Smith Group Asset Management LLC Sells 102,973 Shares of Booking Holdings Inc. $BKNG

Smith Group Asset Management LLC cut its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 38.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 166,584 shares of the business services provider’s stock after selling 102,973 shares during the period. Booking accounts for approximately 1.8% of Smith Group Asset Management LLC’s portfolio, making the stock its 27th biggest holding. Smith Group Asset Management LLC’s holdings in Booking were worth $27,138,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Apollon Wealth Management LLC boosted its stake in Booking by 6.2% during the 1st quarter. Apollon Wealth Management LLC now owns 957 shares of the business services provider’s stock valued at $4,031,000 after purchasing an additional 56 shares during the period. Janney Montgomery Scott LLC increased its position in Booking by 4.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,497 shares of the business services provider’s stock worth $6,304,000 after buying an additional 57 shares during the period. HB Wealth Management LLC increased its position in Booking by 3.9% in the 1st quarter. HB Wealth Management LLC now owns 1,503 shares of the business services provider’s stock worth $6,329,000 after buying an additional 57 shares during the period. Mill Capital Management LLC lifted its holdings in shares of Booking by 1.1% during the first quarter. Mill Capital Management LLC now owns 5,721 shares of the business services provider’s stock worth $24,087,000 after buying an additional 65 shares during the last quarter. Finally, Van Diest Capital LLC lifted its holdings in shares of Booking by 30.1% during the first quarter. Van Diest Capital LLC now owns 281 shares of the business services provider’s stock worth $1,185,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BKNG. Truist Financial set a $216.00 price objective on Booking and gave the company a “buy” rating in a research report on Wednesday, September 30th. Evercore reaffirmed an “outperform” rating and set a $270.00 target price on shares of Booking in a research report on Monday, August 24th. BMO Capital Markets reiterated an “outperform” rating and set a $250.00 target price (up from $240.00) on shares of Booking in a research note on Wednesday, August 5th. Bank of America reiterated a “buy” rating on shares of Booking in a research note on Monday. Finally, TD Cowen raised shares of Booking to a “strong-buy” rating in a report on Monday, September 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.71.

Booking Trading Down 1.5%

Shares of BKNG stock opened at $147.94 on Thursday. Booking Holdings Inc. has a 12 month low of $146.28 and a 12 month high of $220.81. The company has a market capitalization of $111.16 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.96 and a beta of 1.13. The stock has a 50 day moving average of $173.75 and a two-hundred day moving average of $177.93.

Booking (NASDAQ:BKNG) last released 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. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period last year, the firm earned $55.40 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts predict that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.

Booking Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Booking’s dividend payout ratio is 18.58%.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Unusually high call-option activity indicates that some traders are positioning for a rebound. Nearly 48,851 call options changed hands, roughly 225% above typical daily volume, while another report described the activity as potentially signaling that the stock is undervalued. Booking Holdings unusual call options activity
• Positive Sentiment: Booking’s revenue trajectory has shown stronger upward momentum than Advance Auto Parts’ over the past eight comparable quarters. However, the pattern is seasonal, with notable late-summer peaks, so comparisons should be interpreted cautiously. Advance Auto Parts vs. Booking Holdings revenue comparison
• Neutral Sentiment: Analyst views on Booking are mixed, suggesting limited consensus on the stock’s near-term outlook and potentially contributing to continued volatility. Mixed analyst opinions on Booking Holdings
• Negative Sentiment: BKNG fell even as the wider market advanced, highlighting company-specific selling pressure. The decline followed several weak sessions and reinforced concerns about investor confidence. Booking Holdings stock drops despite market gains
• Negative Sentiment: The stock recently reached a fresh 52-week low, a technical warning that sellers remain in control and that investors may be demanding stronger earnings evidence before buying. Booking Holdings reaches a fresh 52-week low
• Negative Sentiment: Although analysts expect earnings to grow in the upcoming report, Zacks says Booking lacks the combination of factors that typically supports a likely earnings beat. That raises the risk of disappointment if results or guidance fail to exceed expectations. Booking Holdings earnings expectations

Insider Transactions at Booking

In other Booking news, Director Vanessa Wittman sold 375 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $211.00, for a total transaction of $79,125.00. Following the completion of the transaction, the director owned 16,133 shares in the company, valued at $3,404,063. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter Millones, Jr. sold 50,050 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $207.59, for a total value of $10,389,879.50. Following the transaction, the vice president owned 375,025 shares of the company’s stock, valued at $77,851,439.75. This trade represents a 11.77% 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. Over the last three months, insiders have sold 78,425 shares of company stock valued at $16,210,864. Corporate insiders own 0.17% of the company’s stock.

About Booking

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.