Rockland Trust Co. Increases Holdings in Booking Holdings Inc. $BKNG

Rockland Trust Co. lifted its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 2,400.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,500 shares of the business services provider’s stock after acquiring an additional 2,400 shares during the period. Rockland Trust Co.’s holdings in Booking were worth $446,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Life Cycle Investment Partners Ltd bought a new stake in Booking in the 4th quarter valued at $361,463,000. Rit Capital Partners PLC bought a new position in shares of Booking during the 4th quarter valued at about $51,396,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Booking during the 4th quarter valued at about $210,352,000. Cardano Risk Management B.V. grew its position in shares of Booking by 862.0% during the fourth quarter. Cardano Risk Management B.V. now owns 218,080 shares of the business services provider’s stock valued at $1,167,890,000 after purchasing an additional 195,411 shares in the last quarter. Finally, Rathbones Group PLC grew its position in shares of Booking by 20.5% during the fourth quarter. Rathbones Group PLC now owns 64,908 shares of the business services provider’s stock valued at $347,604,000 after purchasing an additional 11,042 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

Booking Trading Up 3.4%

BKNG stock opened at $214.42 on Friday. The stock has a market cap of $161.11 billion, a PE ratio of 23.73, a P/E/G ratio of 1.31 and a beta of 1.07. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $231.80. The company has a 50-day moving average price of $179.43 and a 200 day moving average price of $176.56.

Booking (NASDAQ:BKNG) last posted 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. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $55.40 EPS. Sell-side analysts forecast that Booking Holdings Inc. will post 10.43 EPS for the current year.

Booking Announces Dividend

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

Analyst Upgrades and Downgrades

BKNG has been the topic of a number of research analyst reports. Robert W. Baird set a $230.00 target price on Booking in a research report on Wednesday. Royal Bank Of Canada cut their price target on Booking from $244.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. The Goldman Sachs Group set a $215.00 price objective on Booking and gave the stock a “neutral” rating in a research note on Monday, July 20th. BTIG Research reiterated a “buy” rating and set a $250.00 target price on shares of Booking in a research report on Wednesday. Finally, Cantor Fitzgerald raised their target price on shares of Booking from $175.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $234.69.

Insider Buying and Selling

In related news, Director Robert J. Mylod, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was 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 $3,100,500. The trade was a 6.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total value of $216,000.00. Following the transaction, the director owned 16,508 shares of the company’s stock, valued at approximately $3,169,536. The trade was 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. Insiders own 0.17% of the company’s stock.

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.