Booking Holdings Inc. $BKNG Position Increased by Merit Financial Group LLC

Merit Financial Group LLC increased its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 1,663.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,698 shares of the business services provider’s stock after buying an additional 27,071 shares during the quarter. Merit Financial Group LLC’s holdings in Booking were worth $5,115,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BKNG. Strive Asset Management LLC acquired a new stake in shares of Booking in the 3rd quarter worth about $27,000. Camelot Portfolios LLC acquired a new position in Booking during the 4th quarter valued at about $27,000. Swiss RE Ltd. acquired a new position in Booking during the 4th quarter valued at about $27,000. Mcguire Capital Advisors Inc. bought a new position in Booking in the 4th quarter worth about $27,000. Finally, Osbon Capital Management LLC bought a new position in Booking in the 4th quarter worth about $27,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Booking Price Performance

BKNG opened at $212.26 on Thursday. The business has a 50 day moving average price of $182.16 and a two-hundred day moving average price of $176.92. The company has a market capitalization of $159.49 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $231.80.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $55.40 EPS. Equities analysts expect that Booking Holdings Inc. will post 10.47 EPS for the current fiscal year.

Booking Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on BKNG. Benchmark lifted their price target on Booking from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Barclays set a $210.00 price objective on Booking and gave the stock an “overweight” rating in a report on Wednesday, April 29th. 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 report on Wednesday, August 5th. BTIG Research reaffirmed a “buy” rating and set a $250.00 target price on shares of Booking in a research note on Wednesday, August 5th. Finally, UBS Group boosted their price target on Booking from $266.00 to $274.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One equities research analyst has 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.72.

Insider Buying and Selling at Booking

In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $206.70, for a total transaction of $206,700.00. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at approximately $3,100,500. This trade represents a 6.25% decrease in their position. The transaction was disclosed in a document filed 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 Ames Wittman sold 1,125 shares of Booking stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total transaction of $216,000.00. Following the completion of the transaction, the director directly owned 16,508 shares in the company, valued at $3,169,536. This represents a 6.38% 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. In the last three months, insiders sold 69,625 shares of company stock valued at $11,652,075. 0.17% of the stock is owned by 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.