Inc. $BKNG Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 582,880 shares of the business services provider’s stock, valued at approximately $94,957,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Booking at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Booking in the second quarter valued at $11,646,302,000. State Street Corp boosted its stake in shares of Booking by 2,674.6% during the 2nd quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock worth $7,026,348,000 after buying an additional 37,999,915 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Booking by 1,497.3% during the 1st quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider’s stock worth $3,665,168,000 after buying an additional 816,022 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Booking in the 2nd quarter valued at about $1,691,186,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Booking in the 2nd quarter valued at about $1,370,455,000. 92.42% of the stock is owned by institutional investors.

Booking Stock Performance

NASDAQ BKNG opened at $148.13 on Friday. Booking Holdings Inc. has a 52-week low of $146.28 and a 52-week high of $220.81. The stock has a market cap of $111.30 billion, a PE ratio of 16.39, a P/E/G ratio of 0.93 and a beta of 1.13. The firm has a 50-day moving average of $171.26 and a 200-day moving average of $177.25.

Booking (NASDAQ:BKNG) last posted its earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS 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 for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the prior year, the business earned $55.40 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Booking Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were issued 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 dividend payout ratio is presently 18.58%.

Analysts Set New Price Targets

BKNG has been the subject of a number of analyst reports. Morgan Stanley set a $230.00 price target on Booking and gave the company an “overweight” rating in a research note on Wednesday, September 16th. Wells Fargo & Company reiterated a “reduce” rating and set a $190.00 price objective (down from $220.00) on shares of Booking in a research note on Wednesday, October 7th. UBS Group upped their price objective on Booking from $266.00 to $274.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. TD Cowen raised shares of Booking to a “strong-buy” rating in a research note on Monday, September 14th. Finally, Bank of America restated a “buy” rating on shares of Booking in a report on Monday, October 26th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Booking presently has an average rating of “Moderate Buy” and an average price target of $233.07.

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.

Insider Buying and Selling at Booking

In other Booking news, Director Robert J. Mylod, Jr. sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was 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 in the company, valued at approximately $2,800,000. The trade was a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $79,125.00. Following the sale, the director directly owned 16,133 shares of the company’s stock, valued at $3,404,063. This represents a 2.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 78,425 shares of company stock worth $16,210,864 over the last quarter. 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.