Redwood Investment Management LLC Makes New Investment in Booking Holdings Inc. $BKNG

Redwood Investment Management LLC purchased a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,492 shares of the business services provider’s stock, valued at approximately $1,157,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BKNG. Osbon Capital Management LLC purchased a new stake in Booking during the 4th quarter worth approximately $27,000. Mcguire Capital Advisors Inc. purchased a new position in Booking in the 4th quarter valued at approximately $27,000. Strive Asset Management LLC acquired a new position in shares of Booking in the third quarter worth $27,000. Swiss RE Ltd. acquired a new position in shares of Booking in the fourth quarter worth $27,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in shares of Booking during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BKNG. Truist Financial set a $242.00 price objective on Booking in a research note on Wednesday, August 5th. Wedbush boosted their target price on Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Mizuho set a $240.00 price target on Booking in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $230.00 price target on shares of Booking in a report on Wednesday, August 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $240.00 price objective (up from $215.00) on shares of Booking in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.45.

Booking Trading Down 3.0%

BKNG stock opened at $202.56 on Friday. Booking Holdings Inc. has a twelve month low of $150.14 and a twelve month high of $226.63. The company’s 50 day moving average is $191.50 and its two-hundred day moving average is $177.49. The stock has a market cap of $152.20 billion, a P/E ratio of 22.42, a PEG ratio of 1.26 and a beta of 1.07.

Booking (NASDAQ:BKNG) last issued its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $55.40 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts predict that Booking Holdings Inc. will post 10.47 earnings per share for the current year.

Booking Dividend Announcement

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

Insider Activity at Booking

In other Booking news, Director Vanessa Ames Wittman sold 375 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $211.00, for a total value 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 represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 50,050 shares of the firm’s stock in a transaction dated 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 directly owned 375,025 shares in the company, valued at approximately $77,851,439.75. The trade was 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. Insiders sold 77,550 shares of company stock valued at $16,112,304 in the last ninety days. 0.17% of the stock is currently 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.