Stock Traders Purchase Large Volume of Call Options on Booking (NASDAQ:BKNG)

Booking Holdings Inc. (NASDAQ:BKNG) was the target of unusually large options trading activity on Tuesday. Stock traders bought 48,851 call options on the company. This is an increase of approximately 225% compared to the typical volume of 15,036 call options.

Booking Stock Performance

NASDAQ:BKNG traded down $2.40 during mid-day trading on Tuesday, hitting $150.74. 3,537,098 shares of the company’s stock traded hands, compared to its average volume of 8,098,970. Booking has a 1 year low of $149.87 and a 1 year high of $220.81. The company has a market cap of $113.26 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. The firm’s 50 day simple moving average is $177.22 and its 200 day simple moving average is $178.93.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share 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 business had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period last year, the company posted $55.40 EPS. The company’s revenue was up 8.1% on a year-over-year basis. On average, research analysts expect that Booking will post 10.48 earnings per share for the current fiscal year.

Booking Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on BKNG. Weiss Ratings raised shares of Booking from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Oppenheimer reaffirmed an “outperform” rating and set a $240.00 target price (up from $215.00) on shares of Booking in a research note on Wednesday, August 5th. Argus boosted their price target on shares of Booking from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Wedbush upped their price target on Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Evercore reaffirmed an “outperform” rating and issued a $270.00 target price on shares of Booking in a research report on Monday, August 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.71.

Insider Buying and Selling

In related news, insider Paulo Pisano sold 1,500 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $163.06, for a total value of $244,590.00. Following the completion of the sale, the insider owned 70,400 shares of the company’s stock, valued at approximately $11,479,424. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the sale, the director owned 14,000 shares of the company’s stock, valued at approximately $2,800,000. The trade was a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 83,425 shares of company stock worth $17,210,864 in the last quarter. 0.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Allworth Financial LP raised its stake in shares of Booking by 1,615.6% in the 2nd quarter. Allworth Financial LP now owns 13,931 shares of the business services provider’s stock valued at $2,483,000 after acquiring an additional 13,119 shares during the period. B. Metzler seel. Sohn & Co. AG purchased a new stake in Booking during the 2nd quarter worth $11,687,000. MBM Wealth Consultants LLC lifted its stake in shares of Booking by 2,860.8% during the second quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider’s stock worth $2,238,000 after purchasing an additional 12,130 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Booking by 2,549.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 88,949 shares of the business services provider’s stock worth $16,077,000 after buying an additional 85,592 shares during the period. Finally, QRG Capital Management Inc. boosted its position in shares of Booking by 4,630.9% in the second quarter. QRG Capital Management Inc. now owns 24,175 shares of the business services provider’s stock worth $4,309,000 after buying an additional 23,664 shares during the period. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

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.