Van ECK Associates Corp Purchases 31,193 Shares of Booking Holdings Inc. $BKNG

Van ECK Associates Corp boosted its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 2,403.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,491 shares of the business services provider’s stock after purchasing an additional 31,193 shares during the quarter. Van ECK Associates Corp’s holdings in Booking were worth $5,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bogart Wealth LLC boosted its holdings in Booking by 3,475.0% during the second quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock worth $25,000 after purchasing an additional 139 shares during the last quarter. Wilkerson Advisory Group LLC increased its holdings in Booking by 3,550.0% in the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock worth $26,000 after acquiring an additional 142 shares during the last quarter. Osbon Capital Management LLC purchased a new position in shares of Booking in the fourth quarter worth about $27,000. First Financial Corp IN raised its holdings in Booking by 2,400.0% during the 2nd quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 144 shares during the period. Finally, Roble Belko & Company Inc lifted its holdings in Booking by 2,400.0% during the 2nd quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider’s stock worth $27,000 after purchasing an additional 144 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BKNG shares. Sanford C. Bernstein restated a “market perform” rating and set a $188.00 price target on shares of Booking in a research report on Wednesday, August 26th. The Goldman Sachs Group set a $215.00 target price on shares of Booking and gave the stock a “neutral” rating in a research report on Monday, July 20th. Wells Fargo & Company set a $220.00 price objective on Booking and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Susquehanna reissued a “positive” rating and issued a $240.00 target price on shares of Booking in a research note on Thursday, August 6th. Finally, DA Davidson set a $240.00 target price on shares of Booking in a research report on Thursday, August 6th. Two research analysts have 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.70.

Insider Activity

In related news, VP Peter J. Millones sold 50,050 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $207.59, for a total value of $10,389,879.50. Following the completion of the sale, the vice president directly owned 375,025 shares of the company’s stock, valued at approximately $77,851,439.75. This represents a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 the company’s stock in a transaction 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 of the company’s stock, valued at $3,169,536. This represents a 6.38% decrease in their position. 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. Over the last quarter, insiders sold 81,550 shares of company stock worth $16,922,744. 0.17% of the stock is currently owned by corporate insiders.

Booking Stock Performance

Shares of BKNG stock opened at $199.60 on Thursday. The company has a market capitalization of $149.98 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The company’s 50-day moving average is $193.71 and its 200 day moving average is $178.12. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $226.10.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. The firm 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% on a year-over-year basis. During the same period in the prior year, the company posted $55.40 earnings per share. As a group, research 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 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 dividend payout ratio (DPR) is presently 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.